Van ECK Associates Corp Has $13.94 Million Stock Holdings in Iris Energy Limited (NASDAQ:IREN)

Van ECK Associates Corp lifted its holdings in shares of Iris Energy Limited (NASDAQ:IREN) by 56.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,605,671 shares of the company’s stock after buying an additional 576,726 shares during the period. Van ECK Associates Corp’s holdings in Iris Energy were worth $13,938,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of IREN. Truist Financial Corp raised its stake in Iris Energy by 3.2% during the second quarter. Truist Financial Corp now owns 51,575 shares of the company’s stock worth $582,000 after acquiring an additional 1,575 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Iris Energy by 13.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 54,515 shares of the company’s stock valued at $473,000 after purchasing an additional 6,347 shares during the last quarter. Bluefin Capital Management LLC acquired a new position in Iris Energy during the 2nd quarter worth approximately $113,000. AFG Fiduciary Services Limited Partnership bought a new position in Iris Energy in the 3rd quarter valued at approximately $77,000. Finally, VitalStone Financial LLC boosted its position in Iris Energy by 373.9% in the first quarter. VitalStone Financial LLC now owns 13,980 shares of the company’s stock valued at $71,000 after buying an additional 11,030 shares in the last quarter. 41.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on IREN shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 price target on shares of Iris Energy in a research note on Thursday, August 29th. Sanford C. Bernstein started coverage on Iris Energy in a research note on Wednesday, July 10th. They set an “outperform” rating and a $26.00 price target on the stock. Needham & Company LLC began coverage on Iris Energy in a research note on Wednesday, September 4th. They issued a “hold” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $20.00 target price on shares of Iris Energy in a research report on Wednesday, October 30th. Finally, Roth Mkm initiated coverage on shares of Iris Energy in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 price target for the company. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $15.44.

Iris Energy Price Performance

Shares of NASDAQ:IREN opened at $8.94 on Wednesday. The business’s 50-day moving average is $8.32 and its 200-day moving average is $8.85. Iris Energy Limited has a 1 year low of $2.79 and a 1 year high of $15.75.

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.