Central Asset Investments & Management Holdings HK Ltd Makes New $779,000 Investment in Iris Energy Limited (NASDAQ:IREN)

Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of Iris Energy Limited (NASDAQ:IREN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 69,000 shares of the company’s stock, valued at approximately $779,000. Iris Energy makes up approximately 0.3% of Central Asset Investments & Management Holdings HK Ltd’s holdings, making the stock its 26th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. VitalStone Financial LLC grew its position in shares of Iris Energy by 373.9% during the 1st quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock worth $71,000 after buying an additional 11,030 shares in the last quarter. CCG Wealth Management LLC bought a new position in shares of Iris Energy during the 1st quarter worth $72,000. PEAK6 Investments LLC bought a new position in shares of Iris Energy during the 1st quarter worth $133,000. Olympiad Research LP bought a new position in shares of Iris Energy during the 4th quarter worth $173,000. Finally, Chesapeake Capital Corp IL bought a new position in shares of Iris Energy during the 4th quarter worth $221,000. Institutional investors own 41.08% of the company’s stock.

Analyst Ratings Changes

IREN has been the topic of a number of recent research reports. Cantor Fitzgerald dropped their price target on Iris Energy from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. B. Riley cut their target price on Iris Energy from $17.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 target price on shares of Iris Energy in a research note on Thursday, August 29th. Compass Point cut their target price on Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, Needham & Company LLC assumed coverage on Iris Energy in a research note on Wednesday, September 4th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.63.

Iris Energy Stock Performance

Shares of IREN stock opened at $8.03 on Wednesday. Iris Energy Limited has a fifty-two week low of $2.79 and a fifty-two week high of $15.75. The stock’s 50-day simple moving average is $8.84 and its 200-day simple moving average is $7.97.

Iris Energy Company Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.