Chicago Partners Investment Group LLC Purchases 30,722 Shares of IREN Limited $IREN

Chicago Partners Investment Group LLC increased its position in shares of IREN Limited (NASDAQ:IREN) by 40.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,904 shares of the company’s stock after buying an additional 30,722 shares during the period. Chicago Partners Investment Group LLC’s holdings in IREN were worth $3,665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IREN. Miller Wealth Advisors LLC grew its position in shares of IREN by 240.0% in the 4th quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock valued at $26,000 after acquiring an additional 480 shares during the period. North Star Investment Management Corp. bought a new stake in shares of IREN in the 4th quarter valued at about $26,000. Clearstead Trust LLC bought a new stake in shares of IREN in the 4th quarter valued at about $27,000. Aventura Private Wealth LLC acquired a new stake in IREN in the 4th quarter valued at about $28,000. Finally, Motco acquired a new stake in IREN in the 4th quarter valued at about $30,000. 41.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IREN has been the subject of a number of research analyst reports. HC Wainwright lifted their price target on IREN to $85.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Jefferies Financial Group assumed coverage on IREN in a research report on Thursday, June 18th. They issued a “buy” rating and a $79.00 price objective for the company. Canaccord Genuity Group raised their price objective on IREN from $70.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Sanford C. Bernstein set a $96.00 target price on IREN in a research note on Thursday, June 4th. Finally, Cantor Fitzgerald boosted their target price on IREN from $77.00 to $99.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, IREN presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.36.

IREN Stock Down 5.3%

IREN stock opened at $38.98 on Tuesday. IREN Limited has a fifty-two week low of $14.72 and a fifty-two week high of $76.87. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72. The stock has a market capitalization of $13.93 billion, a price-to-earnings ratio of 81.21 and a beta of 4.27. The business’s fifty day moving average price is $54.01 and its two-hundred day moving average price is $47.75.

IREN (NASDAQ:IREN) last announced its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). IREN had a net margin of 20.90% and a negative return on equity of 13.13%. The business had revenue of $144.79 million during the quarter, compared to the consensus estimate of $219.69 million. On average, equities analysts anticipate that IREN Limited will post -1.25 earnings per share for the current year.

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.