Stratos Wealth Advisors LLC Grows Stock Holdings in IREN Limited $IREN

Stratos Wealth Advisors LLC grew its holdings in shares of IREN Limited (NASDAQ:IREN) by 63.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,377 shares of the company’s stock after purchasing an additional 16,777 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in IREN were worth $1,638,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IREN. SteelPeak Wealth LLC purchased a new stake in shares of IREN in the fourth quarter valued at $435,000. Formidable Asset Management LLC increased its stake in IREN by 24.4% in the fourth quarter. Formidable Asset Management LLC now owns 31,536 shares of the company’s stock valued at $1,191,000 after purchasing an additional 6,186 shares during the last quarter. Lodestone Wealth Management LLC purchased a new position in IREN during the fourth quarter worth about $57,000. Spire Wealth Management boosted its stake in IREN by 25.8% in the 4th quarter. Spire Wealth Management now owns 8,655 shares of the company’s stock worth $327,000 after buying an additional 1,775 shares during the last quarter. Finally, Avaii Wealth Management LLC boosted its stake in IREN by 208.9% in the 4th quarter. Avaii Wealth Management LLC now owns 145,767 shares of the company’s stock worth $5,506,000 after buying an additional 98,581 shares during the last quarter. Institutional investors and hedge funds own 41.08% of the company’s stock.

IREN Stock Performance

Shares of NASDAQ:IREN opened at $34.77 on Friday. The firm has a market capitalization of $11.55 billion, a PE ratio of 26.14 and a beta of 4.30. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.96 and a quick ratio of 4.96. The business has a 50-day moving average of $42.91 and a two-hundred day moving average of $47.64. IREN Limited has a 12 month low of $5.13 and a 12 month high of $76.87.

IREN (NASDAQ:IREN) last released its quarterly earnings data on Thursday, February 5th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.37). IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The firm had revenue of $184.69 million during the quarter, compared to analyst estimates of $229.64 million. The firm’s quarterly revenue was down 23.1% on a year-over-year basis. As a group, research analysts forecast that IREN Limited will post 0.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on IREN shares. Weiss Ratings raised shares of IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 9th. Wall Street Zen cut shares of IREN from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 7th. Canaccord Genuity Group restated a “buy” rating and issued a $70.00 target price on shares of IREN in a report on Tuesday, February 10th. B. Riley Financial reaffirmed a “buy” rating on shares of IREN in a research report on Friday, February 6th. Finally, HC Wainwright raised shares of IREN from a “sell” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Tuesday, January 13th. Thirteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently 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.