Ring Mountain Capital LLC Buys 24,148 Shares of IREN Limited $IREN

Key Points

• Ring Mountain Capital LLC increased its stake in IREN by 301.9% in Q4, acquiring an additional 24,148 shares to hold 32,148 shares worth $1.214 million (about 0.6% of its portfolio and its 29th largest position).
• IREN reported a weak quarter, missing estimates with EPS of -$0.44 vs. -$0.07 and revenue of $184.69M versus $229.64M, with revenue down 23.1% year‑over‑year.
• Other institutions also added positions and institutional ownership stands at 41.08%; analysts show a consensus of "Moderate Buy" (13 Buys, 5 Holds, 1 Sell) with an average target of $70.08.

Ring Mountain Capital LLC increased its stake in shares of IREN Limited (NASDAQ:IREN - Free Report) by 301.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,148 shares of the company's stock after acquiring an additional 24,148 shares during the quarter. IREN makes up about 0.6% of Ring Mountain Capital LLC's portfolio, making the stock its 29th largest position. Ring Mountain Capital LLC's holdings in IREN were worth $1,214,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in IREN during the 3rd quarter valued at $1,854,000. Wealth Enhancement Advisory Services LLC increased its stake in IREN by 88.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 115,230 shares of the company's stock valued at $5,408,000 after purchasing an additional 53,982 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in IREN during the 3rd quarter valued at $2,995,000. Avaii Wealth Management LLC increased its stake in IREN by 208.9% during the 4th quarter. Avaii Wealth Management LLC now owns 145,767 shares of the company's stock valued at $5,506,000 after purchasing an additional 98,581 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its stake in IREN by 1,055.2% during the 3rd quarter. Foundations Investment Advisors LLC now owns 115,754 shares of the company's stock valued at $5,432,000 after purchasing an additional 105,734 shares in the last quarter. Institutional investors own 41.08% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on IREN shares. Canaccord Genuity Group reiterated a "buy" rating and issued a $70.00 target price on shares of IREN in a research note on Tuesday, February 10th. Weiss Ratings upgraded shares of IREN from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 9th. Cantor Fitzgerald reduced their target price on shares of IREN to $61.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. B. Riley Financial reiterated a "buy" rating on shares of IREN in a research note on Friday, February 6th. Finally, HC Wainwright upgraded shares of IREN from a "sell" rating to a "buy" rating and set a $80.00 target price for the company in a research note on Tuesday, January 13th. Thirteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $70.08.

IREN Stock Performance

NASDAQ IREN opened at $48.12 on Friday. The firm has a market cap of $15.99 billion, a price-to-earnings ratio of 36.18 and a beta of 4.30. The company has a fifty day moving average price of $40.83 and a 200-day moving average price of $47.59. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.96 and a quick ratio of 4.96. IREN Limited has a 1 year low of $5.45 and a 1 year high of $76.87.

IREN (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.37). The company had revenue of $184.69 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. As a group, equities research analysts predict that IREN Limited will post 0.43 EPS for the current fiscal 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.

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