Alpine Fox Capital LLC Acquires New Holdings in IREN Limited $IREN

Key Points

• Alpine Fox Capital LLC bought 750,461 shares of IREN (~$35.22 million) in the 3rd quarter, making the stake roughly 14.7% of Alpine Fox’s portfolio and the firm's third-largest holding; Alpine Fox owned about 0.26% of IREN at quarter-end.
• IREN, a bitcoin-mining data center operator, reported a significant quarterly EPS miss (‑$0.44 vs. ‑$0.07 expected) and revenue of $184.7M (down 23.1% YoY vs. $229.6M expected), yet analysts maintain a consensus "Moderate Buy" with an average price target of $71.69 (13 Buys, 4 Holds, 1 Sell).

Alpine Fox Capital LLC bought a new position in IREN Limited (NASDAQ:IREN - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 750,461 shares of the company's stock, valued at approximately $35,219,000. IREN comprises approximately 14.7% of Alpine Fox Capital LLC's investment portfolio, making the stock its 3rd biggest position. Alpine Fox Capital LLC owned 0.26% of IREN at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IREN. Global Retirement Partners LLC purchased a new stake in IREN during the 3rd quarter valued at $25,000. Allianz SE bought a new position in shares of IREN during the 3rd quarter valued at $57,000. Sherman Asset Management Inc. purchased a new position in shares of IREN in the 3rd quarter worth $59,000. Advisors Asset Management Inc. boosted its stake in shares of IREN by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,528 shares of the company's stock worth $66,000 after buying an additional 1,839 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in shares of IREN in the third quarter worth $67,000. Hedge funds and other institutional investors own 41.08% of the company's stock.

Analyst Upgrades and Downgrades

IREN has been the subject of a number of research reports. Weiss Ratings upgraded IREN from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, March 9th. Citigroup assumed coverage on IREN in a research note on Wednesday, November 19th. They set an "outperform" rating for the company. Wall Street Zen lowered shares of IREN from a "hold" rating to a "strong sell" rating in a research report on Saturday, February 7th. Citizens Jmp set a $80.00 price objective on shares of IREN in a research note on Wednesday, November 19th. Finally, Zacks Research raised shares of IREN from a "strong sell" rating to a "hold" rating in a report on Tuesday, December 16th. Thirteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, IREN currently has a consensus rating of "Moderate Buy" and an average price target of $71.69.

IREN Stock Performance

Shares of NASDAQ IREN opened at $41.58 on Friday. The firm has a fifty day moving average price of $46.70 and a 200-day moving average price of $46.65. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.96 and a quick ratio of 4.96. The stock has a market cap of $13.82 billion, a PE ratio of 31.26 and a beta of 4.31. IREN Limited has a 1 year low of $5.13 and a 1 year high of $76.87.

IREN (NASDAQ:IREN - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.37). The firm had revenue of $184.69 million for the quarter, compared to analysts' expectations of $229.64 million. IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The business's revenue for the quarter was down 23.1% on a year-over-year basis. Equities analysts anticipate 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.

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