Charles Schwab Investment Management Inc. Boosts Stake in Iris Energy Limited (NASDAQ:IREN)

Charles Schwab Investment Management Inc. boosted its stake in shares of Iris Energy Limited (NASDAQ:IREN) by 8.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 362,026 shares of the company’s stock after purchasing an additional 29,311 shares during the period. Charles Schwab Investment Management Inc. owned about 0.19% of Iris Energy worth $3,055,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. AFG Fiduciary Services Limited Partnership bought a new position in shares of Iris Energy in the third quarter worth about $77,000. Covestor Ltd purchased a new stake in Iris Energy in the 3rd quarter worth approximately $87,000. Sippican Capital Advisors bought a new stake in Iris Energy during the 3rd quarter worth approximately $94,000. Bluefin Capital Management LLC purchased a new position in Iris Energy during the second quarter valued at approximately $113,000. Finally, Seven Eight Capital LP bought a new position in shares of Iris Energy in the second quarter worth approximately $146,000. Institutional investors own 41.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IREN. Cantor Fitzgerald raised their price objective on shares of Iris Energy from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. HC Wainwright increased their price target on Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Needham & Company LLC restated a “hold” rating on shares of Iris Energy in a research report on Wednesday, November 27th. B. Riley cut their target price on Iris Energy from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $15.00 price target (up from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.56.

Iris Energy Stock Down 2.4 %

NASDAQ:IREN opened at $13.11 on Friday. Iris Energy Limited has a 1 year low of $3.56 and a 1 year high of $15.92. The stock’s 50 day simple moving average is $10.69 and its two-hundred day simple moving average is $10.07.

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.