Sanctuary Advisors LLC Boosts Stock Position in IREN Limited $IREN

Sanctuary Advisors LLC boosted its holdings in shares of IREN Limited (NASDAQ:IREN) by 282.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,224 shares of the company’s stock after acquiring an additional 34,129 shares during the quarter. Sanctuary Advisors LLC’s holdings in IREN were worth $1,746,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Concurrent Investment Advisors LLC lifted its holdings in shares of IREN by 103.8% in the 4th quarter. Concurrent Investment Advisors LLC now owns 17,743 shares of the company’s stock worth $670,000 after buying an additional 9,038 shares during the period. Kercheville Advisors LLC purchased a new stake in shares of IREN in the 4th quarter worth $159,000. Dupree Financial Group LLC purchased a new stake in shares of IREN in the 4th quarter worth $741,000. Rakuten Securities Inc. purchased a new stake in shares of IREN in the 4th quarter worth $1,730,000. Finally, Chicago Partners Investment Group LLC lifted its holdings in shares of IREN by 11.5% in the 4th quarter. Chicago Partners Investment Group LLC now owns 76,182 shares of the company’s stock worth $2,877,000 after buying an additional 7,839 shares during the period. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IREN has been the subject of several research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $70.00 target price on shares of IREN in a report on Tuesday, February 10th. Cantor Fitzgerald lowered their target price on IREN to $61.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Freedom Capital upgraded IREN to a “hold” rating in a report on Wednesday, April 1st. HC Wainwright upgraded IREN from a “sell” rating to a “buy” rating and set a $80.00 target price for the company in a report on Tuesday, January 13th. Finally, Weiss Ratings cut IREN from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 22nd. Thirteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.08.

IREN Stock Performance

IREN opened at $45.66 on Monday. The firm has a market cap of $15.17 billion, a price-to-earnings ratio of 34.33 and a beta of 4.17. The company has a current ratio of 4.96, a quick ratio of 4.96 and a debt-to-equity ratio of 1.51. IREN Limited has a 12 month low of $6.01 and a 12 month high of $76.87. The stock has a fifty day moving average price of $41.70 and a 200-day moving average price of $46.84.

IREN (NASDAQ:IREN) last released its quarterly earnings results on Thursday, February 5th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.37). The company had revenue of $184.69 million during the quarter, compared to the consensus estimate of $229.64 million. IREN had a negative return on equity of 10.01% and a net margin of 56.59%.IREN’s revenue for the quarter was down 23.1% on a year-over-year basis. As a group, equities research analysts anticipate that IREN Limited will post -0.8 earnings per share for the current fiscal 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.