10,020 Shares in IREN Limited $IREN Bought by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC purchased a new stake in shares of IREN Limited (NASDAQ:IREN) during the second quarter, Holdings Channel reports. The fund purchased 10,020 shares of the company’s stock, valued at approximately $146,000.

Several other hedge funds have also recently made changes to their positions in IREN. Quarry LP acquired a new position in shares of IREN during the first quarter valued at about $40,000. Delta Financial Group Inc. purchased a new position in shares of IREN during the first quarter worth about $61,000. R Squared Ltd raised its position in shares of IREN by 170.1% during the 1st quarter. R Squared Ltd now owns 10,290 shares of the company’s stock valued at $63,000 after buying an additional 6,480 shares in the last quarter. US Bancorp DE purchased a new position in shares of IREN during the first quarter worth approximately $69,000. Finally, Wellington Management Group LLP increased its holdings in shares of IREN by 11.7% in the first quarter. Wellington Management Group LLP now owns 13,212 shares of the company’s stock worth $80,000 after buying an additional 1,387 shares during the period. 41.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Roth Capital set a $94.00 target price on IREN and gave the stock a “buy” rating in a research note on Monday, November 3rd. Arete Research began coverage on shares of IREN in a research note on Wednesday, September 24th. They issued a “buy” rating and a $78.00 price target on the stock. Compass Point reaffirmed a “buy” rating and set a $105.00 price objective on shares of IREN in a research note on Friday, November 7th. HC Wainwright upped their price target on shares of IREN from $45.00 to $56.00 and gave the stock a “sell” rating in a report on Tuesday, November 4th. Finally, Citigroup initiated coverage on IREN in a report on Wednesday. They issued an “outperform” rating for the company. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $69.36.

Insider Activity at IREN

In other IREN news, CEO Daniel John Roberts sold 1,000,000 shares of IREN stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $33.13, for a total value of $33,130,000.00. Following the transaction, the chief executive officer directly owned 13,989,696 shares in the company, valued at approximately $463,478,628.48. The trade was a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.02% of the company’s stock.

IREN Trading Down 2.8%

Shares of IREN stock opened at $42.26 on Friday. The firm’s 50-day moving average price is $53.96 and its 200 day moving average price is $29.00. The company has a current ratio of 5.52, a quick ratio of 5.52 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $11.98 billion, a PE ratio of 21.78 and a beta of 4.21. IREN Limited has a twelve month low of $5.13 and a twelve month high of $76.87.

IREN (NASDAQ:IREN) last issued its earnings results on Thursday, August 28th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $187.30 million during the quarter, compared to the consensus estimate of $187.51 million. IREN had a negative return on equity of 3.60% and a net margin of 86.96%. On average, sell-side analysts predict that IREN Limited will post 0.43 EPS for the current fiscal year.

IREN Company Profile

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.