Seven Eight Capital LP Invests $146,000 in Iris Energy Limited (NASDAQ:IREN)

Seven Eight Capital LP acquired a new position in Iris Energy Limited (NASDAQ:IREN) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,928 shares of the company’s stock, valued at approximately $146,000.

Other hedge funds have also recently made changes to their positions in the company. CCG Wealth Management LLC bought a new position in Iris Energy during the first quarter valued at approximately $72,000. VitalStone Financial LLC boosted its stake in Iris Energy by 373.9% during the first quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock valued at $71,000 after buying an additional 11,030 shares during the last quarter. Olympiad Research LP bought a new position in Iris Energy during the fourth quarter valued at approximately $173,000. PEAK6 Investments LLC bought a new position in Iris Energy during the first quarter valued at approximately $133,000. Finally, Chesapeake Capital Corp IL bought a new position in Iris Energy during the fourth quarter valued at approximately $221,000. Institutional investors own 41.08% of the company’s stock.

Iris Energy Trading Up 5.6 %

Shares of NASDAQ IREN opened at $7.93 on Tuesday. The business’s 50 day moving average price is $8.39 and its 200-day moving average price is $8.05. Iris Energy Limited has a fifty-two week low of $2.79 and a fifty-two week high of $15.75.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Needham & Company LLC assumed coverage on Iris Energy in a research note on Wednesday, September 4th. They set a “hold” rating for the company. Cantor Fitzgerald decreased their price objective on Iris Energy from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. Sanford C. Bernstein assumed coverage on Iris Energy in a research report on Wednesday, July 10th. They set an “outperform” rating and a $26.00 price objective on the stock. Compass Point decreased their price objective on Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Finally, B. Riley decreased their price objective 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. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently 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.