Fox Run Management L.L.C. Buys Shares of 27,714 IREN Limited $IREN

Key Points

• Fox Run Management L.L.C. has acquired a new stake in IREN Limited, purchasing 27,714 shares valued at approximately $169,000.
• Several institutional investors, including JPMorgan Chase and Wells Fargo, have also increased their holdings in IREN, with institutional ownership now at 41.08%.
• Analyst ratings for IREN show a majority of positive outlooks, with one Strong Buy, eight Buy, and two Hold ratings, alongside an average price target increasing to $20.89.

Fox Run Management L.L.C. bought a new position in IREN Limited (NASDAQ:IREN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 27,714 shares of the company's stock, valued at approximately $169,000.

Other institutional investors have also added to or reduced their stakes in the company. Maridea Wealth Management LLC grew its holdings in IREN by 57.1% during the 1st quarter. Maridea Wealth Management LLC now owns 320,167 shares of the company's stock valued at $1,950,000 after buying an additional 116,408 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of IREN in the fourth quarter valued at $587,000. Private Advisor Group LLC lifted its position in IREN by 4,075.5% in the first quarter. Private Advisor Group LLC now owns 508,118 shares of the company's stock worth $3,094,000 after buying an additional 495,949 shares during the last quarter. Evolution Wealth Advisors LLC lifted its position in IREN by 61.3% in the first quarter. Evolution Wealth Advisors LLC now owns 77,220 shares of the company's stock worth $470,000 after buying an additional 29,340 shares during the last quarter. Finally, Headlands Technologies LLC lifted its position in IREN by 331.7% in the first quarter. Headlands Technologies LLC now owns 108,198 shares of the company's stock worth $659,000 after buying an additional 83,135 shares during the last quarter. 41.08% of the stock is owned by hedge funds and other institutional investors.

IREN Stock Down 0.6%

Shares of IREN traded down $0.13 during trading hours on Tuesday, hitting $22.99. 20,395,632 shares of the stock were exchanged, compared to its average volume of 21,465,328. IREN Limited has a 12-month low of $5.13 and a 12-month high of $23.38. The stock's 50-day moving average price is $16.81 and its two-hundred day moving average price is $11.06.

Wall Street Analysts Forecast Growth

IREN has been the subject of several research analyst reports. Canaccord Genuity Group reiterated a "buy" rating and set a $23.00 target price on shares of IREN in a research report on Friday, May 16th. B. Riley restated a "buy" rating and set a $22.00 price target (up previously from $15.00) on shares of IREN in a research note on Thursday, July 10th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $16.00 target price (up previously from $12.00) on shares of IREN in a research note on Monday, July 28th. Macquarie boosted their price target on IREN from $15.50 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Finally, Wall Street Zen upgraded IREN from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $20.89.

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.