Fortis Group Advisors LLC Acquires Shares of 13,690 IREN Limited $IREN

Fortis Group Advisors LLC acquired a new stake in shares of IREN Limited (NASDAQ:IREN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 13,690 shares of the company’s stock, valued at approximately $517,000.

A number of other hedge funds have also added to or reduced their stakes in IREN. Miller Wealth Advisors LLC increased its position in IREN by 240.0% during the 4th quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock valued at $26,000 after purchasing an additional 480 shares during the period. North Star Investment Management Corp. bought a new stake in shares of IREN during the 4th quarter valued at $26,000. Aventura Private Wealth LLC bought a new stake in shares of IREN during the 4th quarter valued at $28,000. Motco bought a new stake in shares of IREN during the 4th quarter valued at $30,000. Finally, Albion Financial Group UT bought a new stake in shares of IREN during the 4th quarter valued at $38,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

IREN Price Performance

IREN opened at $58.06 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72. The stock has a market capitalization of $20.75 billion, a P/E ratio of 120.96 and a beta of 4.17. The company’s 50-day simple moving average is $45.42 and its two-hundred day simple moving average is $46.41. IREN Limited has a 52-week low of $8.28 and a 52-week high of $76.87.

IREN (NASDAQ:IREN) last posted its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The company had revenue of $144.80 million for the quarter, compared to the consensus estimate of $219.69 million. IREN had a net margin of 20.90% and a negative return on equity of 13.13%. As a group, analysts predict that IREN Limited will post -1.09 EPS for the current year.

Wall Street Analyst Weigh In

IREN has been the topic of a number of research reports. The Goldman Sachs Group restated a “neutral” rating and set a $44.00 target price on shares of IREN in a report on Friday, May 8th. Freedom Capital upgraded shares of IREN to a “hold” rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. boosted their target price on shares of IREN from $39.00 to $46.00 and gave the company an “underweight” rating in a report on Monday, May 11th. BTIG Research boosted their target price on shares of IREN to $80.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, B. Riley Financial restated a “buy” rating on shares of IREN in a report on Friday, February 6th. Thirteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, IREN currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.77.

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.