Continuum Advisory LLC Sells 14,830 Shares of IREN Limited $IREN

Continuum Advisory LLC reduced its holdings in shares of IREN Limited (NASDAQ:IREN) by 33.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,965 shares of the company’s stock after selling 14,830 shares during the quarter. Continuum Advisory LLC’s holdings in IREN were worth $1,027,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Oppenheimer & Co. Inc. grew its stake in shares of IREN by 257.8% in the 4th 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. Sanctuary Advisors LLC lifted its position in shares of IREN by 282.2% during the fourth quarter. Sanctuary Advisors LLC now owns 46,224 shares of the company’s stock valued at $1,746,000 after purchasing an additional 34,129 shares in the last quarter. Avaii Wealth Management LLC boosted its holdings in IREN by 208.9% during the fourth quarter. Avaii Wealth Management LLC now owns 145,767 shares of the company’s stock worth $5,506,000 after purchasing an additional 98,581 shares during the last quarter. Private Advisor Group LLC boosted its holdings in IREN by 12.7% during the third quarter. Private Advisor Group LLC now owns 781,666 shares of the company’s stock worth $36,684,000 after purchasing an additional 88,081 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in IREN in the 4th quarter worth about $939,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

IREN Trading Down 2.8%

NASDAQ:IREN opened at $45.91 on Tuesday. IREN Limited has a 12 month low of $13.99 and a 12 month high of $76.87. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44. The firm’s 50 day moving average is $55.19 and its 200 day moving average is $47.60. The stock has a market capitalization of $16.41 billion, a PE ratio of 95.65 and a beta of 4.22.

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 the consensus estimate of ($0.22) by ($0.03). IREN had a net margin of 20.90% and a negative return on equity of 13.13%. The firm had revenue of $144.79 million for the quarter, compared to the consensus estimate of $219.69 million. Sell-side analysts expect that IREN Limited will post -1.25 earnings per share for the current year.

Wall Street Analyst Weigh In

IREN has been the subject of several analyst reports. HC Wainwright increased 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. Freedom Capital raised IREN to a “hold” rating in a report on Wednesday, April 1st. B. Riley Financial upped their target price on IREN from $88.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, June 4th. BTIG Research increased their price target on IREN to $80.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, The Goldman Sachs Group set a $50.00 price target on IREN in a report on Wednesday, May 27th. Fourteen 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.36.

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.