Iris Energy Limited (NASDAQ:IREN) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its holdings in Iris Energy Limited (NASDAQ:IREN) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 694,757 shares of the company’s stock after selling 18,878 shares during the quarter. Exchange Traded Concepts LLC owned about 0.37% of Iris Energy worth $6,823,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in IREN. AFG Fiduciary Services Limited Partnership purchased a new position in shares of Iris Energy in the 3rd quarter valued at approximately $77,000. Covestor Ltd acquired a new position in Iris Energy in the 3rd quarter valued at $87,000. Sippican Capital Advisors purchased a new position in Iris Energy during the 3rd quarter worth $94,000. Bluefin Capital Management LLC acquired a new stake in shares of Iris Energy in the 2nd quarter worth $113,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Iris Energy in the second quarter valued at about $149,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald increased their target price on Iris Energy from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Needham & Company LLC reissued a “hold” rating on shares of Iris Energy in a report on Wednesday, November 27th. Macquarie upped their price target 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. HC Wainwright raised their price objective on shares of Iris Energy from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Roth Mkm initiated coverage on shares of Iris Energy in a report on Wednesday, October 2nd. They set a “buy” rating and a $14.00 price objective on the stock. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.50.

Iris Energy Price Performance

Shares of IREN opened at $13.32 on Friday. Iris Energy Limited has a 1-year low of $3.56 and a 1-year high of $15.92. The firm has a 50 day simple moving average of $11.80 and a 200-day simple moving average of $9.96.

Iris Energy (NASDAQ:IREN) last released its quarterly 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 return on equity of 8.01% and a negative net margin of 36.10%. 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.