Central Asset Investments & Management Holdings HK Ltd Takes $550,000 Position in Iris Energy Limited (NASDAQ:IREN)

Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of Iris Energy Limited (NASDAQ:IREN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 55,964 shares of the company’s stock, valued at approximately $550,000.

Several other institutional investors and hedge funds have also modified their holdings of IREN. Stonebridge Financial Group LLC bought a new position in Iris Energy in the fourth quarter valued at about $29,000. R Squared Ltd bought a new stake in shares of Iris Energy during the 4th quarter valued at approximately $37,000. Covestor Ltd acquired a new position in Iris Energy during the 3rd quarter worth approximately $87,000. Sippican Capital Advisors bought a new position in Iris Energy in the 3rd quarter valued at approximately $94,000. Finally, World Equity Group Inc. acquired a new stake in Iris Energy in the fourth quarter valued at approximately $98,000. 41.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on IREN shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $15.00 price target (up from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. Canaccord Genuity Group upped their target price on Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. BTIG Research started coverage on Iris Energy in a research note on Friday, December 20th. They set a “buy” rating and a $33.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 price objective on shares of Iris Energy in a research note on Thursday, February 13th. Finally, B. Riley lifted their target price on shares of Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.70.

Iris Energy Price Performance

NASDAQ:IREN opened at $8.49 on Thursday. Iris Energy Limited has a fifty-two week low of $4.15 and a fifty-two week high of $15.92. The company has a 50 day simple moving average of $11.29 and a two-hundred day simple moving average of $10.16.

Iris Energy (NASDAQ:IREN) last announced its earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.13. Iris Energy had a negative net margin of 17.94% and a negative return on equity of 3.98%. As a group, equities research analysts anticipate that Iris Energy Limited will post 0.43 earnings per share for the current year.

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.