Aurelius Capital Management LP Makes New $311,000 Investment in IREN Limited $IREN

Key Points

• Aurelius Capital Management LP has acquired a new stake in IREN Limited, purchasing 51,124 shares valued at around $311,000, making it the fund's 5th largest holding at approximately 3.3% of its portfolio.
• IREN Limited's stock has seen significant investor interest, with several large institutions adjusting their positions, resulting in 41.08% of the stock being owned by institutional investors.
• Analyst ratings for IREN include multiple "buy" recommendations, with a consensus price target of $20.89, reflecting strong bullish sentiment on the stock's future performance.

Aurelius Capital Management LP bought a new position in IREN Limited (NASDAQ:IREN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 51,124 shares of the company's stock, valued at approximately $311,000. IREN accounts for about 3.3% of Aurelius Capital Management LP's portfolio, making the stock its 5th biggest position.

Other institutional investors have also recently bought and sold shares of the company. Maridea Wealth Management LLC raised its holdings in IREN by 57.1% in the 1st quarter. Maridea Wealth Management LLC now owns 320,167 shares of the company's stock worth $1,950,000 after acquiring an additional 116,408 shares during the period. Fox Run Management L.L.C. bought a new position in IREN in the 1st quarter worth $169,000. JPMorgan Chase & Co. acquired a new stake in IREN in the 4th quarter worth $587,000. Private Advisor Group LLC grew its position in IREN by 4,075.5% in the 1st quarter. Private Advisor Group LLC now owns 508,118 shares of the company's stock worth $3,094,000 after purchasing an additional 495,949 shares during the last quarter. Finally, Evolution Wealth Advisors LLC grew its position in IREN by 61.3% in the 1st quarter. Evolution Wealth Advisors LLC now owns 77,220 shares of the company's stock worth $470,000 after purchasing an additional 29,340 shares during the last quarter. Institutional investors own 41.08% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. restated a "neutral" rating and issued a $16.00 price target (up from $12.00) on shares of IREN in a research report on Monday, July 28th. B. Riley reiterated a "buy" rating and set a $22.00 target price (up from $15.00) on shares of IREN in a research report on Thursday, July 10th. HC Wainwright decreased their target price on shares of IREN from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. Macquarie boosted their price target on shares of IREN from $15.50 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, Wall Street Zen upgraded shares of IREN from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.89.

IREN Price Performance

NASDAQ:IREN traded down $0.64 on Wednesday, reaching $22.35. The stock had a trading volume of 15,816,178 shares, compared to its average volume of 18,994,723. IREN Limited has a 1-year low of $5.13 and a 1-year high of $23.38. The stock has a fifty day moving average price of $16.81 and a 200-day moving average price of $11.06.

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.