SLT Holdings LLC Acquires New Shares in IREN Limited $IREN

Key Points

• SLT Holdings LLC has acquired 10,000 shares of IREN Limited, valued at approximately $146,000, marking a new stake in the company.
• CEO Daniel John Roberts sold 1,000,000 shares at an average price of $33.13, resulting in a $33.1 million transaction and a 6.67% reduction in his ownership.
• IREN's stock has seen a year-to-date increase of 186% and reports a return on equity of 1.34% with a net margin of 33.03% for the last quarter.

SLT Holdings LLC acquired a new stake in IREN Limited (NASDAQ:IREN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,000 shares of the company's stock, valued at approximately $146,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in IREN in the first quarter valued at about $39,000. Quarry LP bought a new stake in IREN in the first quarter valued at about $40,000. Delta Financial Group Inc. bought a new stake in shares of IREN in the first quarter worth about $61,000. R Squared Ltd increased its holdings in shares of IREN by 170.1% in the first quarter. R Squared Ltd now owns 10,290 shares of the company's stock worth $63,000 after acquiring an additional 6,480 shares in the last quarter. Finally, US Bancorp DE bought a new stake in shares of IREN in the first quarter worth about $69,000. Institutional investors own 41.08% of the company's stock.

Insider Buying and Selling at IREN

In other news, CEO Daniel John Roberts sold 1,000,000 shares of the company's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $33.13, for a total transaction of $33,130,000.00. Following the completion of the transaction, the chief executive officer directly owned 13,989,696 shares of the company's stock, valued at $463,478,628.48. This represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.55% of the stock is owned by corporate insiders.

IREN Stock Down 6.4%

IREN stock opened at $59.77 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.29 and a quick ratio of 4.29. The stock has a market capitalization of $16.26 billion, a P/E ratio of 101.31 and a beta of 4.19. The business has a 50-day moving average of $32.75 and a 200-day moving average of $18.00. IREN Limited has a fifty-two week low of $5.13 and a fifty-two week high of $70.05.

IREN (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $187.30 million during the quarter, compared to analysts' expectations of $187.51 million. IREN had a return on equity of 1.34% and a net margin of 33.03%. On average, sell-side analysts anticipate that IREN Limited will post 0.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. BTIG Research increased their price target on IREN from $22.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. Sanford C. Bernstein restated an "outperform" rating and issued a $75.00 price target on shares of IREN in a report on Thursday, September 25th. Compass Point assumed coverage on IREN in a report on Monday, September 15th. They issued a "buy" rating for the company. JPMorgan Chase & Co. restated an "underweight" rating and issued a $24.00 price target (up from $16.00) on shares of IREN in a report on Friday, September 26th. Finally, Arete assumed coverage on IREN in a report on Wednesday, September 24th. They issued a "buy" rating and a $78.00 price target for the company. Eleven investment 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. According to data from MarketBeat, IREN has a consensus rating of "Moderate Buy" and an average price target of $47.73.

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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