IREN Limited $IREN Stock Holdings Increased by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd grew its position in shares of IREN Limited (NASDAQ:IREN) by 134,143.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 251,035 shares of the company’s stock after purchasing an additional 250,848 shares during the period. IREN accounts for about 2.3% of Caitong International Asset Management Co. Ltd’s investment portfolio, making the stock its 7th largest position. Caitong International Asset Management Co. Ltd owned about 0.08% of IREN worth $9,482,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Marex Group plc increased its stake in IREN by 14,216.7% in the fourth quarter. Marex Group plc now owns 4,471,263 shares of the company’s stock valued at $168,880,000 after purchasing an additional 4,440,032 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in IREN in the 4th quarter valued at about $158,677,000. Clear Street Group Inc. purchased a new stake in IREN in the 4th quarter valued at about $137,075,000. Situational Awareness LP increased its stake in shares of IREN by 90.1% during the 2nd quarter. Situational Awareness LP now owns 6,400,384 shares of the company’s stock valued at $93,254,000 after acquiring an additional 3,034,254 shares during the last quarter. Finally, Quadrature Capital Ltd increased its stake in shares of IREN by 1,022.2% during the 4th quarter. Quadrature Capital Ltd now owns 2,870,637 shares of the company’s stock valued at $108,424,000 after acquiring an additional 2,614,835 shares during the last quarter. Institutional investors and hedge funds own 41.08% of the company’s stock.

IREN Stock Performance

NASDAQ IREN opened at $59.96 on Friday. 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 $9.82 and a 1-year high of $76.87. The firm has a market capitalization of $21.43 billion, a P/E ratio of 124.92 and a beta of 4.22. The business’s 50-day simple moving average is $54.40 and its 200-day simple moving average is $47.38.

IREN (NASDAQ:IREN) last posted its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). IREN had a negative return on equity of 13.13% and a net margin of 20.90%.The business had revenue of $144.79 million for the quarter, compared to analyst estimates of $219.69 million. Equities analysts predict that IREN Limited will post -1.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on IREN shares. JPMorgan Chase & Co. raised their target price on shares of IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a research report on Monday, May 11th. B. Riley Financial upped their price target on shares of IREN from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Freedom Capital raised shares of IREN to a “hold” rating in a research note on Wednesday, April 1st. BTIG Research lifted their price target on shares of IREN to $80.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, The Goldman Sachs Group set a $50.00 price objective on shares of IREN in a research note on Wednesday, May 27th. Fourteen 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. Based on data from MarketBeat.com, IREN currently has an average rating of “Moderate Buy” and an average price target of $82.36.

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.