R Squared Ltd Takes $668,000 Position in IREN Limited $IREN

R Squared Ltd acquired a new stake in IREN Limited (NASDAQ:IREN) in the 3rd quarter, Holdings Channel reports. The fund acquired 14,231 shares of the company’s stock, valued at approximately $668,000.

Several other large investors also recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new position in shares of IREN in the third quarter worth $25,000. Sherman Asset Management Inc. purchased a new stake in shares of IREN during the third quarter valued at $59,000. Vermillion Wealth Management Inc. acquired a new position in shares of IREN in the 3rd quarter valued at $74,000. Avalon Trust Co acquired a new position in shares of IREN in the 3rd quarter valued at $115,000. Finally, CWM LLC purchased a new position in IREN in the 3rd quarter worth $165,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. UBS Group reiterated a “buy” rating on shares of IREN in a research note on Friday, November 7th. Roth Mkm set a $94.00 target price on IREN and gave the stock a “buy” rating in a report on Monday, November 3rd. B. Riley Financial reiterated a “buy” rating on shares of IREN in a research report on Friday, February 6th. Zacks Research raised shares of IREN from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 16th. Finally, Weiss Ratings downgraded shares of IREN from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $71.69.

IREN Trading Up 0.5%

IREN stock opened at $44.24 on Friday. 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 Limited has a 52-week low of $5.13 and a 52-week high of $76.87. The company’s 50-day simple moving average is $46.71 and its 200-day simple moving average is $44.90. The firm has a market cap of $14.70 billion, a P/E ratio of 33.26 and a beta of 4.27.

IREN (NASDAQ:IREN) last announced its earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $229.64 million. The firm’s revenue for the quarter was down 23.1% on a year-over-year basis. As a group, equities analysts forecast that IREN Limited will post 0.43 EPS for the current fiscal year.

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.