Vontobel Holding Ltd. Buys 20,157 Shares of IREN Limited (NASDAQ:IREN)

Vontobel Holding Ltd. lifted its position in shares of IREN Limited (NASDAQ:IREN - Free Report) by 36.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,080 shares of the company's stock after buying an additional 20,157 shares during the quarter. Vontobel Holding Ltd.'s holdings in IREN were worth $463,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of IREN. Crewe Advisors LLC bought a new position in shares of IREN in the first quarter worth $39,000. Exchange Traded Concepts LLC increased its position in shares of IREN by 46.8% in the first quarter. Exchange Traded Concepts LLC now owns 1,020,084 shares of the company's stock worth $6,212,000 after purchasing an additional 325,327 shares during the period. SG Americas Securities LLC bought a new position in shares of IREN in the first quarter worth $592,000. Farther Finance Advisors LLC increased its position in shares of IREN by 57.3% in the first quarter. Farther Finance Advisors LLC now owns 15,654 shares of the company's stock worth $104,000 after purchasing an additional 5,700 shares during the period. Finally, JT Stratford LLC grew its position in IREN by 104.1% in the fourth quarter. JT Stratford LLC now owns 36,063 shares of the company's stock valued at $354,000 after acquiring an additional 18,398 shares during the last quarter. Institutional investors and hedge funds own 41.08% of the company's stock.

IREN Trading Down 4.7%

NASDAQ IREN traded down $0.80 on Friday, reaching $16.23. The company had a trading volume of 23,452,451 shares, compared to its average volume of 16,879,796. The company's fifty day moving average is $10.47 and its 200 day moving average is $9.43. IREN Limited has a 52-week low of $5.13 and a 52-week high of $18.54.

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

Wall Street Analyst Weigh In

IREN has been the topic of a number of recent analyst reports. Wall Street Zen cut IREN from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. upgraded IREN from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $15.00 to $12.00 in a report on Thursday, March 13th. Macquarie lifted 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. B. Riley reaffirmed a "buy" rating and issued a $22.00 price objective (up from $15.00) on shares of IREN in a research note on Thursday. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $23.00 price objective on shares of IREN in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, IREN has an average rating of "Moderate Buy" and a consensus price target of $20.44.

IREN Company Profile

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