5,094,572 Shares in IREN Limited $IREN Acquired by Hood River Capital Management LLC

Key Points

• Hood River Capital Management bought a new stake of 5,094,572 IREN shares valued at about $74.23 million, representing roughly 2.71% ownership per its SEC filing.
• IREN CEO Daniel John Roberts sold 1,000,000 shares at an average of $33.13 for $33.13 million, reducing his position by 6.67%; company insiders now own about 5.02% of the stock.
• IREN, a bitcoin‑mining data center operator, has a consensus analyst rating of “Moderate Buy” with a $69.85 average target (12 Buys / 3 Holds / 3 Sells) and a market cap near $12.7 billion.

Hood River Capital Management LLC bought a new stake in shares of IREN Limited (NASDAQ:IREN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,094,572 shares of the company's stock, valued at approximately $74,228,000. Hood River Capital Management LLC owned approximately 2.71% of IREN as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new position in shares of IREN during the second quarter valued at approximately $6,877,000. Aurelius Capital Management LP purchased a new stake in IREN during the first quarter worth $311,000. X Square Capital LLC boosted its position in IREN by 129.9% during the 2nd quarter. X Square Capital LLC now owns 435,951 shares of the company's stock valued at $6,352,000 after acquiring an additional 246,333 shares in the last quarter. Balefire LLC purchased a new position in shares of IREN in the 2nd quarter valued at $1,214,000. Finally, Hartline Investment Corp purchased a new stake in shares of IREN during the 2nd quarter worth $228,000. Institutional investors own 41.08% of the company's stock.

IREN Trading Down 3.7%

NASDAQ:IREN opened at $44.71 on Monday. The firm has a fifty day simple moving average of $55.17 and a 200-day simple moving average of $32.03. The company has a current ratio of 5.52, a quick ratio of 5.52 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $12.67 billion, a P/E ratio of 23.05 and a beta of 4.23. IREN Limited has a 12 month low of $5.13 and a 12 month high of $76.87.

Insiders Place Their Bets

In other IREN news, CEO Daniel John Roberts sold 1,000,000 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $33.13, for a total transaction of $33,130,000.00. Following the completion of the transaction, the chief executive officer directly owned 13,989,696 shares of the company's stock, valued at approximately $463,478,628.48. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.02% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. B. Riley reiterated a "buy" rating on shares of IREN in a research note on Wednesday, October 22nd. Jones Trading cut shares of IREN from a "buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Weiss Ratings reiterated a "hold (c)" rating on shares of IREN in a research note on Monday, December 1st. BTIG Research raised their target price on shares of IREN from $32.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, October 14th. Finally, JMP Securities set a $80.00 price objective on IREN in a report on Wednesday, November 19th. Twelve analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.85.

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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