Charles Schwab Investment Management Inc. Increases Stake in IREN Limited $IREN

Key Points

• Charles Schwab Investment Management Inc. increased its stake in IREN Limited by 13.8% during the first quarter, now holding 809,080 shares valued at approximately $4.93 million.
• Several large investors have also significantly increased their positions in IREN, with Two Sigma Investments LP raising their stake by 193.2% during the fourth quarter.
• IREN has received mixed analyst ratings, with one report upgrading it to a "hold" while others maintain a "buy" rating, setting an average price target of $20.89.

Charles Schwab Investment Management Inc. lifted its position in IREN Limited (NASDAQ:IREN - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 809,080 shares of the company's stock after buying an additional 98,190 shares during the period. Charles Schwab Investment Management Inc. owned about 0.43% of IREN worth $4,927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IREN. Two Sigma Investments LP lifted 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 buying an additional 1,056,005 shares in the last quarter. Regal Partners Ltd lifted its stake in shares of IREN by 93.9% in the fourth quarter. Regal Partners Ltd now owns 1,697,554 shares of the company's stock worth $16,670,000 after buying an additional 822,251 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of IREN in the fourth quarter worth approximately $7,162,000. Vident Advisory LLC lifted its position in IREN by 26.1% during the fourth quarter. Vident Advisory LLC now owns 2,937,918 shares of the company's stock valued at $28,850,000 after purchasing an additional 608,736 shares during the period. Finally, Two Seas Capital LP lifted its position in IREN by 212.7% during the fourth quarter. Two Seas Capital LP now owns 860,000 shares of the company's stock valued at $8,445,000 after purchasing an additional 585,000 shares during the period. Institutional investors own 41.08% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IREN. Canaccord Genuity Group increased their price objective on shares of IREN from $23.00 to $37.00 and gave the company a "buy" rating in a research report on Friday. JPMorgan Chase & Co. restated a "neutral" rating and set a $16.00 price objective (up previously from $12.00) on shares of IREN in a research report on Monday, July 28th. HC Wainwright increased their price objective on shares of IREN from $21.00 to $36.00 and gave the company a "buy" rating in a research report on Friday. B. Riley increased their price objective on shares of IREN from $22.00 to $29.00 and gave the company a "buy" rating in a research report on Friday. Finally, Roth Capital restated a "buy" rating on shares of IREN in a research report on Friday. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.88.

IREN Stock Performance

IREN stock traded up $3.44 during midday trading on Monday, reaching $26.48. 76,287,263 shares of the company's stock traded hands, compared to its average volume of 24,413,336. IREN Limited has a 52-week low of $5.13 and a 52-week high of $29.50. The stock has a market cap of $4.97 billion, a P/E ratio of 44.88 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 stock's 50-day moving average is $17.65 and its 200 day moving average is $11.28.

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.