Harvest Portfolios Group Inc. Increases Position in IREN Limited $IREN

Harvest Portfolios Group Inc. raised its holdings in IREN Limited (NASDAQ:IREN) by 122.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,382 shares of the company’s stock after buying an additional 56,366 shares during the period. Harvest Portfolios Group Inc. owned about 0.05% of IREN worth $1,492,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new position in shares of IREN in the 1st quarter valued at about $40,000. Delta Financial Group Inc. purchased a new stake in IREN during the first quarter worth approximately $61,000. SLT Holdings LLC acquired a new position in IREN in the second quarter valued at approximately $146,000. R Squared Ltd boosted its holdings in IREN by 170.1% in 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 in the last quarter. Finally, US Bancorp DE purchased a new position in IREN in the first quarter valued at approximately $69,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Daniel John Roberts sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $33.13, for a total value of $33,130,000.00. Following the transaction, the chief executive officer owned 13,989,696 shares of the company’s stock, 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 is accessible through this hyperlink. Insiders own 5.02% of the company’s stock.

IREN Price Performance

Shares of NASDAQ:IREN opened at $62.38 on Friday. IREN Limited has a one year low of $5.13 and a one year high of $76.87. The stock has a market capitalization of $16.97 billion, a price-to-earnings ratio of 32.15 and a beta of 4.21. The company has a 50-day simple moving average of $49.90 and a 200-day simple moving average of $25.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 4.29 and a current ratio of 4.29.

IREN (NASDAQ:IREN) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.48). The company had revenue of $240.30 million for the quarter, compared to analysts’ expectations of $244.60 million. IREN had a negative return on equity of 4.42% and a net margin of 86.96%.IREN’s quarterly revenue was up 28.3% compared to the same quarter last year. On average, analysts predict that IREN Limited will post 0.43 EPS for the current year.

Analysts Set New Price Targets

IREN has been the topic of several research analyst reports. Wall Street Zen upgraded shares of IREN from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Arete started coverage on IREN in a research report on Wednesday, September 24th. They set a “buy” rating and a $78.00 target price on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of IREN in a report on Wednesday, October 8th. UBS Group reissued a “buy” rating on shares of IREN in a research report on Friday. Finally, Roth Capital set a $94.00 price target on IREN and gave the stock a “buy” rating in a research note on Monday. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $65.25.

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.