Sava Infond d.o.o. Purchases 6,500 Shares of IREN Limited $IREN

Key Points

• Sava Infond d.o.o. increased its holdings in IREN Limited by 65% during Q2, acquiring an additional 6,500 shares, bringing their total to 16,500 shares valued at $240,000.
• Multiple institutional investors have participated in IREN's growth, with significant purchases made in Q1 including stakes worth approximately $39,000 to $69,000.
• Analysts are optimistic, with eleven rating the stock as a "Buy" and a consensus target price of $47.73, indicating strong growth potential for IREN Limited.

Sava Infond d.o.o. boosted its position in IREN Limited (NASDAQ:IREN - Free Report) by 65.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,500 shares of the company's stock after acquiring an additional 6,500 shares during the period. Sava Infond d.o.o.'s holdings in IREN were worth $240,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in shares of IREN in the 1st quarter worth about $39,000. Quarry LP purchased a new stake in shares of IREN in the 1st quarter worth about $40,000. Delta Financial Group Inc. purchased a new stake in shares of IREN in the 1st quarter worth about $61,000. R Squared Ltd lifted its position in shares of IREN by 170.1% in the 1st 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. Finally, US Bancorp DE purchased a new stake in shares of IREN in the 1st quarter worth about $69,000. Institutional investors own 41.08% of the company's stock.

Wall Street Analysts Forecast Growth

IREN has been the subject of several research analyst reports. HC Wainwright raised their target price on shares of IREN from $21.00 to $36.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of IREN in a research report on Saturday, September 27th. Compass Point initiated coverage on shares of IREN in a research report on Monday, September 15th. They issued a "buy" rating for the company. BTIG Research raised their target price on shares of IREN from $22.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Finally, Roth Capital reissued a "buy" rating and set a $35.00 price target on shares of IREN in a research report on Friday, August 29th. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $47.73.

IREN Stock Up 7.3%

NASDAQ:IREN opened at $50.46 on Friday. The firm has a market cap of $13.72 billion, a P/E ratio of 85.53 and a beta of 4.19. The company has a debt-to-equity ratio of 0.53, a quick ratio of 4.29 and a current ratio of 4.29. IREN Limited has a fifty-two week low of $5.13 and a fifty-two week high of $52.19. The firm has a 50-day simple moving average of $28.29 and a two-hundred day simple moving average of $16.16.

IREN (NASDAQ:IREN - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. The business had revenue of $187.30 million during the quarter, compared to analyst estimates of $187.51 million. IREN had a net margin of 33.03% and a return on equity of 1.34%. Analysts predict that IREN Limited will post 0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IREN news, CEO Daniel John Roberts sold 1,000,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $33.13, for a total transaction of $33,130,000.00. Following the completion of the sale, the chief executive officer directly owned 13,989,696 shares in the company, valued at approximately $463,478,628.48. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 21.55% of the company's stock.

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.

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