IREN Limited $IREN Stock Holdings Decreased by CastleKnight Management LP

CastleKnight Management LP lowered its stake in IREN Limited (NASDAQ:IREN) by 23.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 595,875 shares of the company’s stock after selling 183,500 shares during the period. IREN accounts for approximately 0.5% of CastleKnight Management LP’s holdings, making the stock its 25th biggest holding. CastleKnight Management LP’s holdings in IREN were worth $22,506,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of IREN. Miller Wealth Advisors LLC increased 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 worth $26,000 after purchasing an additional 480 shares during the last quarter. North Star Investment Management Corp. bought a new stake in shares of IREN during the 4th quarter valued at about $26,000. Clearstead Trust LLC acquired a new position in IREN during the 4th quarter valued at about $27,000. Aventura Private Wealth LLC acquired a new position in IREN during the 4th quarter valued at about $28,000. Finally, Motco acquired a new position in IREN during the 4th quarter valued at about $30,000. Institutional investors own 41.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on IREN shares. Freedom Capital raised shares of IREN to a “hold” rating in a research note on Wednesday, April 1st. JPMorgan Chase & Co. upped 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. The Goldman Sachs Group set a $50.00 price target on shares of IREN in a research note on Wednesday, May 27th. HC Wainwright upped 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. Finally, BTIG Research upped their price target on shares of IREN to $80.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Fourteen research 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, IREN currently has an average rating of “Moderate Buy” and a consensus price target of $82.62.

IREN Stock Down 1.8%

IREN stock opened at $58.11 on Thursday. IREN Limited has a 12 month low of $9.63 and a 12 month high of $76.87. The firm has a market cap of $20.77 billion, a PE ratio of 121.06 and a beta of 4.22. The firm has a 50 day simple moving average of $53.46 and a 200 day simple moving average of $47.20. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72.

IREN (NASDAQ:IREN) last released its earnings results on Friday, May 8th. The company reported ($0.25) EPS 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 business had revenue of $144.80 million for the quarter, compared to analyst estimates of $219.69 million. Equities research analysts forecast that IREN Limited will post -1.25 earnings per share for the current fiscal 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.