Fortis Group Advisors LLC Buys Shares of 13,690 IREN Limited $IREN

Fortis Group Advisors LLC bought a new stake in shares of IREN Limited (NASDAQ:IREN) during the 4th quarter, Holdings Channel reports. The firm bought 13,690 shares of the company’s stock, valued at approximately $517,000.

Several other hedge funds and other institutional investors have also bought and sold shares of IREN. Miller Wealth Advisors LLC lifted its stake in IREN by 240.0% during the 4th quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock valued at $26,000 after acquiring an additional 480 shares during the period. North Star Investment Management Corp. bought a new position in shares of IREN in the 4th quarter worth approximately $26,000. Aventura Private Wealth LLC bought a new position in shares of IREN in the 4th quarter worth approximately $28,000. Motco bought a new position in shares of IREN in the 4th quarter worth approximately $30,000. Finally, Albion Financial Group UT bought a new position in shares of IREN in the 4th quarter worth approximately $38,000. Institutional investors own 41.08% of the company’s stock.

Analysts Set New Price Targets

IREN has been the topic of several recent research reports. HC Wainwright increased their price objective on shares of IREN to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. BTIG Research increased their price objective on shares of IREN to $80.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Cantor Fitzgerald lowered their price objective on shares of IREN to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. B. Riley Financial reiterated a “buy” rating on shares of IREN in a research note on Friday, February 6th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $70.00 price objective on shares of IREN in a research note on Tuesday, February 10th. Thirteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.77.

IREN Trading Up 10.1%

IREN stock opened at $58.06 on Friday. The firm has a 50 day moving average of $45.42 and a 200 day moving average of $46.41. The firm has a market capitalization of $20.75 billion, a price-to-earnings ratio of 120.96 and a beta of 4.17. IREN Limited has a 12-month low of $8.28 and a 12-month high of $76.87. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44.

IREN (NASDAQ:IREN) last released its earnings results 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 firm had revenue of $144.80 million during the quarter, compared to analysts’ expectations of $219.69 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%. As a group, research analysts predict that IREN Limited will post -1.09 earnings per share for the current year.

IREN Company 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.