Advantage Alpha Capital Partners LP Lowers Stock Holdings in IREN Limited $IREN

Advantage Alpha Capital Partners LP decreased its holdings in IREN Limited (NASDAQ:IREN) by 19.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,256 shares of the company’s stock after selling 8,227 shares during the period. Advantage Alpha Capital Partners LP’s holdings in IREN were worth $499,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Situational Awareness LP bought a new position in shares of IREN during the first quarter worth $20,500,000. Allianz Asset Management GmbH purchased a new stake in IREN in the 2nd quarter worth $10,743,000. Trexquant Investment LP lifted its stake 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 purchasing an additional 636,767 shares in the last quarter. Mizuho Markets Americas LLC boosted its holdings in shares of IREN by 1,832.5% during the 1st quarter. Mizuho Markets Americas LLC now owns 502,459 shares of the company’s stock valued at $3,060,000 after purchasing an additional 476,459 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in shares of IREN during the 1st quarter valued at about $2,876,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

IREN Price Performance

Shares of IREN opened at $48.45 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.52 and a current ratio of 5.52. The company has a 50 day moving average price of $54.86 and a 200-day moving average price of $30.15. IREN Limited has a fifty-two week low of $5.13 and a fifty-two week high of $76.87. The stock has a market capitalization of $13.73 billion, a PE ratio of 24.97 and a beta of 4.21.

IREN (NASDAQ:IREN) last issued its quarterly earnings data on Thursday, August 28th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. IREN had a net margin of 86.96% and a negative return on equity of 3.60%. The firm had revenue of $187.30 million for the quarter, compared to the consensus estimate of $187.51 million. Equities analysts predict that IREN Limited will post 0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Daniel John Roberts sold 1,000,000 shares of IREN stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $33.13, for a total transaction of $33,130,000.00. Following the completion of the sale, the chief executive officer owned 13,989,696 shares of the company’s stock, valued at $463,478,628.48. The trade was a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.02% of the company’s stock.

Analysts Set New Price Targets

IREN has been the topic of a number of research reports. Wall Street Zen raised IREN from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. JPMorgan Chase & Co. boosted their price target on shares of IREN from $28.00 to $39.00 and gave the stock an “underweight” rating in a research report on Monday. Citizens Jmp began coverage on shares of IREN in a research note on Wednesday, November 19th. They set a “market outperform” rating and a $80.00 price target on the stock. Macquarie lifted their price objective on shares of IREN to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Roth Capital set a $94.00 target price on shares of IREN and gave the stock a “buy” rating in a report on Monday, November 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $70.43.

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.