1,175,600 Shares in Iris Energy Limited (NASDAQ:IREN) Purchased by Discovery Capital Management LLC CT

Discovery Capital Management LLC CT bought a new stake in shares of Iris Energy Limited (NASDAQ:IREN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,175,600 shares of the company’s stock, valued at approximately $11,544,000. Discovery Capital Management LLC CT owned approximately 0.63% of Iris Energy as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new stake in shares of Iris Energy in the fourth quarter worth $29,000. HM Payson & Co. bought a new position in shares of Iris Energy in the fourth quarter worth approximately $30,000. R Squared Ltd bought a new stake in Iris Energy in the 4th quarter worth $37,000. World Equity Group Inc. purchased a new position in Iris Energy during the 4th quarter valued at about $98,000. Finally, Farther Finance Advisors LLC purchased a new position in shares of Iris Energy during the fourth quarter valued at approximately $98,000. 41.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IREN has been the topic of several research reports. Canaccord Genuity Group lifted their price objective on Iris Energy from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. HC Wainwright lifted their price target on Iris Energy from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. BTIG Research started coverage on Iris Energy in a report on Friday, December 20th. They issued a “buy” rating and a $33.00 price objective for the company. B. Riley lifted their price target on shares of Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Macquarie boosted their price objective on shares of Iris Energy from $13.50 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Iris Energy has a consensus rating of “Buy” and an average price target of $20.40.

Iris Energy Price Performance

NASDAQ:IREN opened at $6.09 on Tuesday. The business’s 50-day simple moving average is $9.49 and its two-hundred day simple moving average is $10.10. Iris Energy Limited has a 52 week low of $4.15 and a 52 week high of $15.92.

Iris Energy (NASDAQ:IREN) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.13. Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. As a group, analysts expect that Iris Energy Limited will post 0.43 EPS for the current fiscal year.

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.