X Square Capital LLC Acquires Shares of 240,000 IREN Limited $IREN

X Square Capital LLC acquired a new stake in shares of IREN Limited (NASDAQ:IREN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 240,000 shares of the company’s stock, valued at approximately $9,065,000. IREN makes up about 3.0% of X Square Capital LLC’s investment portfolio, making the stock its 5th largest holding. X Square Capital LLC owned 0.08% of IREN at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IREN. Invesco Ltd. lifted its holdings in IREN by 45.9% during the second quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock valued at $43,341,000 after purchasing an additional 936,333 shares in the last quarter. StoneX Group Inc. purchased a new position in IREN during the second quarter valued at $158,000. NewEdge Advisors LLC lifted its holdings in IREN by 245.0% during the second quarter. NewEdge Advisors LLC now owns 43,281 shares of the company’s stock valued at $631,000 after purchasing an additional 30,736 shares in the last quarter. Sei Investments Co. purchased a new position in IREN during the second quarter valued at $2,333,000. Finally, Peapack Gladstone Financial Corp lifted its holdings in IREN by 30.0% during the second quarter. Peapack Gladstone Financial Corp now owns 18,200 shares of the company’s stock valued at $265,000 after purchasing an additional 4,200 shares in the last quarter. 41.08% of the stock is owned by hedge funds and other institutional investors.

IREN Stock Performance

NASDAQ:IREN opened at $59.19 on Tuesday. The company’s 50-day moving average price is $50.25 and its 200-day moving average price is $46.67. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44. The company has a market cap of $21.15 billion, a P/E ratio of 123.31 and a beta of 4.22. IREN Limited has a twelve month low of $9.52 and a twelve month high of $76.87.

IREN (NASDAQ:IREN) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). IREN had a negative return on equity of 13.13% and a net margin of 20.90%.The business had revenue of $144.80 million during the quarter, compared to analysts’ expectations of $219.69 million. On average, sell-side analysts forecast that IREN Limited will post -1.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IREN. JPMorgan Chase & Co. raised their price target on shares of IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a research note on Monday, May 11th. Cantor Fitzgerald raised their price target on shares of IREN from $77.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. HC Wainwright raised their price target on shares of IREN to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Sanford C. Bernstein set a $96.00 price target on shares of IREN in a research note on Thursday. Finally, The Goldman Sachs Group set a $50.00 price target on shares of IREN in a research note on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, IREN has an average rating of “Moderate Buy” and a consensus price target of $82.62.

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.