IREN Limited $IREN Shares Sold by Trivium Point Advisory LLC

Key Points

• Trivium Point Advisory LLC cut its stake in IREN by 29.3%, selling 75,138 shares and retaining 181,222 shares valued at about $8.51 million, making IREN roughly 0.9% of the fund’s portfolio and its 28th largest holding.
• IREN missed quarterly expectations, reporting EPS of ($0.44) versus ($0.07) expected and revenue of $184.69M versus $229.64M expected (revenue down 23.1% YoY), and the stock was trading down about 7.4% to $40.95.
• Analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average target price of $71.69 (13 Buys, 3 Holds, 2 Sells).

Trivium Point Advisory LLC reduced its holdings in shares of IREN Limited (NASDAQ:IREN - Free Report) by 29.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 181,222 shares of the company's stock after selling 75,138 shares during the quarter. IREN accounts for about 0.9% of Trivium Point Advisory LLC's investment portfolio, making the stock its 28th largest holding. Trivium Point Advisory LLC owned about 0.07% of IREN worth $8,505,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Global Retirement Partners LLC acquired a new stake in IREN in the third quarter valued at $25,000. SLT Holdings LLC increased its position in shares of IREN by 6.0% in the 3rd quarter. SLT Holdings LLC now owns 10,600 shares of the company's stock worth $497,000 after purchasing an additional 600 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of IREN by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 25,010 shares of the company's stock worth $1,174,000 after purchasing an additional 845 shares during the last quarter. Allianz SE acquired a new stake in shares of IREN in the 3rd quarter valued at about $57,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of IREN by 5.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 22,393 shares of the company's stock worth $1,051,000 after purchasing an additional 1,233 shares during the last quarter. Institutional investors own 41.08% of the company's stock.

Analysts Set New Price Targets

IREN has been the subject of several research analyst reports. Citigroup initiated coverage on IREN in a report on Wednesday, November 19th. They issued an "outperform" rating for the company. Weiss Ratings downgraded IREN from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday. Zacks Research upgraded IREN from a "strong sell" rating to a "hold" rating in a research note on Tuesday, December 16th. HC Wainwright raised shares of IREN from a "sell" rating to a "buy" rating and set a $80.00 price objective for the company in a report on Tuesday, January 13th. Finally, UBS Group reiterated a "buy" rating on shares of IREN in a research note on Friday, November 7th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, IREN currently has a consensus rating of "Moderate Buy" and an average target price of $71.69.

IREN Trading Down 7.4%

IREN stock opened at $40.95 on Friday. The company has a quick ratio of 4.96, a current ratio of 4.96 and a debt-to-equity ratio of 1.51. The firm has a 50-day moving average price of $46.73 and a two-hundred day moving average price of $45.06. The firm has a market capitalization of $13.61 billion, a price-to-earnings ratio of 30.79 and a beta of 4.27. IREN Limited has a 52-week low of $5.13 and a 52-week high of $76.87.

IREN (NASDAQ:IREN - Get Free Report) last posted its earnings results on Thursday, February 5th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.37). The business had revenue of $184.69 million during the quarter, compared to analyst estimates of $229.64 million. IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The business's quarterly revenue was down 23.1% on a year-over-year basis. Sell-side analysts expect that IREN Limited will post 0.43 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.