Castleview Partners LLC Takes Position in IREN Limited $IREN

Key Points

• Castleview Partners LLC acquired 13,530 shares of IREN Limited valued at approximately $197,000 during the 2nd quarter, indicating growing institutional interest in the company.
• IREN Limited's CEO, Daniel John Roberts, sold 1,000,000 shares for about $33.13 million, resulting in a 6.67% decrease in his shareholding.
• IREN has shown a strong performance this year, with its stock up 186% year-to-date and a current market cap of $12.59 billion.

Castleview Partners LLC purchased a new position in shares of IREN Limited (NASDAQ:IREN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 13,530 shares of the company's stock, valued at approximately $197,000.

A number of other large investors also recently modified their holdings of IREN. Crewe Advisors LLC bought a new stake in shares of IREN during the 1st quarter worth approximately $39,000. Quarry LP bought a new position in shares of IREN in the first quarter valued at $40,000. Delta Financial Group Inc. acquired a new position in IREN during the first quarter worth $61,000. R Squared Ltd raised 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 acquiring an additional 6,480 shares in the last quarter. Finally, US Bancorp DE bought a new stake in IREN during the first quarter worth $69,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other IREN news, CEO Daniel John Roberts sold 1,000,000 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 13,989,696 shares of the company's stock, valued at $463,478,628.48. This represents a 6.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 21.55% of the company's stock.

IREN Stock Performance

IREN opened at $46.29 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 4.29 and a current ratio of 4.29. IREN Limited has a 52-week low of $5.13 and a 52-week high of $49.39. The firm has a market cap of $12.59 billion, a P/E ratio of 78.46 and a beta of 4.03. The business's fifty day moving average is $24.90 and its 200-day moving average is $14.53.

IREN (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings results on Thursday, August 28th. The company reported $0.19 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $187.51 million. Sell-side analysts expect that IREN Limited will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IREN has been the topic of a number of research analyst reports. BTIG Research upped their target price on shares of IREN from $22.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, September 9th. Cantor Fitzgerald boosted their price target on IREN from $27.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. B. Riley raised their price objective on IREN from $22.00 to $29.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Wall Street Zen upgraded IREN from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, 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. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.42.

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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