35,300 Shares in IREN Limited $IREN Bought by Polianta Ltd

Polianta Ltd purchased a new position in IREN Limited (NASDAQ:IREN) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 35,300 shares of the company’s stock, valued at approximately $1,210,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marex Group plc grew its stake in IREN by 14,216.7% in the fourth quarter. Marex Group plc now owns 4,471,263 shares of the company’s stock valued at $168,880,000 after acquiring an additional 4,440,032 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of IREN during the fourth quarter valued at approximately $158,677,000. Clear Street Group Inc. acquired a new position in shares of IREN during the fourth quarter worth approximately $137,075,000. Situational Awareness LP raised its position in shares of IREN by 90.1% during the second quarter. Situational Awareness LP now owns 6,400,384 shares of the company’s stock worth $93,254,000 after purchasing an additional 3,034,254 shares during the period. Finally, Quadrature Capital Ltd lifted its holdings in shares of IREN by 1,022.2% in the 4th quarter. Quadrature Capital Ltd now owns 2,870,637 shares of the company’s stock worth $108,424,000 after purchasing an additional 2,614,835 shares in the last quarter. 41.08% of the stock is owned by institutional investors.

IREN Stock Performance

Shares of IREN stock opened at $59.96 on Friday. The company has a market cap of $21.43 billion, a PE ratio of 124.92 and a beta of 4.22. IREN Limited has a 52 week low of $9.82 and a 52 week high of $76.87. The business has a 50 day moving average price of $54.40 and a 200-day moving average price of $47.38. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44.

IREN (NASDAQ:IREN) last posted its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The company had revenue of $144.79 million during the quarter, compared to the consensus estimate of $219.69 million. IREN had a net margin of 20.90% and a negative return on equity of 13.13%. Equities analysts anticipate that IREN Limited will post -1.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of IREN from $70.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Jefferies Financial Group assumed coverage on shares of IREN in a report on Thursday. They set a “buy” rating and a $79.00 price objective on the stock. Freedom Capital raised shares of IREN to a “hold” rating in a research note on Wednesday, April 1st. Weiss Ratings raised shares of IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Finally, Sanford C. Bernstein set a $96.00 price objective on shares of IREN in a report on Thursday, June 4th. Fourteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.36.

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.