JW Asset Management LLC Takes Position in IREN Limited $IREN

JW Asset Management LLC purchased a new stake in shares of IREN Limited (NASDAQ:IREN) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 164,650 shares of the company’s stock, valued at approximately $6,219,000. IREN comprises approximately 2.0% of JW Asset Management LLC’s portfolio, making the stock its 7th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Miller Wealth Advisors LLC boosted its position in shares of IREN by 240.0% during the 4th quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock valued at $26,000 after acquiring an additional 480 shares during the last quarter. North Star Investment Management Corp. acquired a new position in shares of IREN during the 4th quarter valued at about $26,000. Aventura Private Wealth LLC acquired a new position in shares of IREN during the 4th quarter valued at about $28,000. Motco acquired a new position in shares of IREN during the 4th quarter valued at about $30,000. Finally, Albion Financial Group UT acquired a new position in shares of IREN during the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald lowered their price target on shares of IREN to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $70.00 target price on shares of IREN in a research report on Tuesday, February 10th. BTIG Research upped their target price on shares of IREN to $80.00 and gave the company a “buy” rating in a research report on Friday, May 8th. HC Wainwright upped their target price on shares of IREN to $85.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Weiss Ratings cut shares of IREN from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 22nd. Thirteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.77.

IREN Trading Up 10.1%

NASDAQ IREN opened at $58.06 on Friday. The firm’s 50-day moving average is $45.42 and its two-hundred day moving average is $46.41. IREN Limited has a 12 month low of $8.28 and a 12 month high of $76.87. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72. The stock has a market capitalization of $20.75 billion, a P/E ratio of 120.96 and a beta of 4.17.

IREN (NASDAQ:IREN) last posted its earnings results on Friday, May 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). IREN had a net margin of 20.90% and a negative return on equity of 13.13%. The company had revenue of $144.80 million during the quarter, compared to analyst estimates of $219.69 million. On average, sell-side analysts anticipate that IREN Limited will post -1.09 earnings per share for the current 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.