Main Management ETF Advisors LLC Acquires 1,716 Shares of IREN Limited $IREN

Main Management ETF Advisors LLC grew its holdings in shares of IREN Limited (NASDAQ:IREN) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,528 shares of the company’s stock after acquiring an additional 1,716 shares during the period. Main Management ETF Advisors LLC owned about 0.06% of IREN worth $1,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of IREN. Y Intercept Hong Kong Ltd bought a new stake in IREN during the second quarter valued at about $6,877,000. Aurelius Capital Management LP purchased a new position in shares of IREN during the 1st quarter valued at about $311,000. X Square Capital LLC lifted its position in shares of IREN by 129.9% during the 2nd quarter. X Square Capital LLC now owns 435,951 shares of the company’s stock valued at $6,352,000 after buying an additional 246,333 shares in the last quarter. Balefire LLC bought a new position in shares of IREN during the 2nd quarter valued at approximately $1,214,000. Finally, Hartline Investment Corp purchased a new stake in IREN in the 2nd quarter worth approximately $228,000. 41.08% of the stock is owned by institutional investors.

Insider Activity at IREN

In related news, CEO Daniel John Roberts sold 1,000,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $33.13, for a total value of $33,130,000.00. Following the completion of the transaction, the chief executive officer owned 13,989,696 shares of the company’s stock, valued at approximately $463,478,628.48. This trade represents a 6.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.02% of the company’s stock.

IREN Stock Performance

NASDAQ:IREN opened at $45.83 on Thursday. The stock’s 50 day simple moving average is $53.59 and its two-hundred day simple moving average is $28.65. IREN Limited has a 1 year low of $5.13 and a 1 year high of $76.87. The company has a market cap of $12.99 billion, a price-to-earnings ratio of 23.62 and a beta of 4.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.52 and a quick ratio of 5.52.

IREN (NASDAQ:IREN) last released its quarterly earnings results on Thursday, August 28th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. IREN had a net margin of 86.96% and a negative return on equity of 3.60%. The company had revenue of $187.30 million for the quarter, compared to the consensus estimate of $187.51 million. As a group, equities analysts anticipate that IREN Limited will post 0.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IREN has been the topic of several analyst reports. JMP Securities set a $80.00 price target on shares of IREN in a report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of IREN in a research note on Monday. Compass Point reaffirmed a “buy” rating and issued a $105.00 target price on shares of IREN in a report on Friday, November 7th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $24.00 price target (up from $16.00) on shares of IREN in a report on Friday, September 26th. Finally, Roth Capital set a $94.00 price objective on IREN and gave the company a “buy” rating in a research report on Monday, November 3rd. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, IREN has a consensus rating of “Moderate Buy” and a consensus price target of $69.36.

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.