Farther Finance Advisors LLC Buys 9,384 Shares of IREN Limited $IREN

Key Points

• Farther Finance Advisors LLC increased its stake in IREN Limited by 59.9%, acquiring an additional 9,384 shares in the 2nd quarter.
• IREN Limited reported $0.19 EPS for the last quarter, surpassing analysts' expectations, with revenue totaling $187.30 million.
• Multiple analysts have rated IREN with a Buy rating, with BTIG Research raising its price target from $22.00 to $32.00.

Farther Finance Advisors LLC raised its stake in shares of IREN Limited (NASDAQ:IREN - Free Report) by 59.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,038 shares of the company's stock after purchasing an additional 9,384 shares during the quarter. Farther Finance Advisors LLC's holdings in IREN were worth $365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Crewe Advisors LLC bought a new stake in IREN during the first quarter valued at approximately $39,000. Quarry LP bought a new stake in IREN during the first quarter valued at approximately $40,000. Delta Financial Group Inc. bought a new stake in IREN during the first quarter valued at approximately $61,000. R Squared Ltd lifted its position in IREN by 170.1% during the first quarter. R Squared Ltd now owns 10,290 shares of the company's stock valued at $63,000 after purchasing an additional 6,480 shares during the last quarter. Finally, US Bancorp DE bought a new stake in shares of IREN in the 1st quarter worth approximately $69,000. 41.08% of the stock is currently owned by institutional investors.

IREN Stock Down 9.6%

Shares of NASDAQ IREN opened at $41.86 on Monday. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.53. IREN Limited has a 52 week low of $5.13 and a 52 week high of $49.39. The firm's fifty day moving average is $25.37 and its 200 day moving average is $14.88. The company has a market cap of $11.39 billion, a price-to-earnings ratio of 70.95 and a beta of 4.03.

IREN (NASDAQ:IREN - Get Free Report) last issued its earnings results on Thursday, August 28th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $187.30 million for the quarter, compared to the consensus estimate of $187.51 million. IREN had a net margin of 33.03% and a return on equity of 1.34%. On average, equities research analysts expect that IREN Limited will post 0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IREN shares. 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 report on Tuesday, September 9th. Arete started coverage on shares of IREN in a report on Wednesday, September 24th. They issued a "buy" rating and a $78.00 price objective for the company. Wall Street Zen upgraded shares of IREN from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Arete Research started coverage on shares of IREN in a report on Wednesday, September 24th. They issued a "buy" rating and a $78.00 price objective for the company. Finally, Compass Point started coverage on shares of IREN in a report on Monday, September 15th. They issued a "buy" rating for the company. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.08.

Insider Transactions at IREN

In other IREN news, CEO Daniel John Roberts sold 1,000,000 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $33.13, for a total transaction of $33,130,000.00. Following the transaction, the chief executive officer directly owned 13,989,696 shares of the company's stock, valued at approximately $463,478,628.48. The trade was a 6.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.55% of the company's stock.

About IREN

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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