IREN Limited $IREN Stock Holdings Increased by HighTower Advisors LLC

HighTower Advisors LLC raised its holdings in shares of IREN Limited (NASDAQ:IREN) by 64.5% during the 4th quarter, Holdings Channel reports. The fund owned 88,838 shares of the company’s stock after purchasing an additional 34,828 shares during the period. HighTower Advisors LLC’s holdings in IREN were worth $3,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Situational Awareness LP raised its stake in IREN by 90.1% during the 2nd quarter. Situational Awareness LP now owns 6,400,384 shares of the company’s stock valued at $93,254,000 after acquiring an additional 3,034,254 shares in the last quarter. Value Aligned Research Advisors LLC raised its stake in IREN by 18.6% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 3,873,337 shares of the company’s stock valued at $181,776,000 after acquiring an additional 607,189 shares in the last quarter. Invesco Ltd. raised its stake in IREN by 45.9% during the 2nd quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock valued at $43,341,000 after acquiring an additional 936,333 shares in the last quarter. UBS Group AG raised its stake in IREN by 37.3% during the 3rd quarter. UBS Group AG now owns 2,767,452 shares of the company’s stock valued at $129,877,000 after acquiring an additional 751,635 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in IREN by 247.7% during the 3rd quarter. Marshall Wace LLP now owns 2,032,397 shares of the company’s stock valued at $95,380,000 after acquiring an additional 1,447,842 shares in the last quarter. Institutional investors own 41.08% of the company’s stock.

IREN Stock Performance

Shares of NASDAQ IREN opened at $63.54 on Friday. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $22.71 billion, a price-to-earnings ratio of 132.38 and a beta of 4.17. The stock’s fifty day simple moving average is $47.70 and its 200 day simple moving average is $46.28. IREN Limited has a 52-week low of $8.28 and a 52-week high of $76.87.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IREN. Cantor Fitzgerald lifted their target price on IREN from $77.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday. The Goldman Sachs Group set a $50.00 price target on IREN in a research report on Wednesday. Weiss Ratings raised IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. Canaccord Genuity Group reissued a “buy” rating and issued a $70.00 price objective on shares of IREN in a research note on Tuesday, February 10th. Finally, HC Wainwright boosted their price objective on IREN to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Thirteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.69.

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.