Barclays PLC Trims Stake in Iris Energy Limited (NASDAQ:IREN)

Barclays PLC decreased its stake in shares of Iris Energy Limited (NASDAQ:IREN) by 92.1% in the 3rd quarter, according to its most recent Form 13F filing 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 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in IREN. AFG Fiduciary Services Limited Partnership purchased a new stake in Iris Energy in the 3rd quarter worth approximately $77,000. Covestor Ltd acquired a new stake in shares of Iris Energy during the third quarter worth $87,000. Sippican Capital Advisors purchased a new stake in shares of Iris Energy in the third quarter valued at $94,000. Bluefin Capital Management LLC acquired a new position in Iris Energy in the second quarter valued at $113,000. Finally, Seven Eight Capital LP purchased a new position in Iris Energy during the second quarter worth about $146,000. 41.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IREN has been the subject of a number of research analyst reports. B. Riley upped their price objective on shares of Iris Energy from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $15.00 price target (up previously from $9.50) on shares of Iris Energy in a research report on Tuesday, December 10th. Needham & Company LLC reiterated a “hold” rating on shares of Iris Energy in a report on Wednesday, November 27th. Macquarie upped their price objective on Iris Energy from $13.50 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Cantor Fitzgerald lifted their target price on Iris Energy from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Two research 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 MarketBeat.com, Iris Energy presently has an average rating of “Moderate Buy” and an average target price of $19.50.

Iris Energy Stock Down 7.6 %

Shares of NASDAQ IREN opened at $10.51 on Friday. Iris Energy Limited has a 1-year low of $3.56 and a 1-year high of $15.92. The business has a 50-day moving average of $11.56 and a 200-day moving average of $10.09.

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.