IREN Limited $IREN Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in shares of IREN Limited (NASDAQ:IREN) by 152.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,020 shares of the company’s stock after purchasing an additional 26,550 shares during the quarter. Envestnet Asset Management Inc.’s holdings in IREN were worth $2,066,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IREN. Global Retirement Partners LLC purchased a new position in shares of IREN during the 3rd quarter valued at approximately $25,000. SLT Holdings LLC lifted its stake in IREN by 6.0% in the 3rd quarter. SLT Holdings LLC now owns 10,600 shares of the company’s stock worth $497,000 after purchasing an additional 600 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in IREN by 5.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 22,393 shares of the company’s stock worth $1,051,000 after buying an additional 1,233 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new position in IREN during the third quarter worth $74,000. Finally, Centaurus Financial Inc. grew its holdings in IREN by 5.3% in the 2nd quarter. Centaurus Financial Inc. now owns 31,150 shares of the company’s stock valued at $454,000 after buying an additional 1,570 shares in the last quarter. Hedge funds and other institutional investors own 41.08% of the company’s stock.

IREN Stock Down 7.4%

Shares of NASDAQ IREN opened at $40.95 on Friday. The business has a 50-day moving average of $46.73 and a two-hundred day moving average of $45.06. The company has a market capitalization of $13.61 billion, a price-to-earnings ratio of 30.79 and a beta of 4.27. IREN Limited has a 1 year low of $5.13 and a 1 year high of $76.87. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.96 and a quick ratio of 4.96.

IREN (NASDAQ:IREN) last issued its earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share 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 analyst estimates of $229.64 million. IREN had a negative return on equity of 10.01% and a net margin of 56.59%.IREN’s revenue was down 23.1% on a year-over-year basis. On average, analysts forecast that IREN Limited will post 0.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IREN shares. The Goldman Sachs Group assumed coverage on shares of IREN in a research note on Thursday, December 18th. They issued a “neutral” rating and a $39.00 price target for the company. Canaccord Genuity Group restated a “buy” rating and set a $70.00 price target on shares of IREN in a research note on Tuesday, February 10th. Cantor Fitzgerald lowered their price objective on shares of IREN to $82.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. UBS Group reiterated a “buy” rating on shares of IREN in a report on Friday, November 7th. Finally, Compass Point restated a “buy” rating and set a $105.00 price target on shares of IREN in a report on Friday, November 7th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.69.

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.