83,323 Shares in IREN Limited $IREN Bought by Balefire LLC

Key Points

• Balefire LLC has purchased 83,323 shares of IREN Limited for about $1.2 million, contributing to significant interest from other institutional investors in the company.
• IREN Limited reported a quarterly EPS of $0.19, beating analysts' expectations, alongside revenues of $187.30 million.
• Shares of IREN have experienced a remarkable 186% year-to-date increase due to the company's pivot towards artificial intelligence initiatives.

Balefire LLC bought a new position in IREN Limited (NASDAQ:IREN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 83,323 shares of the company's stock, valued at approximately $1,214,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Situational Awareness LP acquired a new stake in shares of IREN in the 1st quarter valued at about $20,500,000. Vident Advisory LLC grew 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 buying an additional 18,794 shares in the last quarter. Two Sigma Investments LP raised its position in IREN by 193.2% in the 4th quarter. Two Sigma Investments LP now owns 1,602,642 shares of the company's stock valued at $15,738,000 after buying an additional 1,056,005 shares during the last quarter. Trexquant Investment LP lifted its stake in IREN by 158.6% in the 1st quarter. Trexquant Investment LP now owns 1,038,220 shares of the company's stock valued at $6,323,000 after acquiring an additional 636,767 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in IREN by 46.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,020,084 shares of the company's stock valued at $6,212,000 after acquiring an additional 325,327 shares in the last quarter. Institutional investors own 41.08% of the company's stock.

IREN Price Performance

Shares of NASDAQ IREN opened at $36.45 on Wednesday. The company has a market capitalization of $9.91 billion, a PE ratio of 61.78 and a beta of 4.03. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.53. The stock's 50 day moving average price is $21.49 and its 200-day moving average price is $12.93. IREN Limited has a twelve month low of $5.13 and a twelve month high of $37.67.

IREN (NASDAQ:IREN - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. The business had revenue of $187.30 million for the quarter, compared to analyst estimates of $187.51 million. IREN had a return on equity of 1.34% and a net margin of 33.03%. On average, equities analysts anticipate that IREN Limited will post 0.43 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Daniel John Roberts sold 1,000,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer owned 13,989,696 shares in the company, valued at approximately $463,478,628.48. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 21.55% of the company's stock.

Analyst Ratings Changes

IREN has been the subject of several research reports. Compass Point started coverage on shares of IREN in a research note on Monday. They set a "buy" rating for the company. Roth Capital restated a "buy" rating and set a $35.00 price objective on shares of IREN in a research note on Friday, August 29th. B. Riley upped their price target on shares of IREN from $22.00 to $29.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Jones Trading downgraded IREN from a "buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $16.00 target price (up previously from $12.00) on shares of IREN in a research report on Monday, July 28th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $30.89.

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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