Trivium Point Advisory LLC Sells 43,023 Shares of IREN Limited $IREN

Key Points

• Trivium Point Advisory LLC reduced its stake in IREN Limited by 35.0%, selling 43,023 shares and holding 79,977 shares valued at approximately $487,000.
• IREN Limited reported a 0.11 EPS for the last quarter, missing estimates of $0.17, while its revenue of $148.10 million also fell short of expectations.
• IREN shares are currently trading at $19.08, having experienced a year high of $21.54 and a low of $5.13, with institutional investors owning 41.08% of the company's stock.

Trivium Point Advisory LLC cut its holdings in IREN Limited (NASDAQ:IREN - Free Report) by 35.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,977 shares of the company's stock after selling 43,023 shares during the quarter. Trivium Point Advisory LLC's holdings in IREN were worth $487,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Two Sigma Investments LP increased its holdings in shares of IREN by 193.2% in the 4th quarter. Two Sigma Investments LP now owns 1,602,642 shares of the company's stock valued at $15,738,000 after purchasing an additional 1,056,005 shares during the period. Regal Partners Ltd grew 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 valued at $16,670,000 after purchasing an additional 822,251 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in IREN during the fourth quarter valued at approximately $7,162,000. Vident Advisory LLC grew its holdings in IREN by 26.1% during the fourth quarter. Vident Advisory LLC now owns 2,937,918 shares of the company's stock valued at $28,850,000 after purchasing an additional 608,736 shares during the last quarter. Finally, Two Seas Capital LP grew its holdings in IREN by 212.7% during the fourth quarter. Two Seas Capital LP now owns 860,000 shares of the company's stock valued at $8,445,000 after purchasing an additional 585,000 shares during the last quarter. Hedge funds and other institutional investors own 41.08% of the company's stock.

IREN Trading Down 9.7%

NASDAQ:IREN traded down $2.0050 during trading hours on Tuesday, reaching $18.7050. 23,928,138 shares of the stock were exchanged, compared to its average volume of 18,833,830. IREN Limited has a twelve month low of $5.13 and a twelve month high of $21.54. The firm has a 50 day moving average of $15.52 and a 200 day moving average of $10.66.

Analysts Set New Price Targets

IREN has been the topic of several research analyst reports. JPMorgan Chase & Co. restated a "neutral" rating and issued a $16.00 price objective (up previously from $12.00) on shares of IREN in a research note on Monday, July 28th. B. Riley restated a "buy" rating and issued a $22.00 target price (up previously from $15.00) on shares of IREN in a research note on Thursday, July 10th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $23.00 price target on shares of IREN in a report on Friday, May 16th. HC Wainwright cut their price target on IREN from $22.00 to $21.00 and set a "buy" rating for the company in a report on Thursday, May 15th. Finally, Wall Street Zen raised IREN from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, IREN currently has a consensus rating of "Moderate Buy" and an average target price 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.