Mirae Asset Global Investments Co. Ltd. Has $7.42 Million Position in Iris Energy Limited (NASDAQ:IREN)

Mirae Asset Global Investments Co. Ltd. increased its position in Iris Energy Limited (NASDAQ:IREN) by 52.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,037,420 shares of the company’s stock after buying an additional 356,752 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 1.56% of Iris Energy worth $7,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Regal Partners Ltd increased its position in Iris Energy by 19.8% during the 2nd quarter. Regal Partners Ltd now owns 1,420,633 shares of the company’s stock valued at $6,620,000 after purchasing an additional 235,027 shares during the period. Barclays PLC acquired a new stake in Iris Energy during the 4th quarter valued at approximately $248,000. Exchange Traded Concepts LLC increased its position in Iris Energy by 47.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 613,818 shares of the company’s stock valued at $4,389,000 after purchasing an additional 196,635 shares during the period. Geode Capital Management LLC increased its position in Iris Energy by 613.4% during the 2nd quarter. Geode Capital Management LLC now owns 217,405 shares of the company’s stock valued at $1,013,000 after purchasing an additional 186,930 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in Iris Energy by 1,079.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 203,687 shares of the company’s stock valued at $756,000 after purchasing an additional 186,420 shares during the period. Institutional investors and hedge funds own 41.08% of the company’s stock.

Iris Energy Stock Performance

Iris Energy stock opened at $4.65 on Friday. Iris Energy Limited has a 52-week low of $2.79 and a 52-week high of $9.69. The stock’s 50 day moving average price is $5.64 and its two-hundred day moving average price is $4.92.

Iris Energy (NASDAQ:IREN) last issued its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter. The company had revenue of $42.57 million during the quarter, compared to the consensus estimate of $37.58 million. Analysts anticipate that Iris Energy Limited will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IREN. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Iris Energy in a research report on Tuesday, April 2nd. B. Riley cut their price target on Iris Energy from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Friday, March 15th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Iris Energy in a report on Thursday, March 28th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $9.00 price target on shares of Iris Energy in a report on Thursday, March 28th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $12.00.

Iris Energy Company Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.