Evolution Wealth Advisors LLC Boosts Holdings in Iris Energy Limited (NASDAQ:IREN)

Evolution Wealth Advisors LLC raised its holdings in Iris Energy Limited (NASDAQ:IREN) by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,880 shares of the company’s stock after purchasing an additional 3,830 shares during the quarter. Evolution Wealth Advisors LLC’s holdings in Iris Energy were worth $470,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Main Management ETF Advisors LLC purchased a new stake in Iris Energy in the third quarter valued at $760,000. Van ECK Associates Corp boosted its holdings in Iris Energy by 56.1% in the third quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company’s stock valued at $13,938,000 after purchasing an additional 576,726 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Iris Energy by 123.1% in the third quarter. Vontobel Holding Ltd. now owns 49,322 shares of the company’s stock valued at $416,000 after purchasing an additional 27,212 shares during the last quarter. Creative Planning boosted its holdings in Iris Energy by 71.2% in the third quarter. Creative Planning now owns 457,625 shares of the company’s stock valued at $3,862,000 after purchasing an additional 190,300 shares during the last quarter. Finally, Campbell Capital Management Inc. purchased a new stake in shares of Iris Energy during the 3rd quarter worth about $608,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. B. Riley increased their target price on shares of Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. BTIG Research assumed coverage on shares of Iris Energy in a research note on Friday, December 20th. They set a “buy” rating and a $33.00 target price on the stock. Macquarie increased their target price on shares of Iris Energy from $13.50 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Needham & Company LLC restated a “hold” rating on shares of Iris Energy in a research report on Wednesday, November 27th. Finally, Roth Capital upgraded shares of Iris Energy to a “strong-buy” rating in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Iris Energy Price Performance

Iris Energy stock opened at $11.66 on Thursday. The firm has a 50 day simple moving average of $11.71 and a 200-day simple moving average of $9.96. Iris Energy Limited has a 1-year low of $3.56 and a 1-year high of $15.92.

Iris Energy (NASDAQ:IREN) last posted its earnings results on Tuesday, November 26th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.11). Iris Energy had a negative net margin of 36.10% and a negative return on equity of 8.01%. Equities analysts forecast that Iris Energy Limited will post 0.12 EPS for the current year.

Iris Energy Profile

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