W.G. Shaheen & Associates DBA Whitney & Co Takes Position in IREN Limited $IREN

W.G. Shaheen & Associates DBA Whitney & Co acquired a new position in shares of IREN Limited (NASDAQ:IREN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,180 shares of the company’s stock, valued at approximately $687,000.

Other hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new position in shares of IREN during the third quarter worth about $25,000. Miller Wealth Advisors LLC raised its position in shares of IREN by 240.0% during the fourth 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. Aventura Private Wealth LLC bought a new stake in IREN in the fourth quarter worth approximately $28,000. Albion Financial Group UT bought a new stake in IREN in the fourth quarter worth approximately $38,000. Finally, Allianz SE bought a new stake in IREN in the third quarter worth approximately $57,000. 41.08% of the stock is currently owned by institutional investors.

IREN Stock Down 3.6%

IREN stock opened at $42.86 on Thursday. The stock has a market cap of $14.24 billion, a P/E ratio of 32.23 and a beta of 4.30. The stock’s fifty day simple moving average is $41.65 and its two-hundred day simple moving average is $47.13. 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 1-year low of $5.72 and a 1-year high of $76.87.

IREN (NASDAQ:IREN) last issued its earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.37). The firm had revenue of $184.69 million during the quarter, compared to the consensus estimate of $229.64 million. IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The business’s revenue was down 23.1% compared to the same quarter last year. Analysts expect that IREN Limited will post -0.8 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IREN. Weiss Ratings cut IREN from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 22nd. Canaccord Genuity Group reissued a “buy” rating and issued a $70.00 price objective on shares of IREN in a research report on Tuesday, February 10th. HC Wainwright raised IREN from a “sell” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Tuesday, January 13th. B. Riley Financial reissued a “buy” rating on shares of IREN in a research report on Friday, February 6th. Finally, Cantor Fitzgerald cut their price objective on IREN to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Thirteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.08.

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.