Dynamic Technology Lab Private Ltd Invests $1.37 Million in Iris Energy Limited (NASDAQ:IREN)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Iris Energy Limited (NASDAQ:IREN) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 162,412 shares of the company’s stock, valued at approximately $1,371,000. Dynamic Technology Lab Private Ltd owned 0.09% of Iris Energy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IREN. Russell Investments Group Ltd. bought a new position in Iris Energy during the first quarter valued at about $893,000. PEAK6 Investments LLC purchased a new stake in shares of Iris Energy during the first quarter valued at $133,000. Goldentree Asset Management LP acquired a new position in shares of Iris Energy in the 1st quarter valued at $626,000. Cambridge Investment Research Advisors Inc. increased its stake in Iris Energy by 1,521.1% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 188,051 shares of the company’s stock worth $2,123,000 after purchasing an additional 176,451 shares in the last quarter. Finally, MKP Capital Management L.L.C. acquired a new stake in Iris Energy during the 2nd quarter worth about $3,139,000. Institutional investors own 41.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on IREN shares. Roth Mkm began coverage on shares of Iris Energy in a report on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 target price for the company. HC Wainwright decreased their price objective on shares of Iris Energy from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 target price on shares of Iris Energy in a research note on Wednesday, October 30th. Macquarie increased their target price on Iris Energy from $12.00 to $13.50 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, Needham & Company LLC started coverage on Iris Energy in a report on Wednesday, September 4th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $15.44.

Iris Energy Price Performance

IREN opened at $9.56 on Wednesday. The stock has a fifty day moving average price of $9.29 and a 200 day moving average price of $9.43. Iris Energy Limited has a 1 year low of $3.41 and a 1 year high of $15.75.

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.