Corsair Capital Management L.P. Invests $782,000 in Iris Energy Limited (NASDAQ:IREN)

Corsair Capital Management L.P. acquired a new stake in shares of Iris Energy Limited (NASDAQ:IREN) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 92,604 shares of the company’s stock, valued at approximately $782,000.

A number of other institutional investors and hedge funds have also bought and sold shares of IREN. Russell Investments Group Ltd. purchased a new stake in shares of Iris Energy during the first quarter valued at approximately $893,000. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Iris Energy during the 2nd quarter valued at $779,000. Van ECK Associates Corp boosted its stake in Iris Energy by 56.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company’s stock valued at $13,938,000 after purchasing an additional 576,726 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Iris Energy by 123.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 49,322 shares of the company’s stock worth $416,000 after purchasing an additional 27,212 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Iris Energy by 71.2% in the third quarter. Creative Planning now owns 457,625 shares of the company’s stock worth $3,862,000 after purchasing an additional 190,300 shares during the last quarter. 41.08% of the stock is currently owned by institutional investors.

Iris Energy Price Performance

NASDAQ IREN opened at $10.47 on Wednesday. Iris Energy Limited has a 12 month low of $3.56 and a 12 month high of $15.75. The stock’s 50 day moving average is $9.32 and its 200 day moving average is $9.46.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IREN. Compass Point decreased their target price on Iris Energy from $18.50 to $16.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Roth Capital upgraded shares of Iris Energy to a “strong-buy” rating in a research report on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of Iris Energy in a report on Wednesday. Macquarie increased their target price on Iris Energy from $12.00 to $13.50 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, Roth Mkm started coverage on shares of Iris Energy in a report on Wednesday, October 2nd. They set a “buy” rating and a $14.00 target price for the company. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $16.00.

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.