SG Americas Securities LLC Purchases Shares of 97,289 IREN Limited (NASDAQ:IREN)

SG Americas Securities LLC bought a new position in IREN Limited (NASDAQ:IREN - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 97,289 shares of the company's stock, valued at approximately $592,000. SG Americas Securities LLC owned 0.05% of IREN at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in shares of IREN by 57.3% in the 1st quarter. Farther Finance Advisors LLC now owns 15,654 shares of the company's stock worth $104,000 after buying an additional 5,700 shares during the period. JT Stratford LLC lifted its holdings in shares of IREN by 104.1% in the 4th quarter. JT Stratford LLC now owns 36,063 shares of the company's stock worth $354,000 after buying an additional 18,398 shares during the period. Two Seas Capital LP lifted its holdings in shares of IREN by 212.7% in the 4th quarter. Two Seas Capital LP now owns 860,000 shares of the company's stock worth $8,445,000 after buying an additional 585,000 shares during the period. Continuum Advisory LLC lifted its holdings in shares of IREN by 11.3% in the 4th quarter. Continuum Advisory LLC now owns 56,678 shares of the company's stock worth $557,000 after buying an additional 5,772 shares during the period. Finally, Vident Advisory LLC lifted its holdings in shares of IREN by 26.1% in the 4th quarter. Vident Advisory LLC now owns 2,937,918 shares of the company's stock worth $28,850,000 after buying an additional 608,736 shares during the period. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

IREN Trading Up 6.8%

IREN stock traded up $0.67 during midday trading on Friday, reaching $10.47. The company's stock had a trading volume of 31,892,790 shares, compared to its average volume of 15,972,155. The stock's 50-day simple moving average is $7.98 and its 200-day simple moving average is $9.20. IREN Limited has a 52-week low of $5.13 and a 52-week high of $15.92.

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

Analyst Ratings Changes

Several brokerages have weighed in on IREN. JPMorgan Chase & Co. upgraded IREN from a "neutral" rating to an "overweight" rating and lowered their target price for the stock from $15.00 to $12.00 in a report on Thursday, March 13th. Wall Street Zen cut IREN from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Macquarie upped their price objective on IREN from $15.50 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Canaccord Genuity Group restated a "buy" rating and set a $23.00 price objective on shares of IREN in a research note on Friday, May 16th. Finally, B. Riley upped their price objective on IREN from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, IREN presently has an average rating of "Moderate Buy" and an average target price of $20.30.

IREN Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.