X Square Capital LLC Acquires 78,990 Shares of Iris Energy Limited (NASDAQ:IREN)

X Square Capital LLC boosted its position in Iris Energy Limited (NASDAQ:IREN) by 87.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,990 shares of the company’s stock after buying an additional 78,990 shares during the period. X Square Capital LLC owned approximately 0.09% of Iris Energy worth $1,659,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Rush Island Management LP bought a new position in shares of Iris Energy during the 3rd quarter valued at approximately $4,783,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 acquiring an additional 348,864 shares during the last quarter. Paloma Partners Management Co bought a new stake in Iris Energy during the third quarter worth about $2,739,000. Geode Capital Management LLC boosted its holdings in shares of Iris Energy by 56.3% in the 3rd quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock worth $6,204,000 after purchasing an additional 264,883 shares in the last quarter. Finally, Calamos Advisors LLC purchased a new position in shares of Iris Energy during the 4th quarter valued at about $1,899,000. 41.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IREN. JPMorgan Chase & Co. raised Iris Energy from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $15.00 to $12.00 in a research note on Thursday, March 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 price objective on shares of Iris Energy in a research note on Thursday, February 13th. Macquarie lifted their target price on shares of Iris Energy from $13.50 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. HC Wainwright increased their price target on shares of Iris Energy from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group upped their price objective on shares of Iris Energy from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One equities 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. According to MarketBeat, Iris Energy presently has an average rating of “Buy” and an average price target of $20.40.

Iris Energy Stock Performance

IREN opened at $6.46 on Friday. Iris Energy Limited has a 52 week low of $4.15 and a 52 week high of $15.92. The business has a 50 day moving average of $9.73 and a 200-day moving average of $10.08.

Iris Energy (NASDAQ:IREN) last announced its earnings results on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, analysts expect that Iris Energy Limited will post 0.43 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.