Iris Energy Limited (NASDAQ:IREN) Shares Sold by Barclays PLC

Barclays PLC lessened its stake in Iris Energy Limited (NASDAQ:IREN) by 92.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 7,022 shares of the company’s stock after selling 82,098 shares during the quarter. Barclays PLC’s holdings in Iris Energy were worth $59,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in IREN. Bank of Montreal Can purchased a new stake in shares of Iris Energy during the second quarter worth about $9,969,000. Van ECK Associates Corp boosted its holdings in Iris Energy by 56.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company’s stock worth $13,938,000 after buying an additional 576,726 shares during the last quarter. Rush Island Management LP purchased a new stake in Iris Energy during the 3rd quarter worth approximately $4,783,000. Paloma Partners Management Co acquired a new position in shares of Iris Energy during the third quarter valued at approximately $2,739,000. Finally, Geode Capital Management LLC lifted its position in shares of Iris Energy by 56.3% in the third quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock valued at $6,204,000 after acquiring an additional 264,883 shares in the last quarter. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Roth Mkm assumed coverage on Iris Energy in a research report on Wednesday, October 2nd. They set a “buy” rating and a $14.00 price target for the company. Roth Capital raised shares of Iris Energy to a “strong-buy” rating in a report on Tuesday, October 1st. Needham & Company LLC reiterated a “hold” rating on shares of Iris Energy in a research report on Wednesday, November 27th. BTIG Research started coverage on shares of Iris Energy in a research report on Friday, December 20th. They set a “buy” rating and a $33.00 price target on the stock. Finally, Cantor Fitzgerald upped their price objective on shares of Iris Energy from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Iris Energy has a consensus rating of “Moderate Buy” and an average price target of $19.50.

Iris Energy Price Performance

Iris Energy stock opened at $13.32 on Friday. The firm has a 50 day simple moving average of $11.80 and a 200-day simple moving average of $9.96. 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 quarterly earnings data on Tuesday, November 26th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.11). Iris Energy had a negative net margin of 36.10% and a negative return on equity of 8.01%. Equities analysts forecast that Iris Energy Limited will post 0.12 EPS for the current 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.