Trivium Point Advisory LLC Reduces Stock Position in IREN Limited $IREN

Key Points

• Trivium Point Advisory LLC trimmed its stake in IREN by 22.3% in Q4, selling 40,347 shares and ending the period with 140,875 shares worth about $5.32 million.
• Analyst sentiment is largely positive with 13 Buy, 5 Hold, and 1 Sell ratings and an average price target of $70.08, giving the stock an overall "Moderate Buy" consensus.
• IREN missed Q4 expectations, reporting EPS of ($0.44) vs. ($0.07) expected and revenue of $184.7M vs. $229.6M expected (revenue down 23.1% year-over-year); the stock opened at $47.70 and has a market cap of $15.85B.

Trivium Point Advisory LLC trimmed its stake in shares of IREN Limited (NASDAQ:IREN - Free Report) by 22.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,875 shares of the company's stock after selling 40,347 shares during the period. Trivium Point Advisory LLC's holdings in IREN were worth $5,321,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Retirement Partners LLC acquired a new position in IREN during the third quarter worth $25,000. Miller Wealth Advisors LLC increased its position in shares of IREN by 240.0% in the fourth quarter. Miller Wealth Advisors LLC now owns 680 shares of the company's stock valued at $26,000 after buying an additional 480 shares in the last quarter. Aventura Private Wealth LLC acquired a new position in shares of IREN during the 4th quarter worth $28,000. Albion Financial Group UT purchased a new stake in shares of IREN in the 4th quarter worth about $38,000. Finally, Legacy Bridge LLC purchased a new position in IREN during the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 41.08% of the company's stock.

Analyst Ratings Changes

IREN has been the topic of several research reports. Weiss Ratings upgraded shares of IREN from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, March 9th. The Goldman Sachs Group assumed coverage on IREN in a report on Thursday, December 18th. They set a "neutral" rating and a $39.00 target price on the stock. B. Riley Financial reissued a "buy" rating on shares of IREN in a report on Friday, February 6th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $70.00 price target on shares of IREN in a research note on Tuesday, February 10th. Finally, Freedom Capital raised IREN to a "hold" rating in a research report on Wednesday, April 1st. Thirteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $70.08.

IREN Stock Down 2.3%

Shares of NASDAQ:IREN opened at $47.70 on Friday. The stock has a 50-day simple moving average of $40.70 and a 200-day simple moving average of $47.58. The stock has a market capitalization of $15.85 billion, a P/E ratio of 35.86 and a beta of 4.30. IREN Limited has a 1 year low of $5.36 and a 1 year high of $76.87. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.96 and a current ratio of 4.96.

IREN (NASDAQ:IREN - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.37). The business had revenue of $184.69 million for the quarter, compared to analysts' expectations of $229.64 million. IREN had a negative return on equity of 10.01% and a net margin of 56.59%.The company's quarterly revenue was down 23.1% compared to the same quarter last year. Equities analysts forecast that IREN Limited will post 0.43 earnings per share for the current year.

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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