Stratos Wealth Advisors LLC Cuts Holdings in IREN Limited $IREN

Stratos Wealth Advisors LLC lowered its position in IREN Limited (NASDAQ:IREN) by 3.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,318 shares of the company’s stock after selling 2,715 shares during the period. Stratos Wealth Advisors LLC’s holdings in IREN were worth $1,068,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of IREN. Aurelius Capital Management LP purchased a new position in shares of IREN in the 1st quarter valued at about $311,000. Balefire LLC acquired a new stake in IREN in the second quarter valued at approximately $1,214,000. Maridea Wealth Management LLC increased its position in shares of IREN by 57.1% in the first quarter. Maridea Wealth Management LLC now owns 320,167 shares of the company’s stock valued at $1,950,000 after buying an additional 116,408 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new position in shares of IREN during the 2nd quarter worth approximately $4,808,000. Finally, Farther Finance Advisors LLC lifted its position in shares of IREN by 59.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 25,038 shares of the company’s stock valued at $365,000 after buying an additional 9,384 shares in the last quarter. 41.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other IREN news, CEO Daniel John Roberts sold 1,000,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer owned 13,989,696 shares of the company’s stock, valued at approximately $463,478,628.48. The trade was a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.02% of the company’s stock.

IREN Stock Performance

NASDAQ:IREN opened at $60.72 on Friday. The company has a market cap of $16.51 billion, a P/E ratio of 102.92 and a beta of 4.19. IREN Limited has a twelve month low of $5.13 and a twelve month high of $74.15. The company’s 50-day moving average price is $37.47 and its 200-day moving average price is $20.11. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 0.53.

IREN (NASDAQ:IREN) last released its quarterly earnings data on Thursday, August 28th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $187.30 million during the quarter, compared to the consensus estimate of $187.51 million. IREN had a net margin of 33.03% and a return on equity of 1.34%. On average, sell-side analysts forecast that IREN Limited will post 0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on IREN. Jones Trading lowered shares of IREN from a “buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Wall Street Zen raised shares of IREN from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Macquarie upped their price target on shares of IREN from $33.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Cantor Fitzgerald lifted their price objective on IREN from $27.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. Finally, Compass Point initiated coverage on IREN in a research note on Monday, September 15th. They set a “buy” rating for the company. Eleven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, IREN has a consensus rating of “Moderate Buy” and a consensus price target of $51.64.

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.