Wellington Management Group LLP Has $80,000 Position in IREN Limited $IREN

Wellington Management Group LLP boosted its holdings in shares of IREN Limited (NASDAQ:IREN) by 11.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,212 shares of the company’s stock after acquiring an additional 1,387 shares during the quarter. Wellington Management Group LLP’s holdings in IREN were worth $80,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of IREN by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,268 shares of the company’s stock valued at $123,000 after purchasing an additional 2,035 shares in the last quarter. TRU Independence Asset Management 2 LLC boosted its holdings in IREN by 22.1% in the first quarter. TRU Independence Asset Management 2 LLC now owns 20,241 shares of the company’s stock worth $123,000 after purchasing an additional 3,670 shares in the last quarter. Apollon Wealth Management LLC increased its position in IREN by 28.9% during the first quarter. Apollon Wealth Management LLC now owns 20,471 shares of the company’s stock worth $125,000 after buying an additional 4,587 shares during the last quarter. Main Management LLC bought a new position in IREN during the fourth quarter valued at about $49,000. Finally, Farther Finance Advisors LLC raised its holdings in IREN by 57.3% during the first quarter. Farther Finance Advisors LLC now owns 15,654 shares of the company’s stock valued at $104,000 after buying an additional 5,700 shares in the last quarter. 41.08% of the stock is owned by institutional investors.

IREN Price Performance

Shares of NASDAQ:IREN opened at $29.11 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 4.29 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $18.31 and a 200 day moving average price of $11.50. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 49.34 and a beta of 4.03. IREN Limited has a twelve month low of $5.13 and a twelve month high of $29.85.

IREN (NASDAQ:IREN) last issued its quarterly earnings results on Thursday, August 28th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $187.30 million during the quarter, compared to analyst estimates of $187.51 million. IREN had a return on equity of 1.34% and a net margin of 33.03%. Research analysts predict that IREN Limited will post 0.43 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on IREN. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $16.00 price target (up previously from $12.00) on shares of IREN in a research note on Monday, July 28th. HC Wainwright boosted their target price on IREN from $21.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Cantor Fitzgerald increased their price target on IREN from $27.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, August 29th. Canaccord Genuity Group lifted their price target on shares of IREN from $23.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Finally, Macquarie boosted their price objective on shares of IREN from $20.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.88.

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.