HighTower Advisors LLC Purchases New Stake in IREN Limited $IREN

HighTower Advisors LLC purchased a new stake in shares of IREN Limited (NASDAQ:IREN) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 54,010 shares of the company’s stock, valued at approximately $2,535,000.

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

IREN Stock Performance

IREN opened at $40.95 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.96 and a current ratio of 4.96. IREN Limited has a 52-week low of $5.13 and a 52-week high of $76.87. The firm has a market cap of $13.61 billion, a P/E ratio of 30.79 and a beta of 4.27. The business’s fifty day moving average is $46.73 and its 200-day moving average is $45.06.

IREN (NASDAQ:IREN) last posted its quarterly earnings results on Thursday, February 5th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.37). IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The company had revenue of $184.69 million during the quarter, compared to analyst estimates of $229.64 million. The firm’s revenue was down 23.1% compared to the same quarter last year. Sell-side analysts expect that IREN Limited will post 0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IREN has been the topic of a number of recent research reports. The Goldman Sachs Group began coverage on IREN in a research note on Thursday, December 18th. They set a “neutral” rating and a $39.00 target price on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $70.00 price objective on shares of IREN in a report on Tuesday, February 10th. Weiss Ratings cut IREN from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. B. Riley Financial reissued a “buy” rating on shares of IREN in a research report on Friday, February 6th. Finally, UBS Group restated a “buy” rating on shares of IREN in a research note on Friday, November 7th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, IREN presently has an average rating of “Moderate Buy” and a consensus price target of $71.69.

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.