Regal Partners Ltd Sells 27,250 Shares of IREN Limited $IREN

Regal Partners Ltd lessened its stake in IREN Limited (NASDAQ:IREN) by 19.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 114,207 shares of the company’s stock after selling 27,250 shares during the quarter. Regal Partners Ltd’s holdings in IREN were worth $3,915,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Marex Group plc lifted its position in shares of IREN by 14,216.7% during the fourth quarter. Marex Group plc now owns 4,471,263 shares of the company’s stock valued at $168,880,000 after buying an additional 4,440,032 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of IREN in the 4th quarter worth approximately $158,677,000. Clear Street Group Inc. bought a new position in shares of IREN during the 4th quarter worth approximately $137,075,000. Situational Awareness LP raised its stake in shares of IREN by 90.1% during the 2nd quarter. Situational Awareness LP now owns 6,400,384 shares of the company’s stock worth $93,254,000 after acquiring an additional 3,034,254 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its position in IREN by 1,022.2% during the fourth quarter. Quadrature Capital Ltd now owns 2,870,637 shares of the company’s stock valued at $108,424,000 after acquiring an additional 2,614,835 shares during the last quarter. 41.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on IREN. Freedom Capital upgraded shares of IREN from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. The Goldman Sachs Group reiterated a “neutral” rating on shares of IREN in a report on Monday, July 20th. JPMorgan Chase & Co. raised their price objective on IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a research report on Monday, May 11th. Cantor Fitzgerald boosted their target price on IREN from $77.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings downgraded IREN from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.71.

IREN Stock Performance

Shares of IREN stock opened at $33.93 on Wednesday. The company has a 50 day moving average price of $50.13 and a 200 day moving average price of $47.46. The firm has a market capitalization of $12.13 billion, a P/E ratio of 70.69 and a beta of 4.27. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44. IREN Limited has a 52 week low of $14.72 and a 52 week high of $76.87.

IREN (NASDAQ:IREN) last released its 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 company had revenue of $144.79 million for the quarter, compared to analysts’ expectations of $219.69 million. Sell-side analysts expect that IREN Limited will post -1.96 EPS 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.