BNP Paribas Financial Markets Takes Position in IREN Limited $IREN

BNP Paribas Financial Markets bought a new stake in shares of IREN Limited (NASDAQ:IREN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,201,138 shares of the company’s stock, valued at approximately $158,677,000. BNP Paribas Financial Markets owned about 1.48% of IREN at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Centaurus Financial Inc. increased its position in shares of IREN by 1.1% during the 3rd quarter. Centaurus Financial Inc. now owns 31,482 shares of the company’s stock valued at $1,477,000 after purchasing an additional 332 shares during the last quarter. Larson Financial Group LLC increased its position in shares of IREN by 26.7% during the 3rd quarter. Larson Financial Group LLC now owns 1,590 shares of the company’s stock valued at $75,000 after purchasing an additional 335 shares during the last quarter. Miller Wealth Advisors LLC increased its position in shares of 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 last quarter. North Star Investment Management Corp. purchased a new stake in shares of IREN during the 4th quarter valued at $26,000. Finally, Clearstead Trust LLC purchased a new stake in shares of IREN during the 4th quarter valued at $27,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

IREN Stock Down 0.8%

IREN stock opened at $63.54 on Friday. 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 firm has a market capitalization of $22.71 billion, a PE ratio of 132.38 and a beta of 4.17. IREN Limited has a twelve month low of $8.28 and a twelve month high of $76.87. The stock has a 50-day simple moving average of $47.70 and a two-hundred day simple moving average of $46.28.

IREN (NASDAQ:IREN) last posted its earnings results 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 analysts predict that IREN Limited will post -1.17 EPS for the current fiscal year.

Analyst Ratings Changes

IREN has been the subject of several recent research reports. B. Riley Financial lifted their price objective on IREN from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday. Freedom Capital raised IREN to a “hold” rating in a report on Wednesday, April 1st. Cantor Fitzgerald lifted their price objective on IREN from $77.00 to $99.00 and gave the stock an “overweight” rating in a report on Thursday. The Goldman Sachs Group set a $50.00 price objective on IREN in a report on Wednesday. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $70.00 price objective on shares of IREN in a report on Tuesday, February 10th. Thirteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, IREN has a consensus rating of “Moderate Buy” and a consensus price target of $79.69.

IREN 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.