Healthcare of Ontario Pension Plan Trust Fund Takes Position in IREN Limited $IREN

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in IREN Limited (NASDAQ:IREN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 675,000 shares of the company’s stock, valued at approximately $25,495,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.20% of IREN at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Miller Wealth Advisors LLC raised its position in shares of IREN by 240.0% in the fourth quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock valued at $26,000 after buying an additional 480 shares in the last quarter. North Star Investment Management Corp. bought a new position in IREN in the fourth quarter valued at approximately $26,000. Clearstead Trust LLC bought a new position in IREN in the fourth quarter valued at approximately $27,000. Aventura Private Wealth LLC bought a new position in IREN in the fourth quarter valued at approximately $28,000. Finally, Motco bought a new position in IREN in the fourth quarter valued at approximately $30,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IREN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of IREN from $39.00 to $46.00 and gave the company an “underweight” rating in a research note on Monday, May 11th. Sanford C. Bernstein set a $96.00 price objective on shares of IREN in a research note on Thursday, June 4th. HC Wainwright lifted their price objective on shares of IREN to $85.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Cantor Fitzgerald lifted their price objective on shares of IREN from $77.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Finally, The Goldman Sachs Group set a $50.00 price objective on shares of IREN in a research note on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.62.

IREN Stock Performance

NASDAQ IREN opened at $60.85 on Tuesday. The firm’s fifty day moving average price is $52.51 and its two-hundred day moving average price is $47.06. The stock has a market cap of $21.75 billion, a PE ratio of 126.77 and a beta of 4.22. IREN Limited has a fifty-two week low of $9.52 and a fifty-two week high of $76.87. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72.

IREN (NASDAQ:IREN) last posted its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The company had revenue of $144.80 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%. On average, equities analysts expect that IREN Limited will post -1.25 EPS for the current fiscal year.

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.