Van ECK Associates Corp Increases Stake in Iris Energy Limited (NASDAQ:IREN)

Van ECK Associates Corp increased its stake in Iris Energy Limited (NASDAQ:IRENFree Report) by 32.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,485,909 shares of the company’s stock after buying an additional 368,140 shares during the period. Van ECK Associates Corp owned 2.23% of Iris Energy worth $10,624,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Iris Energy by 52.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,037,420 shares of the company’s stock valued at $7,418,000 after purchasing an additional 356,752 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Iris Energy by 47.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 613,818 shares of the company’s stock worth $4,389,000 after buying an additional 196,635 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Iris Energy by 123.2% in the 4th quarter. Vontobel Holding Ltd. now owns 62,791 shares of the company’s stock worth $449,000 after acquiring an additional 34,662 shares in the last quarter. Finally, Tucker Asset Management LLC purchased a new position in Iris Energy during the 3rd quarter valued at about $47,000. 41.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IREN shares. B. Riley decreased their target price on shares of Iris Energy from $10.00 to $9.50 and set a “buy” rating for the company in a research note on Friday, March 15th. Canaccord Genuity Group reiterated a “buy” rating and set a $9.00 price objective on shares of Iris Energy in a research note on Thursday, March 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Iris Energy in a research note on Thursday, March 28th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Iris Energy in a research report on Tuesday, April 2nd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $12.00.

Get Our Latest Stock Analysis on IREN

Iris Energy Stock Up 5.5 %

Shares of NASDAQ:IREN opened at $4.57 on Friday. Iris Energy Limited has a 1 year low of $2.79 and a 1 year high of $9.69. The stock’s fifty day moving average price is $5.31 and its 200-day moving average price is $5.05.

Iris Energy (NASDAQ:IRENGet Free Report) last posted its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter. The business had revenue of $42.57 million for the quarter, compared to analyst estimates of $37.58 million. On average, analysts forecast that Iris Energy Limited will post 0.08 EPS for the current year.

About Iris Energy

(Free Report)

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

See Also

Institutional Ownership by Quarter for Iris Energy (NASDAQ:IREN)

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