Iris Energy Limited (NASDAQ:IREN) Shares Bought by State Street Corp

State Street Corp lifted its position in shares of Iris Energy Limited (NASDAQ:IREN) by 62.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,759 shares of the company’s stock after buying an additional 30,576 shares during the period. State Street Corp’s holdings in Iris Energy were worth $673,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. D1 Capital Partners L.P. acquired a new position in shares of Iris Energy during the second quarter worth about $17,319,000. Hood River Capital Management LLC acquired a new stake in Iris Energy in the second quarter valued at approximately $13,618,000. Marshall Wace LLP raised its stake in shares of Iris Energy by 33.6% during the second quarter. Marshall Wace LLP now owns 3,811,780 shares of the company’s stock valued at $43,035,000 after purchasing an additional 958,494 shares during the period. Bank of Montreal Can acquired a new position in shares of Iris Energy during the second quarter worth $9,969,000. Finally, Van ECK Associates Corp boosted its stake in shares of Iris Energy by 56.1% in the third 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 period. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

Iris Energy Price Performance

IREN opened at $11.34 on Friday. The stock’s fifty day moving average is $11.52 and its 200-day moving average is $10.17. Iris Energy Limited has a one year low of $3.56 and a one year high of $15.92.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IREN. Canaccord Genuity Group boosted their price objective on shares of Iris Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Needham & Company LLC restated a “hold” rating on shares of Iris Energy in a research note on Wednesday, November 27th. Roth Mkm started coverage on Iris Energy in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 target price on the stock. HC Wainwright raised their price target on shares of Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, B. Riley upped their price target on shares of Iris Energy from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Iris Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

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.