TRU Independence Asset Management 2 LLC Buys Shares of 16,571 Iris Energy Limited (NASDAQ:IREN)

TRU Independence Asset Management 2 LLC bought a new stake in Iris Energy Limited (NASDAQ:IREN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 16,571 shares of the company’s stock, valued at approximately $163,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Truist Financial Corp lifted its holdings in Iris Energy by 3.2% during the 2nd quarter. Truist Financial Corp now owns 51,575 shares of the company’s stock worth $582,000 after buying an additional 1,575 shares in the last quarter. Drive Wealth Management LLC raised its stake in shares of Iris Energy by 5.8% in the fourth quarter. Drive Wealth Management LLC now owns 39,690 shares of the company’s stock valued at $390,000 after acquiring an additional 2,193 shares in the last quarter. Evolution Wealth Advisors LLC boosted its holdings in Iris Energy by 8.7% in the fourth quarter. Evolution Wealth Advisors LLC now owns 47,880 shares of the company’s stock valued at $470,000 after purchasing an additional 3,830 shares during the period. Chesapeake Capital Corp IL increased its holdings in Iris Energy by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 17,695 shares of the company’s stock worth $157,000 after purchasing an additional 3,861 shares during the period. Finally, Chicago Partners Investment Group LLC raised its position in Iris Energy by 13.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 54,515 shares of the company’s stock valued at $473,000 after purchasing an additional 6,347 shares in the last quarter. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

Iris Energy Stock Down 24.2 %

Shares of NASDAQ IREN opened at $10.09 on Tuesday. The stock has a fifty day moving average price of $11.79 and a 200 day moving average price of $9.92. Iris Energy Limited has a 1-year low of $3.56 and a 1-year high of $15.92.

Iris Energy (NASDAQ:IREN) last released its earnings results on Tuesday, November 26th. The company reported ($0.22) EPS 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%. As a group, sell-side analysts expect that Iris Energy Limited will post 0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on IREN. HC Wainwright boosted their price objective on Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $15.00 price objective (up from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. Needham & Company LLC reiterated a “hold” rating on shares of Iris Energy in a research note on Wednesday, November 27th. Canaccord Genuity Group lifted their price target on Iris Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, B. Riley raised their target price on Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Iris Energy currently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

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.