288,920 Shares in IREN Limited $IREN Purchased by Ardmore Road Asset Management LP

Ardmore Road Asset Management LP purchased a new stake in IREN Limited (NASDAQ:IREN) in the second quarter, Holdings Channel.com reports. The firm purchased 288,920 shares of the company’s stock, valued at approximately $4,210,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Advisors Asset Management Inc. raised its position in shares of 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 purchasing an additional 1,839 shares in the last quarter. Quarry LP bought a new stake in shares of IREN in the first quarter worth $40,000. SLT Holdings LLC acquired a new stake in IREN in the second quarter valued at $146,000. Foundations Investment Advisors LLC bought a new position in IREN during the 2nd quarter valued at $146,000. Finally, StoneX Group Inc. bought a new position in IREN during the 2nd quarter valued at $158,000. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at IREN

In related news, CEO Daniel John Roberts sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $33.13, for a total value of $33,130,000.00. Following the sale, the chief executive officer owned 13,989,696 shares of the company’s stock, valued at approximately $463,478,628.48. This trade represents a 6.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.02% of the company’s stock.

IREN Stock Performance

Shares of NASDAQ IREN opened at $44.71 on Friday. The company has a quick ratio of 5.52, a current ratio of 5.52 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average price is $55.17 and its two-hundred day moving average price is $31.87. IREN Limited has a 52-week low of $5.13 and a 52-week high of $76.87. The stock has a market capitalization of $12.67 billion, a P/E ratio of 23.05 and a beta of 4.23.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IREN. Citigroup assumed coverage on shares of IREN in a research report on Wednesday, November 19th. They issued an “outperform” rating for the company. Roth Capital set a $94.00 price objective on IREN and gave the company a “buy” rating in a report on Monday, November 3rd. Sanford C. Bernstein restated an “outperform” rating and set a $75.00 price objective on shares of IREN in a research note on Thursday, September 25th. HC Wainwright lifted their target price on IREN from $45.00 to $56.00 and gave the stock a “sell” rating in a research report on Tuesday, November 4th. Finally, BTIG Research boosted their price target on IREN from $32.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Twelve analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $69.85.

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.