Balefire LLC Has $3.07 Million Stock Holdings in IREN Limited $IREN

Balefire LLC decreased its holdings in IREN Limited (NASDAQ:IREN) by 21.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,310 shares of the company’s stock after selling 18,013 shares during the quarter. Balefire LLC’s holdings in IREN were worth $3,065,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Drive Wealth Management LLC lifted its holdings in IREN by 3.0% during the second quarter. Drive Wealth Management LLC now owns 40,924 shares of the company’s stock valued at $596,000 after purchasing an additional 1,179 shares during the last quarter. Wellington Management Group LLP lifted its holdings in IREN by 11.7% in the 1st quarter. Wellington Management Group LLP now owns 13,212 shares of the company’s stock worth $80,000 after buying an additional 1,387 shares during the period. Centaurus Financial Inc. increased its position in IREN by 5.3% during the 2nd quarter. Centaurus Financial Inc. now owns 31,150 shares of the company’s stock valued at $454,000 after purchasing an additional 1,570 shares during the period. Main Management ETF Advisors LLC grew its holdings in shares of IREN by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 105,528 shares of the company’s stock worth $1,538,000 after acquiring an additional 1,716 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in IREN by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 4,528 shares of the company’s stock worth $66,000 after purchasing an additional 1,839 shares during the period. Hedge funds and other institutional investors own 41.08% of the company’s stock.

IREN Trading Down 7.7%

Shares of IREN stock opened at $33.78 on Thursday. The firm’s 50 day simple moving average is $53.37 and its two-hundred day simple moving average is $33.66. The company has a current ratio of 5.52, a quick ratio of 5.52 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $9.58 billion, a price-to-earnings ratio of 17.41 and a beta of 4.23. IREN Limited has a 12-month low of $5.13 and a 12-month high of $76.87.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Zacks Research lowered IREN from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 28th. Jones Trading lowered shares of IREN from a “buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $75.00 target price on shares of IREN in a report on Thursday, September 25th. UBS Group reiterated a “buy” rating on shares of IREN in a report on Friday, November 7th. Finally, Macquarie lifted their target price on IREN to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, IREN presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.85.

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.