Vontobel Holding Ltd. Has $574,000 Stock Position in IREN Limited $IREN

Vontobel Holding Ltd. lessened its stake in IREN Limited (NASDAQ:IREN) by 48.3% during the second quarter, Holdings Channel reports. The firm owned 39,364 shares of the company’s stock after selling 36,716 shares during the period. Vontobel Holding Ltd.’s holdings in IREN were worth $574,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Aurelius Capital Management LP bought a new position in shares of IREN in the first quarter valued at approximately $311,000. Balefire LLC bought a new stake in shares of IREN in the 2nd quarter worth $1,214,000. Maridea Wealth Management LLC grew its stake in shares of IREN by 57.1% in the 1st quarter. Maridea Wealth Management LLC now owns 320,167 shares of the company’s stock worth $1,950,000 after acquiring an additional 116,408 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of IREN in the 2nd quarter worth $4,808,000. Finally, Farther Finance Advisors LLC grew its stake in shares of IREN by 59.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 25,038 shares of the company’s stock worth $365,000 after acquiring an additional 9,384 shares in the last quarter. Institutional investors own 41.08% of the company’s stock.

Insiders Place Their Bets

In other IREN news, CEO Daniel John Roberts sold 1,000,000 shares of the 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 completion of the transaction, the chief executive officer directly owned 13,989,696 shares of the company’s stock, valued at approximately $463,478,628.48. This represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Arete assumed coverage on shares of IREN in a research note on Wednesday, September 24th. They issued a “buy” rating and a $78.00 target price for the company. Canaccord Genuity Group upped their target price on shares of IREN from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Jones Trading downgraded IREN from a “buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Roth Capital reaffirmed a “buy” rating and set a $35.00 price target on shares of IREN in a research report on Friday, August 29th. Finally, Arete Research started coverage on IREN in a research report on Wednesday, September 24th. They set a “buy” rating and a $78.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, IREN has a consensus rating of “Moderate Buy” and a consensus price target of $47.73.

IREN Price Performance

Shares of NASDAQ IREN opened at $64.14 on Tuesday. The stock has a fifty day simple moving average of $33.71 and a two-hundred day simple moving average of $18.57. IREN Limited has a 1-year low of $5.13 and a 1-year high of $70.05. The firm has a market cap of $17.44 billion, a price-to-earnings ratio of 108.71 and a beta of 4.19. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 0.53.

IREN (NASDAQ:IREN) last announced its quarterly earnings data on Thursday, August 28th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. IREN had a return on equity of 1.34% and a net margin of 33.03%.The business had revenue of $187.30 million during the quarter, compared to analyst estimates of $187.51 million. Analysts anticipate that IREN Limited will post 0.43 earnings per share for the current 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.