Avaii Wealth Management LLC Has $357,000 Stake in Iris Energy Limited (NASDAQ:IREN)

Avaii Wealth Management LLC lifted its stake in shares of Iris Energy Limited (NASDAQ:IREN) by 89.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,267 shares of the company’s stock after purchasing an additional 20,013 shares during the period. Avaii Wealth Management LLC’s holdings in Iris Energy were worth $357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in shares of Iris Energy in the first quarter worth approximately $893,000. Central Asset Investments & Management Holdings HK Ltd bought a new position in Iris Energy during the 2nd quarter valued at $779,000. Daiwa Securities Group Inc. bought a new stake in Iris Energy in the 1st quarter worth about $446,000. Van ECK Associates Corp boosted its position in Iris Energy by 23.7% in the first quarter. Van ECK Associates Corp now owns 1,837,683 shares of the company’s stock worth $9,924,000 after purchasing an additional 351,774 shares during the last quarter. Finally, VitalStone Financial LLC grew its position in shares of Iris Energy by 95.1% during the 3rd quarter. VitalStone Financial LLC now owns 154,681 shares of the company’s stock valued at $1,306,000 after acquiring an additional 75,396 shares during the period. Institutional investors own 41.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on IREN shares. Macquarie lifted their price objective on Iris Energy from $12.00 to $13.50 and gave the stock an “outperform” rating in a report on Friday, August 30th. JPMorgan Chase & Co. lowered their price objective on Iris Energy from $11.00 to $9.50 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Needham & Company LLC initiated coverage on Iris Energy in a report on Wednesday, September 4th. They set a “hold” rating for the company. B. Riley reduced their price target on Iris Energy from $17.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 target price on shares of Iris Energy in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.44.

Iris Energy Price Performance

NASDAQ IREN traded down $0.11 on Thursday, hitting $9.24. The stock had a trading volume of 7,686,673 shares, compared to its average volume of 12,630,866. The business’s fifty day moving average price is $7.89 and its 200 day moving average price is $8.41. Iris Energy Limited has a 52-week low of $2.79 and a 52-week high of $15.75.

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.