Caitong International Asset Management Co. Ltd raised its stake in IREN Limited (NASDAQ:IREN – Free Report) by 134,143.3% during the 4th quarter, HoldingsChannel reports. The firm owned 251,035 shares of the company’s stock after acquiring an additional 250,848 shares during the quarter. IREN accounts for about 2.3% of Caitong International Asset Management Co. Ltd’s portfolio, making the stock its 7th largest position. Caitong International Asset Management Co. Ltd’s holdings in IREN were worth $9,482,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. lifted its position in IREN by 257.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 26,958 shares of the company’s stock worth $1,018,000 after acquiring an additional 19,423 shares in the last quarter. Sanctuary Advisors LLC grew its position in IREN by 282.2% in the fourth quarter. Sanctuary Advisors LLC now owns 46,224 shares of the company’s stock valued at $1,746,000 after acquiring an additional 34,129 shares in the last quarter. Avaii Wealth Management LLC grew its position in IREN by 208.9% in the fourth quarter. Avaii Wealth Management LLC now owns 145,767 shares of the company’s stock valued at $5,506,000 after acquiring an additional 98,581 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of IREN by 12.7% during the third quarter. Private Advisor Group LLC now owns 781,666 shares of the company’s stock valued at $36,684,000 after purchasing an additional 88,081 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of IREN during the fourth quarter valued at approximately $939,000. Institutional investors and hedge funds own 41.08% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on IREN shares. Cantor Fitzgerald boosted their target price on shares of IREN from $77.00 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. The Goldman Sachs Group set a $50.00 price objective on shares of IREN in a report on Wednesday, May 27th. Sanford C. Bernstein set a $96.00 target price on IREN in a research note on Thursday, June 4th. B. Riley Financial lifted their target price on IREN from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings raised IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. Fourteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.36.
IREN Price Performance
Shares of NASDAQ:IREN opened at $59.96 on Friday. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44. The company has a fifty day simple moving average of $54.40 and a 200 day simple moving average of $47.38. The firm has a market cap of $21.43 billion, a PE ratio of 124.92 and a beta of 4.22. IREN Limited has a 12-month low of $9.82 and a 12-month high of $76.87.
IREN (NASDAQ:IREN – Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). IREN had a net margin of 20.90% and a negative return on equity of 13.13%. The company had revenue of $144.79 million during the quarter, compared to analyst estimates of $219.69 million. On average, equities research analysts anticipate that IREN Limited will post -1.25 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.
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