SG Americas Securities LLC Trims Stake in IREN Limited $IREN

SG Americas Securities LLC lessened its holdings in IREN Limited (NASDAQ:IREN) by 14.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,344 shares of the company’s stock after selling 14,601 shares during the period. SG Americas Securities LLC’s holdings in IREN were worth $4,193,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IREN. Global Retirement Partners LLC bought a new position in IREN in the 3rd quarter worth about $25,000. CWM LLC purchased a new position in shares of IREN during the third quarter worth about $165,000. Advisors Asset Management Inc. increased its position in shares of IREN by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 4,528 shares of the company’s stock worth $66,000 after purchasing an additional 1,839 shares during the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in IREN in the third quarter valued at approximately $221,000. Finally, Sandbox Financial Partners LLC bought a new stake in IREN during the third quarter valued at approximately $228,000. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

IREN Stock Up 0.8%

Shares of NASDAQ:IREN opened at $46.03 on Monday. IREN Limited has a 1 year low of $5.13 and a 1 year high of $76.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.52 and a quick ratio of 5.52. The stock’s 50-day moving average is $46.77 and its 200 day moving average is $37.62. The company has a market cap of $13.05 billion, a PE ratio of 23.73 and a beta of 4.25.

IREN (NASDAQ:IREN) last posted its earnings results on Thursday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.48). The business had revenue of $240.30 million for the quarter, compared to analysts’ expectations of $244.60 million. IREN had a net margin of 86.96% and a negative return on equity of 3.60%. IREN’s revenue was up 28.3% compared to the same quarter last year. Sell-side analysts anticipate that IREN Limited will post 0.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IREN. B. Riley reiterated a “buy” rating on shares of IREN in a report on Wednesday, October 22nd. Citizens Jmp assumed coverage on IREN in a report on Wednesday, November 19th. They issued a “market outperform” rating and a $80.00 price objective on the stock. Compass Point restated a “buy” rating and set a $105.00 target price on shares of IREN in a report on Friday, November 7th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $75.00 price target on shares of IREN in a research note on Thursday, September 25th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of IREN in a research note on Monday, December 29th. Twelve equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.64.

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.