Yarra Square Partners LP Takes Position in Iris Energy Limited (NASDAQ:IREN)

Yarra Square Partners LP purchased a new stake in Iris Energy Limited (NASDAQ:IREN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 132,000 shares of the company’s stock, valued at approximately $1,490,000. Iris Energy makes up 1.3% of Yarra Square Partners LP’s investment portfolio, making the stock its 20th largest holding. Yarra Square Partners LP owned about 0.09% of Iris Energy as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of IREN. Russell Investments Group Ltd. purchased a new stake in shares of Iris Energy in the first quarter valued at approximately $893,000. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Iris Energy in the 2nd quarter worth $779,000. Quadrature Capital Ltd acquired a new position in Iris Energy during the fourth quarter worth $1,655,000. Commerce Bank purchased a new position in Iris Energy during the fourth quarter valued at $256,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Iris Energy in the first quarter valued at about $446,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

Iris Energy Stock Performance

Shares of NASDAQ:IREN opened at $7.51 on Friday. Iris Energy Limited has a 52-week low of $2.79 and a 52-week high of $15.75. The business has a fifty day moving average of $8.48 and a two-hundred day moving average of $8.01.

Wall Street Analysts Forecast Growth

IREN has been the subject of several research analyst reports. Macquarie upped their price target on shares of Iris Energy from $12.00 to $13.50 and gave the stock an “outperform” rating in a research report on Friday, August 30th. 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. HC Wainwright lowered their price target on Iris Energy from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. JPMorgan Chase & Co. reduced their price objective on Iris Energy from $11.00 to $9.50 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Finally, Cantor Fitzgerald dropped their target price on shares of Iris Energy from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.63.

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.