Mandatum Life Insurance Co Ltd purchased a new position in IREN Limited (NASDAQ:IREN – Free Report) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 40,990 shares of the company’s stock, valued at approximately $1,405,000.
A number of other institutional investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC increased its position in shares of IREN by 10.1% during the first quarter. Sanctuary Advisors LLC now owns 50,889 shares of the company’s stock worth $1,744,000 after purchasing an additional 4,665 shares in the last quarter. Sigma Planning Corp lifted its holdings in IREN by 2.2% in the 1st quarter. Sigma Planning Corp now owns 37,979 shares of the company’s stock valued at $1,302,000 after purchasing an additional 807 shares in the last quarter. Chicago Partners Investment Group LLC boosted its stake in IREN by 40.3% during the 1st quarter. Chicago Partners Investment Group LLC now owns 106,904 shares of the company’s stock worth $3,665,000 after purchasing an additional 30,722 shares during the last quarter. Triglav Investments D.O.O. acquired a new stake in IREN during the 1st quarter worth $871,000. Finally, Global Assets Advisory LLC grew its holdings in shares of IREN by 29.5% during the first quarter. Global Assets Advisory LLC now owns 14,079 shares of the company’s stock worth $483,000 after buying an additional 3,209 shares in the last quarter. 41.08% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group set a $50.00 price target on shares of IREN in a research note on Wednesday, May 27th. BTIG Research upped their price objective on shares of IREN to $80.00 and gave the company a “buy” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. increased their price objective on shares of IREN from $39.00 to $46.00 and gave the company an “underweight” rating in a report on Monday, May 11th. Jefferies Financial Group initiated coverage on IREN in a report on Thursday, June 18th. They set a “buy” rating and a $79.00 target price on the stock. Finally, Weiss Ratings lowered IREN from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.36.
IREN Stock Down 1.0%
Shares of NASDAQ IREN opened at $38.59 on Wednesday. The company has a 50 day simple moving average of $53.69 and a 200-day simple moving average of $47.73. The company has a market capitalization of $13.79 billion, a P/E ratio of 80.40 and a beta of 4.27. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72. IREN Limited has a 1 year low of $14.72 and a 1 year high of $76.87.
IREN (NASDAQ:IREN – Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). IREN had a net margin of 20.90% and a negative return on equity of 13.13%. The business had revenue of $144.79 million during the quarter, compared to analyst estimates of $219.69 million. On average, equities research analysts predict that IREN Limited will post -1.25 earnings per share for the current year.
About IREN
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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