BNP Paribas Financial Markets Invests $158.68 Million in IREN Limited $IREN

BNP Paribas Financial Markets acquired a new position in shares of IREN Limited (NASDAQ:IREN) in the 4th quarter, Holdings Channel reports. The fund acquired 4,201,138 shares of the company’s stock, valued at approximately $158,677,000.

Several other hedge funds and other institutional investors also recently modified their holdings of IREN. Invesco Ltd. grew its holdings in shares of IREN by 45.9% during the second quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock worth $43,341,000 after purchasing an additional 936,333 shares in the last quarter. StoneX Group Inc. purchased a new stake in IREN in the second quarter worth approximately $158,000. NewEdge Advisors LLC boosted its stake in IREN by 245.0% in the second quarter. NewEdge Advisors LLC now owns 43,281 shares of the company’s stock worth $631,000 after buying an additional 30,736 shares in the last quarter. Sei Investments Co. purchased a new stake in IREN in the second quarter worth approximately $2,333,000. Finally, Peapack Gladstone Financial Corp boosted its stake in IREN by 30.0% in the second quarter. Peapack Gladstone Financial Corp now owns 18,200 shares of the company’s stock worth $265,000 after buying an additional 4,200 shares in the last quarter. Hedge funds and other institutional investors own 41.08% of the company’s stock.

IREN Stock Performance

Shares of IREN stock opened at $63.54 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72. IREN Limited has a fifty-two week low of $8.28 and a fifty-two week high of $76.87. The stock has a 50 day moving average price of $47.70 and a two-hundred day moving average price of $46.28. The company has a market capitalization of $22.71 billion, a P/E ratio of 132.38 and a beta of 4.17.

IREN (NASDAQ:IREN) last announced its quarterly earnings data 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 net margin of 20.90% and a negative return on equity of 13.13%. The company had revenue of $144.80 million during the quarter, compared to the consensus estimate of $219.69 million. Analysts expect that IREN Limited will post -1.17 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on IREN shares. Freedom Capital raised IREN to a “hold” rating in a research note on Wednesday, April 1st. The Goldman Sachs Group set a $50.00 target price on IREN in a research note on Wednesday. Cantor Fitzgerald upped their target price on IREN from $77.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday. HC Wainwright upped their target price on IREN to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, B. Riley Financial upped their target price on IREN from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday. Thirteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.69.

IREN 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.