SG Americas Securities LLC Decreases Holdings in IREN Limited $IREN

SG Americas Securities LLC trimmed its holdings in shares of IREN Limited (NASDAQ:IREN) by 14.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,344 shares of the company’s stock after selling 14,601 shares during the period. SG Americas Securities LLC’s holdings in IREN were worth $4,193,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in IREN. Belpointe Asset Management LLC raised its position in IREN by 21.8% in the first quarter. Belpointe Asset Management LLC now owns 24,974 shares of the company’s stock worth $152,000 after acquiring an additional 4,465 shares during the period. Balefire LLC purchased a new stake in shares of IREN during the 2nd quarter worth approximately $1,214,000. Baader Bank Aktiengesellschaft bought a new stake in shares of IREN in the 2nd quarter worth approximately $4,808,000. Wealth Enhancement Advisory Services LLC lifted its stake in IREN by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 61,248 shares of the company’s stock valued at $892,000 after purchasing an additional 3,307 shares during the last quarter. Finally, AFG Fiduciary Services Limited Partnership purchased a new position in IREN in the second quarter valued at approximately $254,000. Institutional investors own 41.08% of the company’s stock.

IREN Stock Performance

NASDAQ:IREN opened at $46.03 on Monday. The business’s fifty day moving average is $46.77 and its 200 day moving average is $37.62. The firm has a market cap of $13.05 billion, a price-to-earnings ratio of 23.73 and a beta of 4.25. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.52 and a current ratio of 5.52. IREN Limited has a 52-week low of $5.13 and a 52-week high of $76.87.

IREN (NASDAQ:IREN) last posted its earnings results on Thursday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.48). IREN had a net margin of 86.96% and a negative return on equity of 3.60%. The company had revenue of $240.30 million for the quarter, compared to analysts’ expectations of $244.60 million. The firm’s revenue was up 28.3% on a year-over-year basis. Research analysts predict that IREN Limited will post 0.43 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JMP Securities set a $80.00 target price on IREN in a research report on Wednesday, November 19th. BTIG Research lifted their price objective on IREN from $32.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Macquarie upped their price objective on shares of IREN to $86.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Compass Point reiterated a “buy” rating and set a $105.00 target price on shares of IREN in a research report on Friday, November 7th. Finally, Citizens Jmp began coverage on shares of IREN in a research report on Wednesday, November 19th. They issued a “market outperform” rating and a $80.00 price target on the stock. Twelve investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.64.

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.