Mitsubishi UFJ Asset Management Co. Ltd. Takes $179,000 Position in Iris Energy Limited (NASDAQ:IREN)

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Iris Energy Limited (NASDAQ:IREN) in the fourth quarter, HoldingsChannel reports. The firm acquired 18,233 shares of the company’s stock, valued at approximately $179,000.

Several other hedge funds have also added to or reduced their stakes in IREN. Geode Capital Management LLC raised its stake in shares of Iris Energy by 56.3% during 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in Iris Energy by 96.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 710,890 shares of the company’s stock worth $6,981,000 after purchasing an additional 348,864 shares during the last quarter. Rush Island Management LP acquired a new position in Iris Energy during the 3rd quarter worth about $4,783,000. Y Intercept Hong Kong Ltd grew its position in shares of Iris Energy by 592.2% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 206,706 shares of the company’s stock valued at $1,745,000 after buying an additional 176,843 shares during the last quarter. Finally, Calamos Advisors LLC acquired a new stake in shares of Iris Energy in the fourth quarter valued at about $1,899,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Iris Energy Trading Down 10.7 %

Shares of NASDAQ:IREN opened at $6.04 on Friday. The business’s 50 day simple moving average is $9.18 and its two-hundred day simple moving average is $10.04. Iris Energy Limited has a 52-week low of $4.15 and a 52-week high of $15.92.

Iris Energy (NASDAQ:IREN) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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.

Analyst Ratings Changes

Several brokerages recently commented on IREN. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 target price on shares of Iris Energy in a report on Thursday, February 13th. HC Wainwright increased their price objective 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. B. Riley boosted their target price on shares of Iris Energy from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Canaccord Genuity Group increased their price target on Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, BTIG Research started coverage on Iris Energy in a research note on Friday, December 20th. They issued a “buy” rating and a $33.00 price objective on the stock. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.40.

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.