Creative Planning Acquires 190,300 Shares of Iris Energy Limited (NASDAQ:IREN)

Creative Planning lifted its holdings in Iris Energy Limited (NASDAQ:IREN) by 71.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 457,625 shares of the company’s stock after acquiring an additional 190,300 shares during the quarter. Creative Planning owned 0.31% of Iris Energy worth $3,862,000 at the end of the most recent quarter.

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

Iris Energy Price Performance

NASDAQ IREN opened at $9.25 on Friday. Iris Energy Limited has a 12 month low of $2.79 and a 12 month high of $15.75. The stock’s fifty day moving average price is $8.13 and its 200-day moving average price is $8.55.

Analysts Set New Price Targets

A number of research firms have commented on IREN. Compass Point lowered their price target on Iris Energy from $18.50 to $16.00 and set a “buy” rating for the company in a research report on Friday, August 30th. HC Wainwright dropped their price target on Iris Energy from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Needham & Company LLC initiated coverage on shares of Iris Energy in a report on Wednesday, September 4th. They issued a “hold” rating for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 target price on shares of Iris Energy in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Iris Energy from $11.00 to $9.50 and set an “overweight” rating for the company in a research note on Friday, August 23rd. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $15.44.

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.