IREN Limited $IREN Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its holdings in IREN Limited (NASDAQ:IREN) by 24.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,734 shares of the company’s stock after selling 19,424 shares during the quarter. First Trust Advisors LP’s holdings in IREN were worth $2,082,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in IREN. North Star Investment Management Corp. purchased a new stake in IREN during the fourth quarter valued at about $26,000. Clearstead Trust LLC acquired a new stake in shares of IREN in the fourth quarter valued at about $27,000. Motco purchased a new stake in shares of IREN during the 4th quarter valued at about $30,000. Purpose Unlimited Inc. purchased a new stake in shares of IREN during the 4th quarter valued at about $34,000. Finally, Arax Advisory Partners lifted its position in IREN by 306.2% during the 4th quarter. Arax Advisory Partners now owns 979 shares of the company’s stock worth $37,000 after acquiring an additional 738 shares in the last quarter. 41.08% of the stock is owned by hedge funds and other institutional investors.

IREN Stock Performance

IREN stock opened at $41.23 on Friday. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44. The firm has a market cap of $14.73 billion, a P/E ratio of 85.90 and a beta of 4.29. IREN Limited has a 12-month low of $17.22 and a 12-month high of $76.87. The stock’s 50 day simple moving average is $46.59 and its 200 day simple moving average is $46.74.

IREN (NASDAQ:IREN) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). IREN had a negative return on equity of 13.13% and a net margin of 20.90%.The business had revenue of $144.79 million during the quarter, compared to analyst estimates of $219.69 million. As a group, equities research analysts predict that IREN Limited will post -1.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IREN. Needham & Company LLC restated a “hold” rating on shares of IREN in a report on Tuesday, July 21st. B. Riley Financial lifted their price objective on shares of IREN from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. The Goldman Sachs Group reissued a “neutral” rating on shares of IREN in a research report on Monday, July 20th. Sanford C. Bernstein set a $96.00 target price on shares of IREN in a research note on Thursday, June 4th. Finally, Compass Point reaffirmed a “buy” rating on shares of IREN in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.71.

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.