Mizuho Markets Americas LLC Raises Stock Holdings in IREN Limited (NASDAQ:IREN)

Key Points

• Mizuho Markets Americas LLC increased its holdings in IREN Limited by 1,832.5% in the first quarter, now owning 502,459 shares worth approximately $3.06 million.
• IREN Limited reported a loss with earnings per share of $0.11 for the last quarter, missing analysts' expectations of $0.17, and revenue was lower than anticipated at $148.10 million.
• Recent analyst updates show a consensus rating of "Moderate Buy" for IREN, with price targets ranging from $16.00 to $22.00, suggesting a potential upside for investors.

Mizuho Markets Americas LLC raised its stake in IREN Limited (NASDAQ:IREN - Free Report) by 1,832.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 502,459 shares of the company's stock after buying an additional 476,459 shares during the quarter. Mizuho Markets Americas LLC owned 0.27% of IREN worth $3,060,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Main Management LLC acquired a new stake in shares of IREN during the fourth quarter worth about $49,000. Crewe Advisors LLC acquired a new stake in shares of IREN during the first quarter worth about $39,000. Tower Research Capital LLC TRC raised its position in shares of IREN by 1,059.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company's stock worth $82,000 after purchasing an additional 7,646 shares during the period. Delta Financial Group Inc. acquired a new stake in shares of IREN during the first quarter worth about $61,000. Finally, R Squared Ltd raised its position in shares of IREN by 170.1% during the first quarter. R Squared Ltd now owns 10,290 shares of the company's stock worth $63,000 after purchasing an additional 6,480 shares during the period. Institutional investors and hedge funds own 41.08% of the company's stock.

IREN Stock Down 0.8%

Shares of IREN stock traded down $0.14 on Tuesday, hitting $17.83. 13,755,453 shares of the company's stock traded hands, compared to its average volume of 25,353,288. IREN Limited has a one year low of $5.13 and a one year high of $21.54. The company has a fifty day moving average of $14.74 and a two-hundred day moving average of $10.40.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IREN. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $16.00 price objective (up from $12.00) on shares of IREN in a report on Monday, July 28th. Canaccord Genuity Group reiterated a "buy" rating and set a $23.00 target price on shares of IREN in a research note on Friday, May 16th. Macquarie lifted their target price on IREN from $15.50 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. HC Wainwright reduced their target price on IREN from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. Finally, B. Riley reiterated a "buy" rating and set a $22.00 target price (up from $15.00) on shares of IREN in a research note on Thursday, July 10th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.