23,200 Shares in IREN Limited $IREN Acquired by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP bought a new position in shares of IREN Limited (NASDAQ:IREN) during the 3rd quarter, Holdings Channel.com reports. The firm bought 23,200 shares of the company’s stock, valued at approximately $1,089,000.

Several other institutional investors also recently made changes to their positions in IREN. Global Retirement Partners LLC purchased a new position in shares of IREN in the 3rd quarter worth $25,000. Allianz SE purchased a new stake in shares of IREN during the 3rd quarter worth about $57,000. Sherman Asset Management Inc. purchased a new position in IREN in the third quarter valued at approximately $59,000. Banque Cantonale Vaudoise acquired a new position in IREN during the third quarter valued at approximately $67,000. Finally, Vermillion Wealth Management Inc. acquired a new position in IREN during the third quarter valued at approximately $74,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

IREN Stock Down 0.8%

Shares of IREN stock opened at $41.32 on Monday. The company has a current ratio of 4.96, a quick ratio of 4.96 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $13.73 billion, a price-to-earnings ratio of 31.07 and a beta of 4.31. IREN Limited has a twelve month low of $5.13 and a twelve month high of $76.87. The business’s 50 day simple moving average is $46.37 and its 200-day simple moving average is $47.38.

IREN (NASDAQ:IREN) last posted its earnings results on Thursday, February 5th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.37). IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The business had revenue of $184.69 million during the quarter, compared to analyst estimates of $229.64 million. The business’s quarterly revenue was down 23.1% on a year-over-year basis. Equities research analysts forecast that IREN Limited will post 0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on IREN from $28.00 to $39.00 and gave the stock an “underweight” rating in a research report on Monday, November 24th. The Goldman Sachs Group started coverage on shares of IREN in a research note on Thursday, December 18th. They set a “neutral” rating and a $39.00 price target on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $70.00 price objective on shares of IREN in a report on Tuesday, February 10th. Wall Street Zen downgraded IREN from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 7th. Finally, Cantor Fitzgerald dropped their target price on IREN to $82.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Thirteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.69.

IREN Company 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.