Chesapeake Capital Corp IL Makes New Investment in IREN Limited $IREN

Chesapeake Capital Corp IL purchased a new stake in IREN Limited (NASDAQ:IREN) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 15,434 shares of the company’s stock, valued at approximately $724,000.

Several other large investors also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of IREN during the 3rd quarter valued at $1,854,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of IREN by 88.1% during the 3rd 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 in the last quarter. Meridian Wealth Management LLC acquired a new position in shares of IREN in the 3rd quarter worth $2,995,000. Hood River Capital Management LLC acquired a new position in shares of IREN in the 2nd quarter worth $74,228,000. Finally, Beryl Capital Management LLC acquired a new stake in shares of IREN during the second quarter worth $5,828,000. Institutional investors own 41.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on IREN. Wall Street Zen lowered IREN from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 7th. HC Wainwright raised IREN from a “sell” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Tuesday, January 13th. Zacks Research upgraded IREN from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. The Goldman Sachs Group assumed coverage on shares of IREN in a research note on Thursday, December 18th. They set a “neutral” rating and a $39.00 price objective for the company. Finally, Citizens Jmp set a $80.00 target price on shares of IREN in a report on Wednesday, November 19th. Thirteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.69.

IREN Stock Performance

Shares of IREN stock opened at $41.58 on Friday. IREN Limited has a 12 month low of $5.13 and a 12 month 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 stock has a market cap of $13.82 billion, a PE ratio of 31.26 and a beta of 4.31. The business has a fifty day simple moving average of $46.70 and a 200-day simple moving average of $46.48.

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). 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. On average, sell-side analysts anticipate that IREN Limited will post 0.43 EPS for the current fiscal year.

IREN 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.