Trexquant Investment LP Lowers Stake in Iris Energy Limited (NASDAQ:IREN)

Trexquant Investment LP cut its position in Iris Energy Limited (NASDAQ:IREN) by 41.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 401,453 shares of the company’s stock after selling 284,539 shares during the quarter. Trexquant Investment LP’s holdings in Iris Energy were worth $3,942,000 at the end of the most recent reporting period.

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

Iris Energy Trading Down 1.7 %

Shares of Iris Energy stock opened at $5.94 on Friday. The stock has a 50 day moving average price of $9.04 and a 200-day moving average price of $10.05. Iris Energy Limited has a one year low of $4.15 and a one year high of $15.92.

Iris Energy (NASDAQ:IREN) last released 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 net margin of 17.94% and a negative return on equity of 3.98%. Sell-side analysts expect that Iris Energy Limited will post 0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

IREN has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Iris Energy in a research report on Thursday, February 13th. BTIG Research started coverage on shares of Iris Energy in a report on Friday, December 20th. They issued a “buy” rating and a $33.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 price target on shares of Iris Energy in a research note on Thursday, February 13th. Canaccord Genuity Group raised 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. Finally, B. Riley boosted their target price on Iris Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $20.40.

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.