Iris Energy Limited (NASDAQ:IREN) Shares Acquired by Truist Financial Corp

Truist Financial Corp lifted its stake in shares of Iris Energy Limited (NASDAQ:IREN) by 3.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,575 shares of the company’s stock after buying an additional 1,575 shares during the quarter. Truist Financial Corp’s holdings in Iris Energy were worth $582,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quadrature Capital Ltd boosted its holdings in Iris Energy by 719.8% in the fourth quarter. Quadrature Capital Ltd now owns 232,312 shares of the company’s stock valued at $1,655,000 after purchasing an additional 203,976 shares in the last quarter. CCG Wealth Management LLC acquired a new position in Iris Energy in the first quarter valued at approximately $72,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Iris Energy in the first quarter valued at approximately $502,000. Van ECK Associates Corp boosted its holdings in Iris Energy by 23.7% in the first quarter. Van ECK Associates Corp now owns 1,837,683 shares of the company’s stock valued at $9,924,000 after purchasing an additional 351,774 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in Iris Energy in the first quarter valued at approximately $446,000. 41.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IREN shares. Sanford C. Bernstein started coverage on Iris Energy in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $26.00 price objective for the company. Compass Point reduced their price objective on Iris Energy from $18.50 to $16.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Roth Mkm started coverage on Iris Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on Iris Energy from $11.00 to $9.50 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Finally, Canaccord Genuity Group restated a “buy” rating and set a $15.00 price target on shares of Iris Energy in a research note on Thursday, August 29th. One analyst has 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $15.44.

Iris Energy Trading Up 2.3 %

NASDAQ:IREN opened at $8.73 on Wednesday. The stock has a fifty day moving average price of $7.84 and a two-hundred day moving average price of $8.40. Iris Energy Limited has a 1 year low of $2.79 and a 1 year high of $15.75.

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.