Vontobel Holding Ltd. Has $449,000 Position in Iris Energy Limited (NASDAQ:IREN)

Vontobel Holding Ltd. raised its stake in Iris Energy Limited (NASDAQ:IREN) by 123.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,791 shares of the company’s stock after purchasing an additional 34,662 shares during the period. Vontobel Holding Ltd. owned 0.09% of Iris Energy worth $449,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tucker Asset Management LLC acquired a new position in shares of Iris Energy in the third quarter valued at about $47,000. Exchange Traded Concepts LLC grew its stake in shares of Iris Energy by 47.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 613,818 shares of the company’s stock valued at $4,389,000 after acquiring an additional 196,635 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Iris Energy by 52.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,037,420 shares of the company’s stock valued at $7,418,000 after acquiring an additional 356,752 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Iris Energy by 19.7% in the third quarter. Van ECK Associates Corp now owns 1,117,769 shares of the company’s stock valued at $4,147,000 after acquiring an additional 184,039 shares in the last quarter. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IREN shares. B. Riley cut their price objective on shares of Iris Energy from $10.00 to $9.50 and set a “buy” rating for the company in a research report on Friday, March 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Iris Energy in a research report on Thursday, March 28th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $9.00 price objective on shares of Iris Energy in a research report on Thursday, March 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Iris Energy in a research report on Tuesday, April 2nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Iris Energy currently has a consensus rating of “Buy” and an average target price of $12.00.

Iris Energy Price Performance

IREN stock opened at $5.58 on Wednesday. Iris Energy Limited has a 12 month low of $2.79 and a 12 month high of $9.69. The firm has a 50-day moving average price of $5.62 and a 200-day moving average price of $4.98.

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

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.