Balyasny Asset Management L.P. Increases Stake in Iris Energy Limited (NASDAQ:IREN)

Balyasny Asset Management L.P. grew its stake in Iris Energy Limited (NASDAQ:IREN) by 6.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 351,219 shares of the company’s stock after buying an additional 22,635 shares during the quarter. Balyasny Asset Management L.P. owned 0.19% of Iris Energy worth $3,449,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new position in shares of Iris Energy in the 4th quarter valued at about $29,000. HM Payson & Co. acquired a new stake in shares of Iris Energy during the 4th quarter worth about $30,000. R Squared Ltd acquired a new stake in shares of Iris Energy during the 4th quarter worth about $37,000. Tower Research Capital LLC TRC raised its position in shares of Iris Energy by 1,059.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company’s stock worth $82,000 after acquiring an additional 7,646 shares in the last quarter. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Iris Energy during the 4th quarter worth about $98,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IREN. Needham & Company LLC reissued a “hold” rating on shares of Iris Energy in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised Iris Energy from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $15.00 to $12.00 in a research report on Thursday, March 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 target price on shares of Iris Energy in a research report on Thursday, February 13th. HC Wainwright raised their target price on Iris Energy from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group lifted their price target on Iris Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. 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 MarketBeat, Iris Energy has a consensus rating of “Buy” and a consensus target price of $20.40.

Iris Energy Stock Up 2.3%

IREN opened at $7.05 on Monday. Iris Energy Limited has a 52 week low of $4.65 and a 52 week high of $15.92. The business’s 50 day moving average is $6.44 and its two-hundred day moving average is $9.59.

Iris Energy (NASDAQ:IREN) last released its earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.13. Iris Energy had a negative return on equity of 3.98% and a negative net margin of 17.94%. Sell-side analysts forecast that Iris Energy Limited will post 0.43 EPS for the current year.

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.