Clearline Capital LP Acquires Shares of 29,286 IREN Limited $IREN

Key Points

• Clearline Capital LP has acquired 29,286 shares of IREN Limited, valued at approximately $178,000, during the first quarter.
• Analysts have a generally positive outlook on IREN, with eight giving it a Buy rating and price targets ranging from $16.00 to $36.00.
• IREN recently reported earnings of $0.19 per share, exceeding expectations, with a revenue of $187.30 million for the quarter.

Clearline Capital LP bought a new stake in shares of IREN Limited (NASDAQ:IREN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 29,286 shares of the company's stock, valued at approximately $178,000.

Other institutional investors also recently bought and sold shares of the company. Main Management LLC acquired a new stake in shares of IREN during the fourth quarter worth about $49,000. Crewe Advisors LLC purchased a new stake in IREN during the 1st quarter worth approximately $39,000. Quarry LP acquired a new stake in IREN during the 1st quarter worth approximately $40,000. Tower Research Capital LLC TRC boosted its position in IREN by 1,059.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company's stock valued at $82,000 after buying an additional 7,646 shares during the period. Finally, Delta Financial Group Inc. purchased a new position in IREN in the 1st quarter valued at approximately $61,000. 41.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wall Street Zen upgraded IREN from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Canaccord Genuity Group upped their price target on IREN from $23.00 to $37.00 and gave the stock a "buy" rating in a report on Friday, August 29th. BTIG Research increased their price target on IREN from $22.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday. Cantor Fitzgerald boosted their price objective on IREN from $27.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. Finally, Roth Capital restated a "buy" rating and set a $35.00 target price on shares of IREN in a research note on Friday, August 29th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.33.

IREN Stock Up 11.4%

IREN stock traded up $3.44 during mid-day trading on Wednesday, hitting $33.63. The company had a trading volume of 43,560,001 shares, compared to its average volume of 29,369,862. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.53. IREN Limited has a 1 year low of $5.13 and a 1 year high of $33.64. The business has a fifty day moving average of $20.04 and a 200 day moving average of $12.17. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of 503.17 and a beta of 4.03.

IREN (NASDAQ:IREN - Get Free Report) last issued its earnings results on Thursday, August 28th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $187.30 million during the quarter, compared to analysts' expectations of $187.51 million. IREN had a net margin of 33.03% and a return on equity of 1.34%. On average, sell-side analysts expect that IREN Limited will post 0.43 earnings per share for the current fiscal 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.