Amundi Purchases 823,803 Shares of IREN Limited $IREN

Key Points

• Amundi increased its IREN position by 3,865.8% in the first quarter, acquiring 823,803 additional shares for a total of 845,113 shares valued at approximately $28.97 million.
• Other institutional investors also expanded their holdings, and institutions now own 41.08% of IREN. Analysts maintain a “Moderate Buy” consensus with an average price target of $82.71.
• IREN recently traded at $39.75, while its latest quarter showed a loss of $0.25 per share and revenue of $144.79 million, both missing analyst expectations.

Amundi grew its position in IREN Limited (NASDAQ:IREN - Free Report) by 3,865.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 845,113 shares of the company's stock after acquiring an additional 823,803 shares during the quarter. Amundi owned about 0.24% of IREN worth $28,970,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. raised its holdings in shares of IREN by 45.9% in the second quarter. Invesco Ltd. now owns 2,974,674 shares of the company's stock worth $43,341,000 after buying an additional 936,333 shares during the period. StoneX Group Inc. bought a new position in shares of IREN during the 2nd quarter worth approximately $158,000. NewEdge Advisors LLC lifted its position in IREN by 245.0% during the second quarter. NewEdge Advisors LLC now owns 43,281 shares of the company's stock valued at $631,000 after acquiring an additional 30,736 shares during the last quarter. Sei Investments Co. acquired a new stake in IREN in the second quarter valued at approximately $2,333,000. Finally, Peapack Gladstone Financial Corp grew its holdings in IREN by 30.0% in the second quarter. Peapack Gladstone Financial Corp now owns 18,200 shares of the company's stock worth $265,000 after purchasing an additional 4,200 shares during the last quarter. Institutional investors own 41.08% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IREN. Cantor Fitzgerald upped their price target on IREN from $77.00 to $99.00 and gave the stock an "overweight" rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. raised their price objective on IREN from $39.00 to $46.00 and gave the stock an "underweight" rating in a research report on Monday, May 11th. The Goldman Sachs Group restated a "neutral" rating on shares of IREN in a research note on Monday, July 20th. BTIG Research upped their target price on IREN to $80.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Finally, Sanford C. Bernstein set a $96.00 price target on IREN in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $82.71.

IREN Trading Up 8.0%

NASDAQ:IREN opened at $39.75 on Tuesday. IREN Limited has a 12 month low of $15.49 and a 12 month high of $76.87. The firm has a fifty day simple moving average of $48.52 and a 200-day simple moving average of $47.10. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $14.21 billion, a P/E ratio of 82.81 and a beta of 4.29.

IREN (NASDAQ:IREN - Get Free Report) last released its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The firm had revenue of $144.79 million during the quarter, compared to analyst estimates of $219.69 million. IREN had a net margin of 20.90% and a negative return on equity of 13.13%. On average, equities research analysts anticipate that IREN Limited will post -1.96 earnings per share for the current year.

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.

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