IREN Limited $IREN Stake Lessened by CloudAlpha Capital Management Limited Hong Kong

CloudAlpha Capital Management Limited Hong Kong reduced its stake in shares of IREN Limited (NASDAQ:IREN) by 68.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,268 shares of the company’s stock after selling 143,732 shares during the period. CloudAlpha Capital Management Limited Hong Kong’s holdings in IREN were worth $3,110,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IREN. Global Retirement Partners LLC bought a new position in shares of IREN during the third quarter worth about $25,000. Sherman Asset Management Inc. acquired a new stake in IREN during the third quarter valued at approximately $59,000. Advisors Asset Management Inc. lifted its holdings in IREN by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,528 shares of the company’s stock worth $66,000 after buying an additional 1,839 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new position in shares of IREN in the 3rd quarter worth approximately $74,000. Finally, Foundations Investment Advisors LLC bought a new stake in shares of IREN in the 2nd quarter valued at approximately $146,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

IREN Stock Performance

Shares of NASDAQ IREN opened at $46.15 on Tuesday. IREN Limited has a 12-month low of $5.13 and a 12-month high of $76.87. The company has a current ratio of 4.96, a quick ratio of 4.96 and a debt-to-equity ratio of 1.51. The company has a market cap of $13.08 billion, a PE ratio of 34.70 and a beta of 4.26. The stock has a 50 day simple moving average of $46.44 and a 200-day simple moving average of $42.95.

IREN (NASDAQ:IREN) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.45). The business had revenue of $184.69 million for the quarter, compared to analyst estimates of $229.64 million. IREN had a negative return on equity of 10.01% and a net margin of 56.59%.The company’s revenue was down 23.1% on a year-over-year basis. On average, equities research analysts forecast that IREN Limited will post 0.43 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on IREN. Compass Point restated a “buy” rating and set a $105.00 price objective on shares of IREN in a research note on Friday, November 7th. BTIG Research raised their price target on shares of IREN from $32.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. HC Wainwright raised shares of IREN from a “sell” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Tuesday, January 13th. Zacks Research upgraded IREN from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, UBS Group reiterated a “buy” rating on shares of IREN in a research report on Friday, November 7th. Thirteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, IREN currently has a consensus rating of “Moderate Buy” and an average price target of $72.29.

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.