Belpointe Asset Management LLC Buys 4,465 Shares of IREN Limited $IREN

Belpointe Asset Management LLC raised its stake in IREN Limited (NASDAQ:IREN) by 21.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,974 shares of the company’s stock after buying an additional 4,465 shares during the period. Belpointe Asset Management LLC’s holdings in IREN were worth $152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in IREN. Aurelius Capital Management LP purchased a new position in IREN in the first quarter worth $311,000. Maridea Wealth Management LLC lifted its stake in IREN by 57.1% in the first quarter. Maridea Wealth Management LLC now owns 320,167 shares of the company’s stock worth $1,950,000 after purchasing an additional 116,408 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in IREN by 14.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 987,466 shares of the company’s stock valued at $6,014,000 after acquiring an additional 122,668 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of IREN during the first quarter valued at approximately $169,000. Finally, Trexquant Investment LP grew its holdings in IREN by 158.6% in the 1st quarter. Trexquant Investment LP now owns 1,038,220 shares of the company’s stock worth $6,323,000 after acquiring an additional 636,767 shares during the last quarter. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. HC Wainwright increased their price objective on IREN from $21.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Wall Street Zen raised shares of IREN from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Cantor Fitzgerald raised their target price on shares of IREN from $27.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, August 29th. Jones Trading downgraded shares of IREN from a “buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. Finally, B. Riley raised their price objective on shares of IREN from $22.00 to $29.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.89.

Insider Buying and Selling

In related news, CEO Daniel John Roberts sold 1,000,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $33.13, for a total transaction of $33,130,000.00. Following the sale, the chief executive officer directly owned 13,989,696 shares of the company’s stock, valued at approximately $463,478,628.48. This represents a 6.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 21.55% of the company’s stock.

IREN Stock Performance

IREN stock opened at $36.45 on Wednesday. IREN Limited has a twelve month low of $5.13 and a twelve month high of $37.67. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $9.91 billion, a P/E ratio of 61.78 and a beta of 4.03. The stock’s 50 day moving average is $21.49 and its 200 day moving average is $12.93.

IREN (NASDAQ:IREN) last released its earnings results on Thursday, August 28th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. IREN had a return on equity of 1.34% and a net margin of 33.03%.The business had revenue of $187.30 million for the quarter, compared to the consensus estimate of $187.51 million. On average, equities research analysts predict that IREN Limited will post 0.43 earnings per share for the current fiscal year.

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.