X Square Capital LLC Makes New Investment in IREN Limited $IREN

X Square Capital LLC bought a new position in shares of IREN Limited (NASDAQ:IREN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 240,000 shares of the company’s stock, valued at approximately $9,065,000. IREN accounts for about 3.0% of X Square Capital LLC’s investment portfolio, making the stock its 5th largest holding.

A number of other institutional investors also recently bought and sold shares of IREN. Invesco Ltd. raised its stake in IREN by 45.9% during the second quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock worth $43,341,000 after purchasing an additional 936,333 shares during the period. StoneX Group Inc. purchased a new position in IREN during the second quarter worth about $158,000. NewEdge Advisors LLC raised its stake in IREN by 245.0% during the second quarter. NewEdge Advisors LLC now owns 43,281 shares of the company’s stock worth $631,000 after purchasing an additional 30,736 shares during the period. Sei Investments Co. purchased a new position in IREN during the second quarter worth about $2,333,000. Finally, Peapack Gladstone Financial Corp boosted its stake in IREN by 30.0% during the second quarter. Peapack Gladstone Financial Corp now owns 18,200 shares of the company’s stock worth $265,000 after buying an additional 4,200 shares during the period. 41.08% of the stock is owned by hedge funds and other institutional investors.

IREN Stock Performance

NASDAQ:IREN opened at $59.19 on Tuesday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72. The stock has a market capitalization of $21.15 billion, a P/E ratio of 123.31 and a beta of 4.22. The company has a 50 day moving average price of $50.25 and a 200 day moving average price of $46.67. IREN Limited has a fifty-two week low of $9.52 and a fifty-two week high of $76.87.

IREN (NASDAQ:IREN) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The company had revenue of $144.80 million for the quarter, compared to analysts’ expectations of $219.69 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%. Equities research analysts forecast that IREN Limited will post -1.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IREN shares. Weiss Ratings raised shares of IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. increased their price objective on shares of IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a research report on Monday, May 11th. Sanford C. Bernstein set a $96.00 price objective on shares of IREN in a research report on Thursday. Freedom Capital raised shares of IREN to a “hold” rating in a research report on Wednesday, April 1st. Finally, B. Riley Financial increased their price objective on shares of IREN from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Thirteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.62.

About IREN

IREN Limited, formerly known as Iris Energy Limited, owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.