Geode Capital Management LLC Increases Stake in Iris Energy Limited (NASDAQ:IREN)

Geode Capital Management LLC lifted its position in shares of Iris Energy Limited (NASDAQ:IREN) by 56.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 735,071 shares of the company’s stock after purchasing an additional 264,883 shares during the period. Geode Capital Management LLC owned 0.39% of Iris Energy worth $6,204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Central Asset Investments & Management Holdings HK Ltd purchased a new position in Iris Energy during the 2nd quarter valued at $779,000. Main Management ETF Advisors LLC purchased a new position in Iris Energy during the third quarter valued at $760,000. Van ECK Associates Corp raised its position in shares of Iris Energy by 56.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,671 shares of the company’s stock worth $13,938,000 after purchasing an additional 576,726 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Iris Energy by 123.1% in the third quarter. Vontobel Holding Ltd. now owns 49,322 shares of the company’s stock worth $416,000 after buying an additional 27,212 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of Iris Energy by 71.2% during the third quarter. Creative Planning now owns 457,625 shares of the company’s stock valued at $3,862,000 after buying an additional 190,300 shares during the last quarter. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Analyst Ratings Changes

IREN has been the topic of a number of research analyst reports. Roth Capital raised Iris Energy to a “strong-buy” rating in a report on Tuesday, October 1st. B. Riley lifted their price target on shares of Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Macquarie increased their price objective on shares of Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. BTIG Research started coverage on shares of Iris Energy in a research report on Friday, December 20th. They issued a “buy” rating and a $33.00 target price for the company. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $15.00 price target (up from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Iris Energy Trading Up 8.4 %

Shares of Iris Energy stock opened at $11.34 on Friday. Iris Energy Limited has a 1 year low of $3.56 and a 1 year high of $15.92. The firm’s 50-day moving average is $11.52 and its two-hundred day moving average is $10.17.

Iris Energy Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.