164,650 Shares in IREN Limited $IREN Bought by JW Asset Management LLC

JW Asset Management LLC purchased a new position in IREN Limited (NASDAQ:IREN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 164,650 shares of the company’s stock, valued at approximately $6,219,000. IREN makes up about 2.0% of JW Asset Management LLC’s portfolio, making the stock its 7th biggest holding. JW Asset Management LLC owned approximately 0.06% of IREN at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in IREN in the 3rd quarter worth $1,854,000. Wealth Enhancement Advisory Services LLC increased its holdings in IREN by 88.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 115,230 shares of the company’s stock worth $5,408,000 after acquiring an additional 53,982 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in IREN in the 3rd quarter worth $2,995,000. Oppenheimer & Co. Inc. increased its holdings in IREN by 257.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 26,958 shares of the company’s stock worth $1,018,000 after acquiring an additional 19,423 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in IREN by 282.2% in the 4th quarter. Sanctuary Advisors LLC now owns 46,224 shares of the company’s stock worth $1,746,000 after acquiring an additional 34,129 shares in the last quarter. Hedge funds and other institutional investors own 41.08% of the company’s stock.

IREN Price Performance

IREN stock opened at $58.06 on Friday. IREN Limited has a 52-week low of $8.28 and a 52-week high of $76.87. The firm has a market capitalization of $20.75 billion, a price-to-earnings ratio of 120.96 and a beta of 4.17. The company has a fifty day simple moving average of $45.42 and a 200-day simple moving average of $46.41. The company has a quick ratio of 3.72, a current 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 analysts’ consensus estimates of ($0.22) by ($0.03). IREN had a negative return on equity of 13.13% and a net margin of 20.90%.The business had revenue of $144.80 million for the quarter, compared to analysts’ expectations of $219.69 million. On average, equities analysts anticipate that IREN Limited will post -1.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IREN has been the subject of several recent analyst reports. Wall Street Zen lowered shares of IREN from a “hold” rating to a “strong sell” rating in a report on Saturday, February 7th. HC Wainwright upped their target price on shares of IREN to $85.00 and gave the stock a “buy” rating in a report on Friday, May 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $44.00 target price on shares of IREN in a report on Friday, May 8th. BTIG Research upped their target price on shares of IREN to $80.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Weiss Ratings lowered shares of IREN from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 22nd. Thirteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.77.

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.