Evolution Wealth Advisors LLC Has $470,000 Stock Holdings in IREN Limited (NASDAQ:IREN)

Key Points

• Evolution Wealth Advisors LLC increased its stake in IREN Limited by 61.3%, now holding 77,220 shares valued at $470,000 as of the latest quarter.
• Several institutional investors, including Crewe Advisors LLC and US Bancorp DE, have recently established new positions in IREN, indicating significant interest in the company.
• Wall Street analysts have a generally positive outlook on IREN's stock, with an average target price of $20.89 and various ratings ranging from "hold" to "strong buy."

Evolution Wealth Advisors LLC raised its stake in IREN Limited (NASDAQ:IREN - Free Report) by 61.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,220 shares of the company's stock after acquiring an additional 29,340 shares during the period. Evolution Wealth Advisors LLC's holdings in IREN were worth $470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IREN. Crewe Advisors LLC acquired a new position in IREN in the 1st quarter valued at $39,000. Main Management LLC acquired a new position in IREN in the 4th quarter valued at $49,000. Delta Financial Group Inc. acquired a new position in IREN in the 1st quarter valued at $61,000. R Squared Ltd raised its holdings in IREN by 170.1% in the 1st quarter. R Squared Ltd now owns 10,290 shares of the company's stock valued at $63,000 after acquiring an additional 6,480 shares in the last quarter. Finally, US Bancorp DE acquired a new position in IREN in the 1st quarter valued at $69,000. 41.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IREN shares. HC Wainwright decreased their price target on IREN from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, May 15th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $16.00 price target (up previously from $12.00) on shares of IREN in a research note on Monday, July 28th. Macquarie lifted their price target on IREN from $15.50 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Wall Street Zen upgraded IREN from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $23.00 price target on shares of IREN in a research note on Friday, May 16th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, IREN has an average rating of "Moderate Buy" and an average target price of $20.89.

IREN Stock Performance

NASDAQ IREN opened at $18.32 on Thursday. IREN Limited has a 52 week low of $5.13 and a 52 week high of $21.54. The business has a 50 day moving average price of $13.98 and a 200-day moving average price of $10.24.

IREN (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.06). IREN had a negative return on equity of 2.12% and a negative net margin of 9.40%. The company had revenue of $148.10 million for the quarter, compared to the consensus estimate of $153.38 million. Equities research analysts forecast that IREN Limited will post 0.43 EPS for the current year.

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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