11,100 Shares in Iris Energy Limited (NASDAQ:IREN) Bought by Sippican Capital Advisors

Sippican Capital Advisors purchased a new position in Iris Energy Limited (NASDAQ:IREN) during the third quarter, Holdings Channel reports. The firm purchased 11,100 shares of the company’s stock, valued at approximately $94,000.

A number of other hedge funds also recently modified their holdings of the stock. Marshall Wace LLP increased its position in shares of Iris Energy by 33.6% in the second quarter. Marshall Wace LLP now owns 3,811,780 shares of the company’s stock worth $43,035,000 after purchasing an additional 958,494 shares during the period. Vident Advisory LLC increased its position in shares of Iris Energy by 58.0% in the first quarter. Vident Advisory LLC now owns 1,954,998 shares of the company’s stock worth $10,557,000 after purchasing an additional 717,843 shares during the period. Van ECK Associates Corp increased its position in shares of Iris Energy by 23.7% in the first quarter. Van ECK Associates Corp now owns 1,837,683 shares of the company’s stock worth $9,924,000 after purchasing an additional 351,774 shares during the period. D1 Capital Partners L.P. bought a new position in Iris Energy in the second quarter valued at about $17,319,000. Finally, Hood River Capital Management LLC bought a new position in Iris Energy in the second quarter valued at about $13,618,000. Institutional investors own 41.08% of the company’s stock.

Iris Energy Price Performance

Shares of Iris Energy stock traded down $0.24 during midday trading on Thursday, reaching $10.08. The company had a trading volume of 1,327,285 shares, compared to its average volume of 12,910,735. The stock has a fifty day moving average price of $8.23 and a 200 day moving average price of $8.69. Iris Energy Limited has a fifty-two week low of $2.79 and a fifty-two week high of $15.75.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IREN. HC Wainwright decreased their target price on Iris Energy from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Needham & Company LLC began coverage on Iris Energy in a research report on Wednesday, September 4th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. decreased their target price on Iris Energy from $11.00 to $9.50 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. B. Riley decreased their target price on Iris Energy from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Finally, Roth Mkm assumed coverage on Iris Energy in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 target price on the stock. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Iris Energy has an average rating of “Buy” and a consensus price target of $15.44.

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.