Barclays PLC Sells 82,098 Shares of Iris Energy Limited (NASDAQ:IREN)

Barclays PLC cut its holdings in shares of Iris Energy Limited (NASDAQ:IREN) by 92.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,022 shares of the company’s stock after selling 82,098 shares during the period. Barclays PLC’s holdings in Iris Energy were worth $59,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position 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 acquiring an additional 576,726 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Iris Energy during the 2nd quarter worth $9,969,000. Regal Partners Ltd boosted its position in Iris Energy by 2.7% during the third quarter. Regal Partners Ltd now owns 875,303 shares of the company’s stock valued at $7,388,000 after purchasing an additional 23,132 shares in the last quarter. Geode Capital Management LLC grew its stake in Iris Energy by 56.3% in the third quarter. Geode Capital Management LLC now owns 735,071 shares of the company’s stock valued at $6,204,000 after purchasing an additional 264,883 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in Iris Energy by 23.7% in the third quarter. Exchange Traded Concepts LLC now owns 713,635 shares of the company’s stock worth $6,023,000 after purchasing an additional 136,643 shares in the last quarter. 41.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IREN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. restated 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. Cantor Fitzgerald lifted their price target on shares of Iris Energy from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. HC Wainwright upped their price target on Iris Energy from $13.00 to $16.00 and gave the stock a “buy” rating in a research report 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 price objective for the company. Finally, Canaccord Genuity Group boosted their target price on Iris Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Iris Energy Price Performance

Shares of IREN stock opened at $13.32 on Friday. Iris Energy Limited has a fifty-two week low of $3.56 and a fifty-two week high of $15.92. The stock’s 50-day simple moving average is $11.80 and its 200-day simple moving average is $9.96.

Iris Energy (NASDAQ:IREN) last posted its quarterly earnings results on Tuesday, November 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.11). Iris Energy had a negative return on equity of 8.01% and a negative net margin of 36.10%. As a group, equities analysts predict that Iris Energy Limited will post 0.12 earnings per share for the current fiscal year.

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.