Iris Energy Limited (NASDAQ:IREN) Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its stake in Iris Energy Limited (NASDAQ:IREN) by 123.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,322 shares of the company’s stock after buying an additional 27,212 shares during the period. Vontobel Holding Ltd.’s holdings in Iris Energy were worth $416,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in IREN. D1 Capital Partners L.P. acquired a new position in Iris Energy during the second quarter worth about $17,319,000. Hood River Capital Management LLC acquired a new position in shares of Iris Energy in the 2nd quarter valued at about $13,618,000. Marshall Wace LLP lifted its position in Iris Energy by 33.6% in the 2nd quarter. Marshall Wace LLP now owns 3,811,780 shares of the company’s stock worth $43,035,000 after buying an additional 958,494 shares in the last quarter. Bank of Montreal Can acquired a new stake in Iris Energy during the second quarter valued at $9,969,000. Finally, Vident Advisory LLC lifted its holdings in shares of Iris Energy by 58.0% during the 1st quarter. Vident Advisory LLC now owns 1,954,998 shares of the company’s stock valued at $10,557,000 after buying an additional 717,843 shares during the last quarter. Institutional investors and hedge funds own 41.08% of the company’s stock.

Iris Energy Stock Performance

IREN stock opened at $9.28 on Wednesday. The company has a 50 day moving average price of $8.04 and a 200 day moving average price of $8.52. Iris Energy Limited has a fifty-two week low of $2.79 and a fifty-two week high of $15.75.

Analysts Set New Price Targets

Several equities analysts have commented on IREN shares. JPMorgan Chase & Co. lowered their target price on shares of Iris Energy from $11.00 to $9.50 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. B. Riley cut their price objective on shares of Iris Energy from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $15.00 target price on shares of Iris Energy in a research report on Thursday, August 29th. HC Wainwright decreased their price target on Iris Energy from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Needham & Company LLC assumed coverage on shares of Iris Energy in a research note on Wednesday, September 4th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Iris Energy has a consensus rating of “Buy” and a consensus target price of $15.44.

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.