Balefire LLC Lowers Holdings in IREN Limited $IREN

Balefire LLC reduced its stake in shares of IREN Limited (NASDAQ:IREN) by 21.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 65,310 shares of the company’s stock after selling 18,013 shares during the period. Balefire LLC’s holdings in IREN were worth $3,065,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Quarry LP purchased a new stake in shares of IREN in the first quarter worth about $40,000. Advisors Asset Management Inc. grew its stake in IREN by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,528 shares of the company’s stock valued at $66,000 after acquiring an additional 1,839 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of IREN by 11.7% during the 1st quarter. Wellington Management Group LLP now owns 13,212 shares of the company’s stock valued at $80,000 after acquiring an additional 1,387 shares during the last quarter. CW Advisors LLC acquired a new stake in IREN during the first quarter worth $122,000. Finally, PharVision Advisers LLC purchased a new position in shares of IREN during the 1st quarter worth approximately $126,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on IREN from $28.00 to $39.00 and gave the company an “underweight” rating in a research note on Monday, November 24th. Sanford C. Bernstein reiterated an “outperform” rating and set a $75.00 target price on shares of IREN in a research note on Thursday, September 25th. Jones Trading downgraded IREN from a “buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. B. Riley restated a “buy” rating on shares of IREN in a research report on Wednesday, October 22nd. Finally, Citigroup started coverage on IREN in a report on Wednesday, November 19th. They issued an “outperform” rating for the company. Twelve investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.85.

IREN Trading Down 7.7%

Shares of NASDAQ IREN opened at $33.78 on Thursday. IREN Limited has a 52-week low of $5.13 and a 52-week high of $76.87. The stock’s 50 day moving average price is $53.37 and its two-hundred day moving average price is $33.66. 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 stock has a market capitalization of $9.58 billion, a P/E ratio of 17.41 and a beta of 4.23.

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.