Mandatum Life Insurance Co Ltd Invests $1.41 Million in IREN Limited $IREN

Mandatum Life Insurance Co Ltd bought a new position in shares of IREN Limited (NASDAQ:IREN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,990 shares of the company’s stock, valued at approximately $1,405,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its position in IREN by 10.1% during the 1st quarter. Sanctuary Advisors LLC now owns 50,889 shares of the company’s stock worth $1,744,000 after purchasing an additional 4,665 shares during the period. Sigma Planning Corp lifted its holdings in shares of IREN by 2.2% in the 1st quarter. Sigma Planning Corp now owns 37,979 shares of the company’s stock valued at $1,302,000 after buying an additional 807 shares during the period. Chicago Partners Investment Group LLC boosted its stake in shares of IREN by 40.3% in the first quarter. Chicago Partners Investment Group LLC now owns 106,904 shares of the company’s stock worth $3,665,000 after buying an additional 30,722 shares during the last quarter. Triglav Investments D.O.O. purchased a new stake in shares of IREN in the first quarter worth about $871,000. Finally, Global Assets Advisory LLC grew its holdings in IREN by 29.5% during the first quarter. Global Assets Advisory LLC now owns 14,079 shares of the company’s stock worth $483,000 after acquiring an additional 3,209 shares during the period. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Cantor Fitzgerald boosted their price target on IREN from $77.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Weiss Ratings lowered shares of IREN from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 7th. BTIG Research raised their price target on shares of IREN to $80.00 and gave the company a “buy” rating in a research report on Friday, May 8th. B. Riley Financial lifted their price objective on shares of IREN from $88.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Sanford C. Bernstein set a $96.00 price objective on shares of IREN in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.36.

IREN Price Performance

Shares of NASDAQ IREN opened at $38.59 on Wednesday. The firm has a market cap of $13.79 billion, a PE ratio of 80.40 and a beta of 4.27. The firm has a fifty day moving average of $53.69 and a 200 day moving average of $47.73. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72. IREN Limited has a one year low of $14.72 and a one year 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). IREN had a negative return on equity of 13.13% and a net margin of 20.90%.The company had revenue of $144.79 million for the quarter, compared to analyst estimates of $219.69 million. As a group, research analysts predict that IREN Limited will post -1.25 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.