CW Advisors LLC Makes New Investment in IREN Limited $IREN

Key Points

• CW Advisors LLC has made a new investment in IREN Limited, acquiring 20,000 shares valued at approximately $122,000 in the first quarter.
• Multiple institutional investors have also increased their stakes in IREN, contributing to a total institutional ownership of 41.08% of the company's stock.
• Wall Street analysts have set a consensus price target of $29.88 for IREN, with several analysts issuing "buy" and "outperform" ratings.

CW Advisors LLC bought a new position in IREN Limited (NASDAQ:IREN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,000 shares of the company's stock, valued at approximately $122,000.

Several other institutional investors have also bought and sold shares of IREN. Wellington Management Group LLP grew its position in IREN by 11.7% in the first quarter. Wellington Management Group LLP now owns 13,212 shares of the company's stock valued at $80,000 after acquiring an additional 1,387 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of IREN in the 1st quarter valued at $169,000. Mizuho Markets Americas LLC grew its holdings in shares of IREN by 1,832.5% in the 1st quarter. Mizuho Markets Americas LLC now owns 502,459 shares of the company's stock worth $3,060,000 after purchasing an additional 476,459 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of IREN by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,268 shares of the company's stock worth $123,000 after purchasing an additional 2,035 shares in the last quarter. Finally, CenterBook Partners LP increased its position in shares of IREN by 34.8% during the 1st quarter. CenterBook Partners LP now owns 178,684 shares of the company's stock worth $1,088,000 after purchasing an additional 46,116 shares in the last quarter. Institutional investors and hedge funds own 41.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on IREN shares. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $16.00 price objective (up from $12.00) on shares of IREN in a research note on Monday, July 28th. Macquarie increased their price target on IREN from $20.00 to $33.00 and gave the stock an "outperform" rating in a research report on Friday. Wall Street Zen raised IREN from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. B. Riley lifted their price objective on IREN from $22.00 to $29.00 and gave the company a "buy" rating in a research report on Friday. Finally, HC Wainwright increased their target price on IREN from $21.00 to $36.00 and gave the stock a "buy" rating in a report on Friday. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, IREN currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.88.

IREN Trading Up 14.9%

Shares of NASDAQ IREN opened at $26.48 on Friday. IREN Limited has a 1 year low of $5.13 and a 1 year high of $29.50. The firm's 50-day moving average is $17.65 and its 200-day moving average is $11.31. The firm has a market capitalization of $4.97 billion, a PE ratio of 44.88 and a beta of 3.98.

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.

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