SLT Holdings LLC Purchases New Holdings in IREN Limited $IREN

SLT Holdings LLC purchased a new stake in shares of IREN Limited (NASDAQ:IREN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $146,000.

Other large investors have also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new position in IREN during the first quarter valued at approximately $39,000. Quarry LP acquired a new position in IREN during the first quarter valued at approximately $40,000. Delta Financial Group Inc. acquired a new position in IREN during the first quarter valued at approximately $61,000. R Squared Ltd boosted its position in IREN by 170.1% during the first quarter. R Squared Ltd now owns 10,290 shares of the company’s stock valued at $63,000 after purchasing an additional 6,480 shares during the last quarter. Finally, US Bancorp DE acquired a new position in IREN during the first quarter valued at approximately $69,000. 41.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on IREN. HC Wainwright raised their price objective on IREN from $21.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Arete Research began coverage on IREN in a research report on Wednesday, September 24th. They issued a “buy” rating and a $78.00 price objective for the company. B. Riley raised their price objective on IREN from $22.00 to $29.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Jones Trading cut IREN from a “buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IREN in a research report on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.73.

Insider Buying and Selling

In other IREN news, CEO Daniel John Roberts sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $33.13, for a total transaction of $33,130,000.00. Following the transaction, the chief executive officer owned 13,989,696 shares in the company, valued at $463,478,628.48. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.55% of the stock is currently owned by company insiders.

IREN Price Performance

IREN stock opened at $59.77 on Friday. The stock’s fifty day moving average price is $32.75 and its two-hundred day moving average price is $18.00. IREN Limited has a one year low of $5.13 and a one year high of $70.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.29 and a quick ratio of 4.29. The firm has a market cap of $16.26 billion, a PE ratio of 101.31 and a beta of 4.19.

IREN (NASDAQ:IREN) last posted its quarterly earnings data on Thursday, August 28th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. IREN had a return on equity of 1.34% and a net margin of 33.03%.The firm had revenue of $187.30 million for the quarter, compared to analyst estimates of $187.51 million. As a group, research analysts expect that IREN Limited will post 0.43 EPS for the current fiscal year.

IREN 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.