Sunbelt Securities Inc. Acquires 32,602 Shares of IREN Limited $IREN

Sunbelt Securities Inc. lifted its holdings in shares of IREN Limited (NASDAQ:IREN) by 13,040.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,852 shares of the company’s stock after purchasing an additional 32,602 shares during the quarter. Sunbelt Securities Inc.’s holdings in IREN were worth $1,241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Miller Wealth Advisors LLC lifted its stake in shares of IREN by 240.0% in the 4th quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock valued at $26,000 after purchasing an additional 480 shares during the last quarter. North Star Investment Management Corp. acquired a new position in IREN during the fourth quarter worth $26,000. Clearstead Trust LLC acquired a new position in IREN during the fourth quarter worth $27,000. Aventura Private Wealth LLC bought a new position in IREN during the fourth quarter valued at about $28,000. Finally, Motco bought a new position in IREN during the fourth quarter valued at about $30,000. Institutional investors own 41.08% of the company’s stock.

IREN Price Performance

Shares of IREN stock opened at $59.96 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72. The company has a market cap of $21.43 billion, a PE ratio of 124.92 and a beta of 4.22. The firm has a fifty day moving average price of $54.40 and a two-hundred day moving average price of $47.38. IREN Limited has a fifty-two week low of $9.82 and a fifty-two week high of $76.87.

IREN (NASDAQ:IREN) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The company had revenue of $144.79 million for the quarter, compared to the consensus estimate of $219.69 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%. Analysts expect that IREN Limited will post -1.25 EPS for the current year.

Analyst Upgrades and Downgrades

IREN has been the subject of several recent analyst reports. Freedom Capital upgraded IREN to a “hold” rating in a research note on Wednesday, April 1st. Weiss Ratings upgraded IREN from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. BTIG Research boosted their target price on IREN to $80.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Cantor Fitzgerald upped their target price on IREN from $77.00 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, JPMorgan Chase & Co. increased their price target on IREN from $39.00 to $46.00 and gave the company an “underweight” rating in a report on Monday, May 11th. Fourteen 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 stock. According to data from MarketBeat.com, IREN presently has an average rating of “Moderate Buy” and an average target price of $82.36.

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.