Healthcare of Ontario Pension Plan Trust Fund Makes New $25.50 Million Investment in IREN Limited $IREN

Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of IREN Limited (NASDAQ:IREN) during the fourth quarter, HoldingsChannel reports. The fund bought 675,000 shares of the company’s stock, valued at approximately $25,495,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Miller Wealth Advisors LLC grew its stake in shares of 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 buying an additional 480 shares during the last quarter. North Star Investment Management Corp. bought a new stake in shares of IREN in the fourth quarter worth $26,000. Clearstead Trust LLC bought a new stake in shares of IREN in the fourth quarter worth $27,000. Aventura Private Wealth LLC bought a new stake in shares of IREN in the fourth quarter worth $28,000. Finally, Motco bought a new stake in shares of IREN in the fourth quarter worth $30,000. Institutional investors own 41.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on IREN. JPMorgan Chase & Co. boosted their price objective on shares of IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a research note on Monday, May 11th. Weiss Ratings raised shares of IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Sanford C. Bernstein set a $96.00 price objective on shares of IREN in a research note on Thursday, June 4th. The Goldman Sachs Group set a $50.00 price objective on shares of IREN in a research note on Wednesday, May 27th. Finally, Freedom Capital raised shares of IREN to a “hold” rating in a research note on Wednesday, April 1st. Thirteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.62.

IREN Price Performance

IREN stock opened at $60.85 on Tuesday. The firm has a market cap of $21.75 billion, a price-to-earnings ratio of 126.77 and a beta of 4.22. 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 Limited has a 12-month low of $9.52 and a 12-month high of $76.87. The company’s fifty day simple moving average is $52.51 and its 200 day simple moving average is $47.06.

IREN (NASDAQ:IREN) last released its 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 firm had revenue of $144.80 million during the quarter, compared to analyst estimates of $219.69 million. IREN had a net margin of 20.90% and a negative return on equity of 13.13%. On average, analysts expect that IREN Limited will post -1.25 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.