29,286 Shares in IREN Limited $IREN Acquired by Clearline Capital LP

by · The Markets Daily

Clearline Capital LP acquired a new position in IREN Limited (NASDAQ:IREN – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,286 shares of the company’s stock, valued at approximately $178,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in IREN in the first quarter worth approximately $39,000. Quarry LP acquired a new position in IREN during the first quarter valued at approximately $40,000. Main Management LLC acquired a new position in IREN during the fourth quarter valued at approximately $49,000. Delta Financial Group Inc. acquired a new position in IREN during the first quarter valued at approximately $61,000. Finally, R Squared Ltd grew its holdings in IREN by 170.1% during the first quarter. R Squared Ltd now owns 10,290 shares of the company’s stock valued at $63,000 after purchasing an additional 6,480 shares during the last quarter. Institutional investors and hedge funds own 41.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on IREN shares. HC Wainwright increased their price target on IREN from $21.00 to $36.00 and gave the company a “buy” rating in a report on Friday, August 29th. Roth Capital reiterated a “buy” rating and set a $35.00 price target on shares of IREN in a report on Friday, August 29th. Jones Trading downgraded IREN from a “buy” rating to a “hold” rating in a report on Tuesday, September 2nd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $16.00 price target (up previously from $12.00) on shares of IREN in a report on Monday, July 28th. Finally, Macquarie increased their price target on IREN from $20.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, IREN currently has an average rating of “Moderate Buy” and an average target price of $30.44.

View Our Latest Research Report on IREN

IREN Trading Up 0.1%

Shares of IREN stock opened at $26.15 on Monday. The company’s fifty day simple moving average is $19.14 and its 200-day simple moving average is $11.79. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 44.32 and a beta of 4.03. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 0.53. IREN Limited has a 1 year low of $5.13 and a 1 year high of $30.01.

IREN (NASDAQ:IREN – Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $187.30 million for the quarter, compared to the consensus estimate of $187.51 million. IREN had a net margin of 33.03% and a return on equity of 1.34%. As a group, sell-side analysts expect that IREN Limited will post 0.43 EPS for the current year.

IREN Profile

(Free Report)

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.

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