Envestnet Asset Management Inc. Boosts Holdings in IREN Limited $IREN

Envestnet Asset Management Inc. boosted its stake in IREN Limited (NASDAQ:IREN) by 152.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,020 shares of the company’s stock after acquiring an additional 26,550 shares during the period. Envestnet Asset Management Inc.’s holdings in IREN were worth $2,066,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of IREN. Global Retirement Partners LLC acquired a new stake in IREN during the 3rd quarter worth $25,000. Advisors Asset Management Inc. increased 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 valued at $66,000 after purchasing an additional 1,839 shares during the period. Vermillion Wealth Management Inc. purchased a new stake in shares of IREN in the third quarter valued at about $74,000. Foundations Investment Advisors LLC acquired a new stake in shares of IREN during the second quarter worth about $146,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of IREN by 54.3% during the second quarter. Tower Research Capital LLC TRC now owns 10,463 shares of the company’s stock worth $152,000 after buying an additional 3,684 shares during the period. 41.08% of the stock is owned by institutional investors and hedge funds.

IREN Stock Performance

NASDAQ IREN opened at $40.95 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.96 and a quick ratio of 4.96. IREN Limited has a 1-year low of $5.13 and a 1-year high of $76.87. The business’s 50-day simple moving average is $46.73 and its 200-day simple moving average is $45.06. The firm has a market capitalization of $13.61 billion, a P/E ratio of 30.79 and a beta of 4.27.

IREN (NASDAQ:IREN) last issued 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). IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The business had revenue of $184.69 million during the quarter, compared to analysts’ expectations of $229.64 million. IREN’s revenue was down 23.1% on a year-over-year basis. Equities analysts predict that IREN Limited will post 0.43 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on IREN. Wall Street Zen lowered shares of IREN from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 7th. Citizens Jmp set a $80.00 target price on shares of IREN in a report on Wednesday, November 19th. B. Riley Financial reaffirmed a “buy” rating on shares of IREN in a report on Friday, February 6th. Zacks Research raised shares of IREN from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. Finally, HC Wainwright upgraded IREN from a “sell” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Tuesday, January 13th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, IREN currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.69.

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.