Gordian Capital Singapore Pte Ltd Purchases New Holdings in Iris Energy Limited (NASDAQ:IREN)

Gordian Capital Singapore Pte Ltd acquired a new position in shares of Iris Energy Limited (NASDAQ:IREN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 13,223 shares of the company’s stock, valued at approximately $149,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Truist Financial Corp grew its holdings in shares of Iris Energy by 3.2% during the 2nd quarter. Truist Financial Corp now owns 51,575 shares of the company’s stock worth $582,000 after purchasing an additional 1,575 shares in the last quarter. VitalStone Financial LLC grew its stake in Iris Energy by 373.9% during the first quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock worth $71,000 after buying an additional 11,030 shares in the last quarter. Seven Eight Capital LP bought a new position in Iris Energy in the 2nd quarter valued at about $146,000. CCG Wealth Management LLC acquired a new position in shares of Iris Energy in the 1st quarter valued at approximately $72,000. Finally, Dana Investment Advisors Inc. bought a new stake in shares of Iris Energy during the 2nd quarter worth approximately $161,000. Institutional investors own 41.08% of the company’s stock.

Iris Energy Price Performance

Shares of IREN stock opened at $7.73 on Wednesday. The business’s 50-day moving average price is $8.14 and its 200-day moving average price is $8.18. Iris Energy Limited has a 12 month low of $2.79 and a 12 month high of $15.75.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IREN. Compass Point decreased their price objective on shares of Iris Energy from $18.50 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. JPMorgan Chase & Co. decreased their price target on Iris Energy from $11.00 to $9.50 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Macquarie upped their price objective on Iris Energy from $12.00 to $13.50 and gave the stock an “outperform” rating in a research report on Friday, August 30th. B. Riley decreased their target price on Iris Energy from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Finally, HC Wainwright lowered their target price 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. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.63.

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.