Continuum Advisory LLC Purchases New Shares in Iris Energy Limited (NASDAQ:IREN)

Continuum Advisory LLC acquired a new stake in shares of Iris Energy Limited (NASDAQ:IREN) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 50,906 shares of the company’s stock, valued at approximately $430,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Iris Energy by 1,521.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 188,051 shares of the company’s stock valued at $2,123,000 after purchasing an additional 176,451 shares in the last quarter. MKP Capital Management L.L.C. bought a new stake in Iris Energy during the 2nd quarter valued at approximately $3,139,000. X Square Capital LLC purchased a new position in shares of Iris Energy during the 2nd quarter worth approximately $508,000. VitalStone Financial LLC raised its position in shares of Iris Energy by 467.1% in the 2nd quarter. VitalStone Financial LLC now owns 79,285 shares of the company’s stock worth $895,000 after acquiring an additional 65,305 shares in the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of Iris Energy in the 2nd quarter worth approximately $779,000. 41.08% of the stock is currently owned by institutional investors.

Iris Energy Trading Down 7.9 %

Shares of Iris Energy stock opened at $13.36 on Wednesday. Iris Energy Limited has a 1 year low of $3.56 and a 1 year high of $15.92. The firm’s 50-day moving average is $10.38 and its 200 day moving average is $9.97.

Analyst Ratings Changes

Several equities research analysts recently weighed in on IREN shares. HC Wainwright upped their price target on Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. restated a “neutral” rating and set a $15.00 target price (up previously from $9.50) on shares of Iris Energy in a report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Iris Energy in a research note on Wednesday, November 27th. B. Riley lowered their price target on shares of Iris Energy from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Finally, Roth Mkm initiated coverage on shares of Iris Energy in a report on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.56.

About Iris Energy

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