Janus Henderson Group PLC Raises Holdings in IREN Limited $IREN

Key Points

• Janus Henderson Group increased its IREN stake by 439.4% in the first quarter, owning 34,495 shares valued at approximately $1.18 million. Hedge funds and institutional investors collectively own 41.08% of the company.
• IREN shares opened at $38.74 after falling 6%, trading below both the 50-day and 200-day moving averages. The stock has a market capitalization of $13.84 billion and a 52-week range of $17.22 to $76.87.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $82.71, despite mixed ratings from some firms.

Janus Henderson Group PLC increased its stake in shares of IREN Limited (NASDAQ:IREN - Free Report) by 439.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,495 shares of the company's stock after acquiring an additional 28,100 shares during the quarter. Janus Henderson Group PLC's holdings in IREN were worth $1,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. North Star Investment Management Corp. purchased a new stake in shares of IREN during the fourth quarter valued at approximately $26,000. Clearstead Trust LLC purchased a new position in shares of IREN in the fourth quarter worth $27,000. Motco purchased a new position in shares of IREN in the fourth quarter worth $30,000. Purpose Unlimited Inc. bought a new stake in IREN during the 4th quarter valued at $34,000. Finally, Arax Advisory Partners raised its holdings in IREN by 306.2% during the 4th quarter. Arax Advisory Partners now owns 979 shares of the company's stock valued at $37,000 after buying an additional 738 shares during the last quarter. 41.08% of the stock is owned by hedge funds and other institutional investors.

IREN Trading Down 6.0%

Shares of IREN opened at $38.74 on Tuesday. The firm's 50-day moving average price is $46.06 and its 200-day moving average price is $46.56. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 80.71 and a beta of 4.29. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44. IREN Limited has a 1-year low of $17.22 and a 1-year high of $76.87.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Compass Point reissued a "buy" rating on shares of IREN in a report on Tuesday, July 21st. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of IREN in a research note on Monday, July 20th. B. Riley Financial increased their target price on shares of IREN from $88.00 to $96.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Citigroup reissued a "market outperform" rating on shares of IREN in a research note on Tuesday, July 21st. Finally, Cantor Fitzgerald boosted their price target on IREN from $77.00 to $99.00 and gave the company an "overweight" rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.71.

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.

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