Trivium Point Advisory LLC Increases Stock Holdings in IREN Limited $IREN

Key Points

• Trivium Point Advisory LLC increased its stake in IREN Limited by 220.5%, owning approximately 256,360 shares valued at around $3.735 million following significant purchases during the second quarter.
• IREN Limited's stock is currently priced at $45.93, showing a 9.7% increase, with a market cap of $12.49 billion and a year-over-year performance between a low of $5.13 and a high of $49.39.
• Recent analyst upgrades have led to target price increases for IREN shares, with estimates now reaching as high as $78.00 from Arete Research, reflecting strong confidence in the company's performance.

Trivium Point Advisory LLC lifted its position in IREN Limited (NASDAQ:IREN - Free Report) by 220.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 256,360 shares of the company's stock after buying an additional 176,383 shares during the quarter. Trivium Point Advisory LLC owned approximately 0.14% of IREN worth $3,735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Situational Awareness LP purchased a new stake in IREN in the first quarter valued at approximately $20,500,000. Vident Advisory LLC raised its stake in IREN by 0.6% in the first quarter. Vident Advisory LLC now owns 2,956,712 shares of the company's stock valued at $18,006,000 after purchasing an additional 18,794 shares in the last quarter. Trexquant Investment LP raised its stake in IREN by 158.6% in the first quarter. Trexquant Investment LP now owns 1,038,220 shares of the company's stock valued at $6,323,000 after purchasing an additional 636,767 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in IREN by 46.8% in the first quarter. Exchange Traded Concepts LLC now owns 1,020,084 shares of the company's stock valued at $6,212,000 after purchasing an additional 325,327 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in IREN by 14.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 987,466 shares of the company's stock valued at $6,014,000 after purchasing an additional 122,668 shares in the last quarter. 41.08% of the stock is owned by hedge funds and other institutional investors.

IREN Stock Up 9.7%

Shares of NASDAQ IREN opened at $45.93 on Tuesday. IREN Limited has a one year low of $5.13 and a one year high of $49.39. 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 firm's 50 day simple moving average is $25.93 and its two-hundred day simple moving average is $15.15. The stock has a market capitalization of $12.49 billion, a P/E ratio of 77.85 and a beta of 4.03.

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

Insider Activity

In other news, CEO Daniel John Roberts sold 1,000,000 shares of the firm's 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 transaction, the chief executive officer owned 13,989,696 shares in the company, valued at approximately $463,478,628.48. This trade represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 21.55% of the company's stock.

Analyst Upgrades and Downgrades

IREN has been the topic of a number of recent analyst reports. Macquarie raised their target price on shares of IREN from $33.00 to $55.00 and gave the company an "outperform" rating in a research note on Monday. Arete Research initiated coverage on shares of IREN in a research note on Wednesday, September 24th. They issued a "buy" rating and a $78.00 target price on the stock. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $75.00 target price on shares of IREN in a research note on Thursday. Cantor Fitzgerald raised their target price on shares of IREN from $27.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Finally, Roth Capital reiterated a "buy" rating and set a $35.00 price target on shares of IREN in a research report on Friday, August 29th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $44.92.

About IREN

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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