Baader Bank Aktiengesellschaft Acquires Shares of 330,000 IREN Limited $IREN

Key Points

• Baader Bank Aktiengesellschaft acquired a new stake in IREN Limited, purchasing 330,000 shares valued at approximately $4.8 million, representing about 0.18% ownership of the company.
• IREN Limited's stock has seen significant growth, being up 186% YTD, largely attributed to a shift toward AI capabilities.
• Analysts are optimistic about IREN, with multiple brokerages raising their target prices, the highest now being $42.00, and an average rating of "Moderate Buy."

Baader Bank Aktiengesellschaft purchased a new position in shares of IREN Limited (NASDAQ:IREN - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 330,000 shares of the company's stock, valued at approximately $4,808,000. Baader Bank Aktiengesellschaft owned approximately 0.18% of IREN as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Situational Awareness LP bought a new stake in shares of IREN in the first quarter worth $20,500,000. Two Sigma Investments LP grew its stake in shares of IREN by 193.2% in the fourth quarter. Two Sigma Investments LP now owns 1,602,642 shares of the company's stock worth $15,738,000 after purchasing an additional 1,056,005 shares during the last quarter. Trexquant Investment LP grew its stake in shares of IREN by 158.6% in the first quarter. Trexquant Investment LP now owns 1,038,220 shares of the company's stock worth $6,323,000 after purchasing an additional 636,767 shares during the last quarter. Two Seas Capital LP grew its stake in shares of IREN by 212.7% in the fourth quarter. Two Seas Capital LP now owns 860,000 shares of the company's stock worth $8,445,000 after purchasing an additional 585,000 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of IREN by 4,075.5% in the first 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. 41.08% of the stock is currently owned by institutional investors and hedge funds.

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 value of $33,130,000.00. Following the transaction, the chief executive officer owned 13,989,696 shares of the company's stock, valued at approximately $463,478,628.48. This trade represents a 6.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.55% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on IREN. HC Wainwright boosted their price objective on shares of IREN from $21.00 to $36.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. BTIG Research boosted their price objective on shares of IREN from $22.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, September 9th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $16.00 price objective (up previously from $12.00) on shares of IREN in a research note on Monday, July 28th. Canaccord Genuity Group boosted their price objective on shares of IREN from $37.00 to $42.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. Finally, B. Riley boosted their price objective on shares of IREN from $22.00 to $29.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $30.89.

IREN Stock Up 6.4%

NASDAQ IREN traded up $2.32 during trading hours on Friday, hitting $38.64. The company's stock had a trading volume of 36,625,936 shares, compared to its average volume of 32,692,740. IREN Limited has a 52 week low of $5.13 and a 52 week high of $39.87. The company has a market capitalization of $10.51 billion, a PE ratio of 65.49 and a beta of 4.03. 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 company's 50-day simple moving average is $22.74 and its two-hundred day simple moving average is $13.55.

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

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.