Capital Research Global Investors Makes New $38.73 Million Investment in IREN Limited $IREN

Capital Research Global Investors purchased a new position in IREN Limited (NASDAQ:IREN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,025,430 shares of the company’s stock, valued at approximately $38,730,000. Capital Research Global Investors owned about 0.36% of IREN at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Miller Wealth Advisors LLC grew its holdings in IREN by 240.0% in the fourth quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock worth $26,000 after purchasing an additional 480 shares during the last quarter. North Star Investment Management Corp. purchased a new position in IREN in the fourth quarter worth $26,000. Clearstead Trust LLC purchased a new position in IREN in the fourth quarter worth $27,000. Aventura Private Wealth LLC purchased a new position in IREN in the fourth quarter worth $28,000. Finally, Motco purchased a new position in IREN in the fourth quarter worth $30,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on IREN shares. HC Wainwright lifted their price target on shares of IREN to $85.00 and gave the stock a “buy” rating in a report on Friday, May 8th. The Goldman Sachs Group set a $50.00 price target on shares of IREN in a report on Wednesday, May 27th. Canaccord Genuity Group lifted their price objective on shares of IREN from $70.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Weiss Ratings raised shares of IREN from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of IREN from $39.00 to $46.00 and gave the company an “underweight” rating in a report on Monday, May 11th. Thirteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.62.

IREN Price Performance

Shares of IREN opened at $54.02 on Wednesday. The firm has a market capitalization of $19.31 billion, a PE ratio of 112.54 and a beta of 4.22. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72. IREN Limited has a 1-year low of $9.52 and a 1-year high of $76.87. The company’s fifty day moving average price is $50.63 and its 200-day moving average price is $46.73.

IREN (NASDAQ:IREN) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The company had revenue of $144.80 million for the quarter, compared to analysts’ expectations of $219.69 million. IREN had a net margin of 20.90% and a negative return on equity of 13.13%. On average, equities research analysts predict that IREN Limited will post -1.25 EPS for the current year.

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.