Private Advisor Group LLC Purchases 495,949 Shares of IREN Limited (NASDAQ:IREN)

Private Advisor Group LLC increased its position in shares of IREN Limited (NASDAQ:IREN - Free Report) by 4,075.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 508,118 shares of the company's stock after acquiring an additional 495,949 shares during the quarter. Private Advisor Group LLC owned about 0.27% of IREN worth $3,094,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its stake in IREN by 1,307.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company's stock valued at $55,825,000 after buying an additional 5,280,999 shares in the last quarter. Discovery Capital Management LLC CT acquired a new position in IREN during the fourth quarter worth $11,544,000. Two Sigma Investments LP increased its holdings in IREN by 193.2% during the fourth quarter. Two Sigma Investments LP now owns 1,602,642 shares of the company's stock worth $15,738,000 after buying an additional 1,056,005 shares during the last quarter. Regal Partners Ltd increased its holdings in IREN by 93.9% during the fourth quarter. Regal Partners Ltd now owns 1,697,554 shares of the company's stock worth $16,670,000 after buying an additional 822,251 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new position in IREN during the fourth quarter worth $7,162,000. Institutional investors own 41.08% of the company's stock.

IREN Trading Down 2.3%

Shares of IREN stock traded down $0.42 during trading on Friday, reaching $17.72. The company's stock had a trading volume of 20,212,480 shares, compared to its average volume of 33,024,842. The business's 50-day moving average price is $12.79 and its 200-day moving average price is $9.94. IREN Limited has a 52 week low of $5.13 and a 52 week high of $21.54.

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

Analysts Set New Price Targets

Several research firms have commented on IREN. B. Riley reiterated a "buy" rating and issued a $22.00 price objective (up from $15.00) on shares of IREN in a report on Thursday, July 10th. HC Wainwright decreased their price objective on shares of IREN from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. Wall Street Zen upgraded shares of IREN from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Canaccord Genuity Group reiterated a "buy" rating and issued a $23.00 price objective on shares of IREN in a report on Friday, May 16th. Finally, Macquarie upped their price objective on shares of IREN from $15.50 to $20.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.44.

IREN Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.