Verus Capital Partners LLC Takes $619,000 Position in IREN Limited $IREN

Verus Capital Partners LLC purchased a new stake in IREN Limited (NASDAQ:IREN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 13,200 shares of the company’s stock, valued at approximately $619,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IREN. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of IREN during the 3rd quarter valued at $1,854,000. Y Intercept Hong Kong Ltd bought a new stake in IREN in the second quarter worth $6,877,000. Wealth Enhancement Advisory Services LLC increased its position in 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 buying an additional 53,982 shares during the last quarter. Meridian Wealth Management LLC bought a new position in IREN during the third quarter valued at about $2,995,000. Finally, X Square Capital LLC lifted its position in shares of IREN by 129.9% in the second quarter. X Square Capital LLC now owns 435,951 shares of the company’s stock worth $6,352,000 after buying an additional 246,333 shares during the last quarter. Institutional investors own 41.08% of the company’s stock.

IREN Stock Performance

Shares of NASDAQ IREN opened at $42.36 on Tuesday. IREN Limited has a 12 month low of $5.13 and a 12 month high of $76.87. The company has a market cap of $14.08 billion, a P/E ratio of 31.85 and a beta of 4.26. The business’s 50 day moving average is $46.16 and its two-hundred day moving average is $44.72. The company has a quick ratio of 4.96, a current ratio of 4.96 and a debt-to-equity ratio of 1.51.

IREN (NASDAQ:IREN) last announced its quarterly earnings data on Thursday, February 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.37). The company had revenue of $184.69 million during 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 business’s revenue for the quarter was down 23.1% compared to the same quarter last year. On average, equities analysts expect that IREN Limited will post 0.43 EPS for the current year.

Analyst Ratings Changes

IREN has been the topic of a number of analyst reports. UBS Group reissued a “buy” rating on shares of IREN in a report on Friday, November 7th. Cantor Fitzgerald decreased their target price on IREN to $82.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Roth Mkm set a $94.00 price target on shares of IREN and gave the company a “buy” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of IREN in a research note on Monday, December 29th. Finally, Citigroup began coverage on shares of IREN in a research note on Wednesday, November 19th. They issued an “outperform” rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.69.

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.