IREN Limited $IREN Shares Sold by Arlington Capital Management Inc.

Arlington Capital Management Inc. trimmed its position in shares of IREN Limited (NASDAQ:IREN) by 91.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,167 shares of the company’s stock after selling 69,950 shares during the quarter. Arlington Capital Management Inc.’s holdings in IREN were worth $233,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Hudson Bay Capital Management LP acquired a new stake in IREN during the third quarter valued at $1,089,000. Value Aligned Research Advisors LLC raised its position in shares of IREN by 18.6% in the third quarter. Value Aligned Research Advisors LLC now owns 3,873,337 shares of the company’s stock worth $181,776,000 after acquiring an additional 607,189 shares during the period. Allworth Financial LP purchased a new stake in shares of IREN during the 3rd quarter worth about $651,000. Steadtrust LLC purchased a new stake in shares of IREN during the 3rd quarter worth about $1,159,000. Finally, CIBC Private Wealth Group LLC grew its position in shares of IREN by 113.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the company’s stock valued at $75,000 after acquiring an additional 850 shares during the period. 41.08% of the stock is currently owned by institutional investors and hedge funds.

IREN Trading Down 1.3%

IREN stock opened at $41.66 on Friday. The company has a current ratio of 4.96, a quick ratio of 4.96 and a debt-to-equity ratio of 1.51. IREN Limited has a 12-month low of $5.13 and a 12-month high of $76.87. The stock has a market cap of $13.84 billion, a price-to-earnings ratio of 31.32 and a beta of 4.31. The business’s 50-day moving average is $46.47 and its 200 day moving average is $47.02.

IREN (NASDAQ:IREN) last announced its earnings results on Thursday, February 5th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.37). The firm had revenue of $184.69 million for the quarter, compared to analyst estimates of $229.64 million. IREN had a net margin of 56.59% and a negative return on equity of 10.01%. IREN’s quarterly revenue was down 23.1% compared to the same quarter last year. On average, sell-side analysts anticipate that IREN Limited will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. B. Riley Financial reaffirmed a “buy” rating on shares of IREN in a report on Friday, February 6th. Weiss Ratings raised IREN from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 9th. HC Wainwright raised IREN from a “sell” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Tuesday, January 13th. Cantor Fitzgerald decreased their target price on IREN to $82.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Finally, The Goldman Sachs Group assumed coverage on shares of IREN in a research note on Thursday, December 18th. They issued a “neutral” rating and a $39.00 price target on the stock. Thirteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, IREN presently has an average rating of “Moderate Buy” and an average target price of $71.69.

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.