Prospera Financial Services Inc Acquires New Holdings in IREN Limited $IREN

Prospera Financial Services Inc acquired a new stake in shares of IREN Limited (NASDAQ:IREN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,217 shares of the company’s stock, valued at approximately $499,000.

A number of other institutional investors also recently added to or reduced their stakes in IREN. Mirae Asset Global Investments Co. Ltd. acquired a new stake in IREN in the third quarter worth about $1,854,000. Oppenheimer & Co. Inc. boosted its holdings in IREN by 257.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 26,958 shares of the company’s stock worth $1,018,000 after acquiring an additional 19,423 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in IREN in the third quarter worth about $2,995,000. Sanctuary Advisors LLC boosted its holdings in IREN by 282.2% in the fourth quarter. Sanctuary Advisors LLC now owns 46,224 shares of the company’s stock worth $1,746,000 after acquiring an additional 34,129 shares in the last quarter. Finally, Avaii Wealth Management LLC boosted its holdings in IREN by 208.9% in the fourth quarter. Avaii Wealth Management LLC now owns 145,767 shares of the company’s stock worth $5,506,000 after acquiring an additional 98,581 shares in the last quarter. Institutional investors own 41.08% of the company’s stock.

IREN Trading Down 0.8%

Shares of NASDAQ:IREN opened at $63.54 on Friday. IREN Limited has a 52-week low of $8.28 and a 52-week high of $76.87. The stock has a market cap of $22.71 billion, a price-to-earnings ratio of 132.38 and a beta of 4.17. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44. The business has a 50-day moving average price of $47.70 and a 200-day moving average price of $46.28.

IREN (NASDAQ:IREN) last announced its quarterly earnings data 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 firm had revenue of $144.80 million during the quarter, compared to analysts’ expectations of $219.69 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%. Equities analysts predict that IREN Limited will post -1.17 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on IREN. Canaccord Genuity Group reissued a “buy” rating and issued a $70.00 price target on shares of IREN in a report on Tuesday, February 10th. Weiss Ratings raised IREN from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. HC Wainwright raised their price objective on IREN to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. The Goldman Sachs Group set a $50.00 price objective on IREN in a research note on Wednesday. Finally, BTIG Research raised their price objective on IREN to $80.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Thirteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.69.

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.