Wellington Management Group LLP Has $116,000 Stock Position in Iris Energy Limited (NASDAQ:IREN)

Wellington Management Group LLP cut its stake in Iris Energy Limited (NASDAQ:IREN) by 67.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,825 shares of the company’s stock after selling 24,826 shares during the period. Wellington Management Group LLP’s holdings in Iris Energy were worth $116,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its position in Iris Energy by 1,307.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company’s stock valued at $55,825,000 after acquiring an additional 5,280,999 shares during the period. Highbridge Capital Management LLC bought a new stake in shares of Iris Energy in the 4th quarter worth about $1,519,000. X Square Capital LLC increased its position in shares of Iris Energy by 87.8% during the 4th quarter. X Square Capital LLC now owns 168,990 shares of the company’s stock worth $1,659,000 after purchasing an additional 78,990 shares in the last quarter. Sava Infond d.o.o. acquired a new stake in shares of Iris Energy during the 4th quarter worth about $167,000. Finally, JPMorgan Chase & Co. bought a new position in Iris Energy during the 4th quarter valued at about $587,000. Institutional investors own 41.08% of the company’s stock.

Iris Energy Price Performance

Shares of NASDAQ:IREN opened at $5.45 on Wednesday. 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 moving average price of $8.15 and a two-hundred day moving average price of $9.86.

Iris Energy (NASDAQ:IREN) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate 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%. On average, equities research analysts anticipate that Iris Energy Limited will post 0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IREN. Canaccord Genuity Group raised their price objective on shares of Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. BTIG Research initiated coverage on Iris Energy in a report on Friday, December 20th. They set a “buy” rating and a $33.00 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of Iris Energy in a research note on Thursday, February 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 target price on shares of Iris Energy in a research note on Thursday, February 13th. Finally, B. Riley upped their price target 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. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average 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.