Evolution Wealth Advisors LLC Has $1.87 Million Stock Holdings in IREN Limited $IREN

Evolution Wealth Advisors LLC boosted its position in shares of IREN Limited (NASDAQ:IREN) by 66.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 128,550 shares of the company’s stock after purchasing an additional 51,330 shares during the quarter. Evolution Wealth Advisors LLC owned 0.07% of IREN worth $1,873,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Situational Awareness LP bought a new position in shares of IREN during the first quarter worth $20,500,000. Allianz Asset Management GmbH bought a new position in IREN during the second quarter worth about $10,743,000. Trexquant Investment LP lifted its holdings in IREN by 158.6% during the first quarter. Trexquant Investment LP now owns 1,038,220 shares of the company’s stock worth $6,323,000 after acquiring an additional 636,767 shares in the last quarter. Private Advisor Group LLC grew its stake in IREN by 4,075.5% in the first quarter. Private Advisor Group LLC now owns 508,118 shares of the company’s stock valued at $3,094,000 after acquiring an additional 495,949 shares during the period. Finally, Mizuho Markets Americas LLC increased its holdings in shares of IREN by 1,832.5% in the first quarter. Mizuho Markets Americas LLC now owns 502,459 shares of the company’s stock worth $3,060,000 after acquiring an additional 476,459 shares in the last quarter. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. B. Riley reiterated a “buy” rating on shares of IREN in a report on Wednesday, October 22nd. Jones Trading lowered shares of IREN from a “buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. Canaccord Genuity Group increased their price objective on shares of IREN from $42.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday. Sanford C. Bernstein restated an “outperform” rating and set a $75.00 price objective on shares of IREN in a report on Thursday, September 25th. Finally, UBS Group reaffirmed a “buy” rating on shares of IREN in a research report on Friday, November 7th. Eleven research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.58.

Insider Activity

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

IREN Price Performance

NASDAQ IREN opened at $48.65 on Friday. The firm’s 50 day moving average is $52.14 and its 200-day moving average is $27.36. The company has a quick ratio of 5.52, a current ratio of 5.52 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $13.23 billion, a PE ratio of 25.08 and a beta of 4.21. IREN Limited has a 12-month low of $5.13 and a 12-month high of $76.87.

IREN (NASDAQ:IREN) last released its earnings results on Thursday, August 28th. The company reported $0.19 earnings per share 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 business had revenue of $187.30 million during the quarter, compared to the consensus estimate of $187.51 million. Equities research analysts anticipate that IREN Limited will post 0.43 earnings per share 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.