J.W. Cole Advisors Inc. Sells 65,380 Shares of IREN Limited $IREN

J.W. Cole Advisors Inc. lowered its stake in shares of IREN Limited (NASDAQ:IREN) by 60.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,596 shares of the company’s stock after selling 65,380 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in IREN were worth $1,609,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Miller Wealth Advisors LLC increased its position in IREN by 240.0% during the fourth quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock worth $26,000 after acquiring an additional 480 shares during the period. North Star Investment Management Corp. bought a new stake in IREN in the 4th quarter valued at $26,000. Clearstead Trust LLC bought a new stake in IREN in the 4th quarter valued at $27,000. Aventura Private Wealth LLC bought a new stake in IREN in the 4th quarter valued at $28,000. Finally, Motco bought a new stake in IREN in the 4th quarter valued at $30,000. Institutional investors own 41.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. HC Wainwright boosted their price target on shares of IREN to $85.00 and gave the company a “buy” rating in a report on Friday, May 8th. Sanford C. Bernstein set a $96.00 price target on shares of IREN in a report on Thursday. Canaccord Genuity Group boosted their price target on shares of IREN from $70.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. The Goldman Sachs Group set a $50.00 price target on shares of IREN in a report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. boosted their price target on shares of IREN from $39.00 to $46.00 and gave the company an “underweight” rating in a report on Monday, May 11th. Thirteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, IREN presently has an average rating of “Moderate Buy” and an average target price of $82.62.

IREN Stock Up 8.9%

Shares of NASDAQ:IREN opened at $59.19 on Tuesday. The company’s fifty day moving average is $50.25 and its 200-day moving average is $46.67. The company has a market capitalization of $21.15 billion, a PE ratio of 123.31 and a beta of 4.22. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72. IREN Limited has a 52 week low of $9.52 and a 52 week high of $76.87.

IREN (NASDAQ:IREN) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The company had revenue of $144.80 million for the quarter, compared to analyst estimates of $219.69 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%. Equities research analysts predict that IREN Limited will post -1.17 earnings per share 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.