Evolution Wealth Advisors LLC Buys New Stake in Iris Energy Limited (NASDAQ:IREN)

Evolution Wealth Advisors LLC bought a new position in Iris Energy Limited (NASDAQ:IREN) during the 3rd quarter, Holdings Channel reports. The fund bought 44,050 shares of the company’s stock, valued at approximately $372,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IREN. Russell Investments Group Ltd. acquired a new position in shares of Iris Energy during the 1st quarter worth about $893,000. Vident Advisory LLC increased its position in Iris Energy by 58.0% in the 1st quarter. Vident Advisory LLC now owns 1,954,998 shares of the company’s stock worth $10,557,000 after buying an additional 717,843 shares during the period. K2 Principal Fund L.P. acquired a new position in shares of Iris Energy during the first quarter worth approximately $675,000. PEAK6 Investments LLC bought a new stake in shares of Iris Energy in the first quarter valued at approximately $133,000. Finally, Goldentree Asset Management LP acquired a new stake in shares of Iris Energy in the first quarter worth $626,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

Iris Energy Trading Up 3.3 %

Shares of NASDAQ IREN opened at $10.67 on Friday. Iris Energy Limited has a 12-month low of $2.79 and a 12-month high of $15.75. The firm’s 50-day simple moving average is $8.96 and its 200 day simple moving average is $9.14.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. B. Riley cut their target price on shares of Iris Energy from $17.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, September 13th. HC Wainwright reduced their target price on shares of Iris Energy from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Macquarie boosted their price target on Iris Energy from $12.00 to $13.50 and gave the company an “outperform” rating in a research note on Friday, August 30th. Needham & Company LLC began coverage on Iris Energy in a research report on Wednesday, September 4th. They issued a “hold” rating for the company. Finally, Roth Mkm began coverage on shares of Iris Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $14.00 target price on the stock. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $15.44.

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.