Invesco Ltd. Has $12.41 Million Stake in IREN Limited $IREN

Key Points

• Invesco Ltd. has reduced its stake in IREN Limited by 11.8%, selling 273,242 shares during the first quarter, bringing its total ownership to approximately 1.09% of the company.
• Mizuho Markets Americas LLC significantly increased its position in IREN by 1,832.5%, acquiring an additional 476,459 shares in the same quarter.
• Multiple analysts have raised their ratings and target prices for IREN, with a recent report from B. Riley issuing a buy rating and increasing the target price to $22.00.

Invesco Ltd. trimmed its position in IREN Limited (NASDAQ:IREN - Free Report) by 11.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,038,341 shares of the company's stock after selling 273,242 shares during the quarter. Invesco Ltd. owned about 1.09% of IREN worth $12,413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of IREN. JPMorgan Chase & Co. acquired a new position in IREN in the 4th quarter valued at $587,000. First Trust Advisors LP boosted its holdings in IREN by 9.6% during the fourth quarter. First Trust Advisors LP now owns 343,833 shares of the company's stock valued at $3,376,000 after acquiring an additional 30,160 shares during the period. Tower Research Capital LLC TRC grew its position in shares of IREN by 1,059.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company's stock valued at $82,000 after purchasing an additional 7,646 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of IREN by 72.3% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 189,245 shares of the company's stock valued at $1,858,000 after purchasing an additional 79,392 shares during the last quarter. Finally, Paloma Partners Management Co increased its stake in shares of IREN by 67.5% in the fourth quarter. Paloma Partners Management Co now owns 543,440 shares of the company's stock worth $5,337,000 after purchasing an additional 218,940 shares during the period. 41.08% of the stock is owned by institutional investors.

IREN Price Performance

Shares of NASDAQ:IREN traded up $1.18 during midday trading on Thursday, reaching $23.54. 19,239,295 shares of the company's stock were exchanged, compared to its average volume of 18,995,857. The company's 50 day simple moving average is $17.06 and its two-hundred day simple moving average is $11.14. IREN Limited has a 12 month low of $5.13 and a 12 month high of $24.29.

Analysts Set New Price Targets

IREN has been the subject of several recent analyst reports. JPMorgan Chase & Co. restated a "neutral" rating and set a $16.00 target price (up previously from $12.00) on shares of IREN in a research note on Monday, July 28th. HC Wainwright reduced their price objective on IREN from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Thursday, May 15th. Wall Street Zen upgraded shares of IREN from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $23.00 target price on shares of IREN in a research report on Friday, May 16th. Finally, Macquarie increased their price target on shares of IREN from $15.50 to $20.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.89.

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.