Alpine Fox Capital LLC Buys New Holdings in IREN Limited $IREN

Alpine Fox Capital LLC purchased a new position in IREN Limited (NASDAQ:IREN) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 750,461 shares of the company’s stock, valued at approximately $35,219,000. IREN makes up about 14.7% of Alpine Fox Capital LLC’s investment portfolio, making the stock its 3rd largest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IREN. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of IREN during the third quarter valued at approximately $1,854,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of IREN by 88.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 115,230 shares of the company’s stock worth $5,408,000 after acquiring an additional 53,982 shares during the last quarter. Meridian Wealth Management LLC bought a new position in shares of IREN during the third quarter worth $2,995,000. Hood River Capital Management LLC purchased a new position in IREN during the second quarter valued at $74,228,000. Finally, Beryl Capital Management LLC purchased a new position in IREN during the second quarter valued at $5,828,000. 41.08% of the stock is currently owned by institutional investors.

IREN Price Performance

IREN stock opened at $41.58 on Friday. IREN Limited has a 52-week low of $5.13 and a 52-week high of $76.87. The company has a quick ratio of 4.96, a current ratio of 4.96 and a debt-to-equity ratio of 1.51. The firm’s fifty day moving average is $46.70 and its 200 day moving average is $46.65. The company has a market cap of $13.82 billion, a price-to-earnings ratio of 31.26 and a beta of 4.31.

IREN (NASDAQ:IREN) last issued its quarterly earnings data on Thursday, February 5th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.37). IREN had a negative return on equity of 10.01% and a net margin of 56.59%.The business had revenue of $184.69 million during the quarter, compared to analysts’ expectations of $229.64 million. IREN’s quarterly revenue was down 23.1% on a year-over-year basis. Sell-side analysts forecast that IREN Limited will post 0.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on IREN shares. The Goldman Sachs Group assumed coverage on shares of IREN in a research note on Thursday, December 18th. They issued a “neutral” rating and a $39.00 price target on the stock. HC Wainwright upgraded IREN from a “sell” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Tuesday, January 13th. JPMorgan Chase & Co. lifted their target price on IREN from $28.00 to $39.00 and gave the stock an “underweight” rating in a report on Monday, November 24th. Canaccord Genuity Group reiterated a “buy” rating and issued a $70.00 target price on shares of IREN in a research report on Tuesday, February 10th. Finally, B. Riley Financial reissued a “buy” rating on shares of IREN in a research note on Friday, February 6th. Thirteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.69.

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.