Wealth Enhancement Advisory Services LLC Acquires 53,982 Shares of IREN Limited $IREN

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of IREN Limited (NASDAQ:IREN) by 88.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,230 shares of the company’s stock after purchasing an additional 53,982 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in IREN were worth $5,408,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new stake in IREN during the third quarter worth approximately $25,000. Vermillion Wealth Management Inc. acquired a new position in IREN in the 3rd quarter valued at $74,000. CWM LLC bought a new stake in shares of IREN during the 3rd quarter valued at $165,000. Advisors Asset Management Inc. lifted its position in shares of IREN by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,528 shares of the company’s stock valued at $66,000 after acquiring an additional 1,839 shares during the period. Finally, Pinnacle Financial Partners Inc acquired a new stake in shares of IREN during the 3rd quarter worth $213,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on IREN shares. B. Riley reaffirmed a “buy” rating on shares of IREN in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. raised their target price on shares of IREN from $28.00 to $39.00 and gave the company an “underweight” rating in a report on Monday, November 24th. JMP Securities set a $80.00 target price on shares of IREN in a research report on Wednesday, November 19th. HC Wainwright upgraded shares of IREN from a “sell” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Tuesday, January 13th. Finally, Wall Street Zen raised shares of IREN from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Thirteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.36.

IREN Trading Up 8.5%

Shares of IREN stock opened at $56.68 on Monday. The firm has a market capitalization of $16.07 billion, a PE ratio of 29.22 and a beta of 4.25. The company has a current ratio of 5.52, a quick ratio of 5.52 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average is $45.40 and its 200 day moving average is $40.31. IREN Limited has a 1 year low of $5.13 and a 1 year high of $76.87.

IREN (NASDAQ:IREN) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.48). IREN had a net margin of 86.96% and a negative return on equity of 3.60%. The company had revenue of $240.30 million during the quarter, compared to the consensus estimate of $244.60 million. IREN’s revenue for the quarter was up 28.3% on a year-over-year basis. Equities research analysts forecast that IREN Limited will post 0.43 earnings per share for the current fiscal 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.