IREN Limited $IREN Shares Sold by Alight Capital Management LP

Alight Capital Management LP lessened its position in IREN Limited (NASDAQ:IREN) by 35.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 90,000 shares of the company’s stock after selling 50,000 shares during the period. Alight Capital Management LP’s holdings in IREN were worth $3,399,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in IREN. Miller Wealth Advisors LLC lifted its stake in shares of IREN by 240.0% in the fourth 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. acquired a new stake in shares of IREN in the fourth quarter valued at about $26,000. Clearstead Trust LLC acquired a new stake in shares of IREN in the fourth quarter valued at about $27,000. Aventura Private Wealth LLC acquired a new stake in shares of IREN in the fourth quarter valued at about $28,000. Finally, Motco acquired a new stake in shares of IREN in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

IREN Stock Performance

Shares of NASDAQ IREN opened at $58.11 on Thursday. The company has a 50-day simple moving average of $53.46 and a 200-day simple moving average of $47.20. 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 12 month low of $9.63 and a 12 month high of $76.87. The company has a market cap of $20.77 billion, a PE ratio of 121.06 and a beta of 4.22.

IREN (NASDAQ:IREN) last released 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). IREN had a negative return on equity of 13.13% and a net margin of 20.90%.The company had revenue of $144.80 million during the quarter, compared to analyst estimates of $219.69 million. On average, equities analysts anticipate that IREN Limited will post -1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IREN has been the subject of several recent analyst reports. B. Riley Financial raised their price objective on shares of IREN from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. HC Wainwright raised their price objective on shares of IREN to $85.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Canaccord Genuity Group raised their target price on shares of IREN from $70.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Cantor Fitzgerald raised their target price on shares of IREN from $77.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Finally, The Goldman Sachs Group set a $50.00 target price on shares of IREN in a report on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $82.62.

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.