Headlands Technologies LLC Trims Stake in Iris Energy Limited (NASDAQ:IREN)

Headlands Technologies LLC lessened its stake in Iris Energy Limited (NASDAQ:IREN) by 94.6% during the 4th quarter, HoldingsChannel reports. The firm owned 25,063 shares of the company’s stock after selling 436,329 shares during the quarter. Headlands Technologies LLC’s holdings in Iris Energy were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baader Bank Aktiengesellschaft grew its position in Iris Energy by 66.7% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 125,000 shares of the company’s stock valued at $1,228,000 after buying an additional 50,000 shares during the period. Vontobel Holding Ltd. grew its position in shares of Iris Energy by 13.4% during the 4th quarter. Vontobel Holding Ltd. now owns 55,923 shares of the company’s stock valued at $549,000 after acquiring an additional 6,601 shares during the period. Main Management ETF Advisors LLC purchased a new position in shares of Iris Energy in the 3rd quarter valued at about $760,000. Private Advisor Group LLC acquired a new position in Iris Energy in the 4th quarter worth about $120,000. Finally, Geode Capital Management LLC raised its holdings in Iris Energy by 56.3% in the 3rd quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock worth $6,204,000 after purchasing an additional 264,883 shares during the period. Institutional investors and hedge funds own 41.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IREN. Canaccord Genuity Group boosted their price objective on Iris Energy from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. B. Riley upped their price objective 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 price objective on shares of Iris Energy in a report on Thursday, February 13th. HC Wainwright upped their price target on shares of Iris Energy from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, BTIG Research began coverage on Iris Energy in a report on Friday, December 20th. They issued a “buy” rating and a $33.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $20.40.

Iris Energy Stock Performance

IREN stock opened at $5.94 on Friday. Iris Energy Limited has a 1 year low of $4.15 and a 1 year high of $15.92. The business has a 50 day simple moving average of $9.04 and a 200-day simple moving average of $10.03.

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

Iris Energy Company Profile

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