AFG Fiduciary Services Limited Partnership Takes $254,000 Position in IREN Limited $IREN

Key Points

• AFG Fiduciary Services Limited Partnership has acquired a new stake in IREN Limited, purchasing 16,700 shares valued at approximately $254,000.
• IREN Limited recently reported an earnings per share (EPS) of $0.19 for the quarter, exceeding analysts' expectations, with revenue of $187.30 million.
• Several analysts have recently adjusted their price targets for IREN, with Cantor Fitzgerald raising it from $27.00 to $41.00 and providing an "overweight" rating.

AFG Fiduciary Services Limited Partnership bought a new stake in IREN Limited (NASDAQ:IREN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,700 shares of the company's stock, valued at approximately $254,000.

A number of other hedge funds have also bought and sold shares of IREN. Crewe Advisors LLC bought a new stake in shares of IREN in the first quarter valued at $39,000. Quarry LP purchased a new position in shares of IREN in the first quarter valued at $40,000. Delta Financial Group Inc. purchased a new position in IREN during the first quarter worth about $61,000. R Squared Ltd grew its position in IREN by 170.1% during the first quarter. R Squared Ltd now owns 10,290 shares of the company's stock worth $63,000 after buying an additional 6,480 shares in the last quarter. Finally, US Bancorp DE bought a new stake in IREN during the first quarter worth about $69,000. 41.08% of the stock is currently owned by institutional investors.

IREN Trading Up 6.4%

IREN opened at $38.64 on Friday. The firm has a market cap of $10.51 billion, a P/E ratio of 65.49 and a beta of 4.03. IREN Limited has a 12 month low of $5.13 and a 12 month high of $39.87. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average of $22.74 and a 200 day moving average of $13.51.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald boosted their target price on IREN from $27.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Jones Trading lowered IREN from a "buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Roth Capital restated a "buy" rating and issued a $35.00 price target on shares of IREN in a research note on Friday, August 29th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $16.00 target price (up from $12.00) on shares of IREN in a research note on Monday, July 28th. Finally, Canaccord Genuity Group increased their target price on IREN from $37.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.89.

Insider Activity

In related news, CEO Daniel John Roberts sold 1,000,000 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $33.13, for a total value 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. The trade was a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 21.55% of the stock is owned by company insiders.

IREN Company 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.

Want to see what other hedge funds are holding IREN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IREN Limited (NASDAQ:IREN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.