Vident Advisory LLC Increases Position in IREN Limited $IREN

Key Points

• Vident Advisory LLC increased its stake in IREN Limited by 0.6% in Q1, now owning approximately 2,956,712 shares valued at $18,006,000.
• A variety of institutional investors, including JPMorgan Chase and Tower Research Capital, made significant stakes in IREN during the fourth quarter, totaling 41.08% ownership by hedge funds and other institutions.
• Wall Street analysts have upgraded their ratings and price targets for IREN, with an average target price of $20.89 reflecting a general sentiment of a "Moderate Buy."

Vident Advisory LLC boosted its position in shares of IREN Limited (NASDAQ:IREN - Free Report) by 0.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,956,712 shares of the company's stock after buying an additional 18,794 shares during the period. Vident Advisory LLC owned approximately 1.57% of IREN worth $18,006,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IREN. Situational Awareness LP bought a new position in IREN during the first quarter valued at approximately $20,500,000. Two Sigma Investments LP boosted its stake in IREN by 193.2% during the fourth quarter. Two Sigma Investments LP now owns 1,602,642 shares of the company's stock valued at $15,738,000 after buying an additional 1,056,005 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in IREN during the fourth quarter valued at approximately $7,162,000. Trexquant Investment LP boosted its stake in 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. Finally, Two Seas Capital LP boosted its stake in IREN by 212.7% during the fourth quarter. Two Seas Capital LP now owns 860,000 shares of the company's stock valued at $8,445,000 after buying an additional 585,000 shares during the last quarter. 41.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on IREN shares. JPMorgan Chase & Co. reissued a "neutral" rating and set a $16.00 price target (up from $12.00) on shares of IREN in a research note on Monday, July 28th. HC Wainwright raised their price objective on IREN from $21.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Macquarie raised their price objective on IREN from $20.00 to $33.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. B. Riley raised their price objective on IREN from $22.00 to $29.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Finally, Wall Street Zen raised IREN from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, IREN presently has an average rating of "Moderate Buy" and an average target price of $30.44.

IREN Trading Down 2.3%

Shares of IREN stock traded down $0.67 on Wednesday, reaching $28.44. 22,560,127 shares of the company's stock were exchanged, compared to its average volume of 19,627,270. IREN Limited has a 52 week low of $5.13 and a 52 week high of $30.02. The company has a current ratio of 4.29, a quick ratio of 0.46 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $5.34 billion, a PE ratio of 48.62 and a beta of 4.03. The company's fifty day simple moving average is $18.31 and its 200 day simple moving average is $11.50.

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

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.