SBI Securities Co. Ltd. lessened its holdings in shares of IREN Limited (NASDAQ:IREN - Free Report) by 22.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,990 shares of the company's stock after selling 15,659 shares during the quarter. SBI Securities Co. Ltd.'s holdings in IREN were worth $787,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of IREN. Situational Awareness LP acquired a new stake in shares of IREN in the 1st quarter worth about $20,500,000. Allianz Asset Management GmbH bought a new stake in IREN during the 2nd quarter worth approximately $10,743,000. Trexquant Investment LP boosted its position in shares of IREN by 158.6% during the first quarter. Trexquant Investment LP now owns 1,038,220 shares of the company's stock valued at $6,323,000 after buying an additional 636,767 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of IREN by 4,075.5% during the first quarter. Private Advisor Group LLC now owns 508,118 shares of the company's stock valued at $3,094,000 after buying an additional 495,949 shares during the last quarter. Finally, Mizuho Markets Americas LLC grew its holdings in IREN by 1,832.5% during the first quarter. Mizuho Markets Americas LLC now owns 502,459 shares of the company's stock worth $3,060,000 after buying an additional 476,459 shares in the last quarter. Institutional investors and hedge funds own 41.08% of the company's stock.
IREN Trading Down 12.7%
Shares of IREN opened at $48.65 on Friday. IREN Limited has a fifty-two week low of $5.13 and a fifty-two week high of $76.87. The business has a 50-day moving average of $52.14 and a 200 day moving average of $27.36. The firm has a market cap of $13.23 billion, a P/E ratio of 25.08 and a beta of 4.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.52 and a current ratio of 5.52.
IREN (NASDAQ:IREN - Get Free Report) last posted its earnings results on Thursday, August 28th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $187.30 million during the quarter, compared to the consensus estimate of $187.51 million. IREN had a net margin of 86.96% and a negative return on equity of 3.60%. As a group, research analysts forecast that IREN Limited will post 0.43 EPS for the current year.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on IREN shares. JPMorgan Chase & Co. restated an "underweight" rating and set a $24.00 price objective (up from $16.00) on shares of IREN in a research note on Friday, September 26th. B. Riley reaffirmed a "buy" rating on shares of IREN in a research report on Wednesday, October 22nd. Canaccord Genuity Group increased their price objective on shares of IREN from $42.00 to $70.00 and gave the company a "buy" rating in a research note on Monday. BTIG Research lifted their price target on IREN from $32.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, October 14th. Finally, Arete assumed coverage on IREN in a research report on Wednesday, September 24th. They set a "buy" rating and a $78.00 target price for the company. Eleven research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, IREN presently has a consensus rating of "Hold" and a consensus price target of $67.58.
View Our Latest Analysis on IREN
Insider Activity
In other IREN news, CEO Daniel John Roberts sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $33.13, for a total value of $33,130,000.00. Following the sale, the chief executive officer directly owned 13,989,696 shares in the company, valued at $463,478,628.48. This represents a 6.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.02% of the company's stock.
IREN Company Profile
(
Free Report)
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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