Polianta Ltd Makes New $1.21 Million Investment in IREN Limited $IREN

Polianta Ltd bought a new position in IREN Limited (NASDAQ:IREN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,300 shares of the company’s stock, valued at approximately $1,210,000.

A number of other hedge funds also recently made changes to their positions in the stock. Miller Wealth Advisors LLC grew its position in IREN by 240.0% during the 4th quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock worth $26,000 after acquiring an additional 480 shares during the last quarter. North Star Investment Management Corp. acquired a new stake in IREN during the 4th quarter worth approximately $26,000. Clearstead Trust LLC bought a new stake in IREN during the 4th quarter worth approximately $27,000. Aventura Private Wealth LLC bought a new stake in IREN during the 4th quarter worth approximately $28,000. Finally, Motco acquired a new position in IREN in the 4th quarter valued at approximately $30,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on IREN. Canaccord Genuity Group raised their price target on shares of IREN from $70.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Freedom Capital raised shares of IREN to a “hold” rating in a research note on Wednesday, April 1st. Weiss Ratings upgraded IREN from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. HC Wainwright increased their price objective on IREN to $85.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, BTIG Research raised their target price on IREN to $80.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Fourteen research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.36.

IREN Price Performance

Shares of NASDAQ:IREN opened at $59.96 on Friday. IREN Limited has a 1 year low of $9.82 and a 1 year high of $76.87. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72. The business’s 50-day moving average is $54.40 and its 200-day moving average is $47.38. The company has a market capitalization of $21.43 billion, a price-to-earnings ratio of 124.92 and a beta of 4.22.

IREN (NASDAQ:IREN) last released its earnings results on Friday, May 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The business had revenue of $144.79 million for the quarter, compared to analyst estimates of $219.69 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%. Equities research analysts predict that IREN Limited will post -1.25 earnings per share for the current year.

About IREN

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.