Avaii Wealth Management LLC Has $380,000 Stock Holdings in Iris Energy Limited (NASDAQ:IREN)

Avaii Wealth Management LLC lowered its stake in shares of Iris Energy Limited (NASDAQ:IREN) by 8.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,674 shares of the company’s stock after selling 3,593 shares during the period. Avaii Wealth Management LLC’s holdings in Iris Energy were worth $380,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. AFG Fiduciary Services Limited Partnership purchased a new stake in shares of Iris Energy during the third quarter worth $77,000. Covestor Ltd purchased a new stake in shares of Iris Energy during the 3rd quarter worth about $87,000. Sippican Capital Advisors purchased a new stake in shares of Iris Energy during the 3rd quarter worth about $94,000. Bluefin Capital Management LLC acquired a new stake in shares of Iris Energy during the 2nd quarter valued at about $113,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in shares of Iris Energy in the 2nd quarter valued at approximately $149,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

Iris Energy Stock Performance

Shares of NASDAQ:IREN opened at $13.32 on Friday. The business has a 50 day moving average price of $11.80 and a 200 day moving average price of $9.94. Iris Energy Limited has a twelve month low of $3.56 and a twelve month high of $15.92.

Iris Energy (NASDAQ:IREN) last posted its quarterly earnings data on Tuesday, November 26th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.11). Iris Energy had a negative net margin of 36.10% and a negative return on equity of 8.01%. Research analysts forecast that Iris Energy Limited will post 0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Iris Energy in a research report on Wednesday, November 27th. HC Wainwright raised their price target on shares of Iris Energy from $13.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Roth Capital upgraded shares of Iris Energy to a “strong-buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. restated a “neutral” rating and set a $15.00 target price (up from $9.50) on shares of Iris Energy in a report on Tuesday, December 10th. Finally, Macquarie upped their price target on Iris Energy from $13.50 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Iris Energy presently has a consensus rating of “Moderate Buy” and an average target price of $19.50.

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.