SBI Securities Co. Ltd. Decreases Holdings in IREN Limited $IREN

SBI Securities Co. Ltd. reduced its holdings in shares of IREN Limited (NASDAQ:IREN) by 22.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,990 shares of the company’s stock after selling 15,659 shares during the period. SBI Securities Co. Ltd.’s holdings in IREN were worth $787,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IREN. Situational Awareness LP purchased a new stake in shares of IREN in the 1st quarter valued at $20,500,000. Vident Advisory LLC boosted its holdings in shares of IREN by 0.6% during the first quarter. Vident Advisory LLC now owns 2,956,712 shares of the company’s stock worth $18,006,000 after purchasing an additional 18,794 shares during the period. Trexquant Investment LP raised its position in IREN by 158.6% during the 1st quarter. Trexquant Investment LP now owns 1,038,220 shares of the company’s stock valued at $6,323,000 after purchasing an additional 636,767 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in IREN by 14.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 987,466 shares of the company’s stock valued at $6,014,000 after purchasing an additional 122,668 shares during the last quarter. Finally, Regal Partners Ltd lifted its holdings in IREN by 42.0% in the 2nd quarter. Regal Partners Ltd now owns 820,308 shares of the company’s stock worth $11,952,000 after buying an additional 242,602 shares during the period. 41.08% of the stock is owned by hedge funds and other institutional investors.

IREN Trading Down 12.7%

Shares of IREN stock opened at $48.65 on Friday. IREN Limited has a 1-year low of $5.13 and a 1-year high of $76.87. The company’s fifty day simple moving average is $52.14 and its 200-day simple moving average is $27.36. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.52 and a quick ratio of 5.52. The stock has a market capitalization of $13.23 billion, a PE ratio of 25.08 and a beta of 4.21.

IREN (NASDAQ:IREN) last posted its quarterly earnings data on Thursday, August 28th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. IREN had a negative return on equity of 3.60% and a net margin of 86.96%.The firm had revenue of $187.30 million during the quarter, compared to analyst estimates of $187.51 million. As a group, equities analysts anticipate that IREN Limited will post 0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on IREN shares. Canaccord Genuity Group upped their price objective on shares of IREN from $42.00 to $70.00 and gave the stock a “buy” rating in a report on Monday. HC Wainwright lifted their price objective on IREN from $45.00 to $56.00 and gave the company a “sell” rating in a research note on Tuesday, November 4th. Arete Research began coverage on shares of IREN in a research report on Wednesday, September 24th. They set a “buy” rating and a $78.00 price target for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IREN in a research report on Wednesday, October 8th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $75.00 price objective on shares of IREN in a report on Thursday, September 25th. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, IREN currently has an average rating of “Hold” and an average target price of $67.58.

Insider Activity

In related news, CEO Daniel John Roberts sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $33.13, for a total value of $33,130,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.02% of the company’s stock.

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.