Parametrica Management Ltd Invests $136,000 in Iris Energy Limited (NASDAQ:IREN)

Parametrica Management Ltd purchased a new stake in Iris Energy Limited (NASDAQ:IREN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,803 shares of the company’s stock, valued at approximately $136,000.

A number of other large investors also recently bought and sold shares of IREN. Baader Bank Aktiengesellschaft lifted its holdings 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 purchasing an additional 50,000 shares in the last quarter. Vontobel Holding Ltd. raised 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 worth $549,000 after purchasing an additional 6,601 shares during the last quarter. Main Management ETF Advisors LLC purchased a new position in Iris Energy in the 3rd quarter valued at about $760,000. Private Advisor Group LLC acquired a new stake in Iris Energy in the 4th quarter worth about $120,000. Finally, Geode Capital Management LLC increased its stake in Iris Energy by 56.3% during the 3rd quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock worth $6,204,000 after buying an additional 264,883 shares in the last quarter. Institutional investors and hedge funds own 41.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IREN shares. JPMorgan Chase & Co. raised shares of Iris Energy from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $15.00 to $12.00 in a research note on Thursday, March 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 target price on shares of Iris Energy in a research report on Thursday, February 13th. HC Wainwright raised their price target on Iris Energy from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. BTIG Research began coverage on shares of Iris Energy in a report on Friday, December 20th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Iris Energy in a report on Thursday, February 13th. One research 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $20.40.

Iris Energy Stock Down 3.8 %

IREN stock opened at $7.40 on Wednesday. Iris Energy Limited has a 1 year low of $4.15 and a 1 year high of $15.92. The stock’s 50 day moving average price is $9.92 and its 200 day moving average price is $10.13.

Iris Energy (NASDAQ:IREN) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, topping 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%. On average, research analysts expect that Iris Energy Limited will post 0.43 earnings per share for the current fiscal 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.