Sava Infond d.o.o. Buys 6,500 Shares of IREN Limited $IREN

Sava Infond d.o.o. lifted its stake in IREN Limited (NASDAQ:IREN) by 65.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,500 shares of the company’s stock after acquiring an additional 6,500 shares during the quarter. Sava Infond d.o.o.’s holdings in IREN were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Crewe Advisors LLC bought a new stake in shares of IREN in the first quarter worth approximately $39,000. Quarry LP bought a new stake in shares of IREN in the first quarter worth approximately $40,000. Delta Financial Group Inc. bought a new stake in shares of IREN in the first quarter worth approximately $61,000. R Squared Ltd grew its stake in shares of IREN by 170.1% in the first quarter. R Squared Ltd now owns 10,290 shares of the company’s stock worth $63,000 after acquiring an additional 6,480 shares during the period. Finally, US Bancorp DE bought a new stake in shares of IREN in the first quarter worth approximately $69,000. 41.08% of the stock is currently owned by institutional investors.

IREN Stock Performance

Shares of NASDAQ IREN opened at $50.46 on Friday. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 0.53. IREN Limited has a 12-month low of $5.13 and a 12-month high of $52.19. The firm has a market capitalization of $13.72 billion, a price-to-earnings ratio of 85.53 and a beta of 4.19. The firm has a 50 day moving average of $28.29 and a 200 day moving average of $16.16.

IREN (NASDAQ:IREN) last issued its quarterly earnings results on Thursday, August 28th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. IREN had a net margin of 33.03% and a return on equity of 1.34%. The business had revenue of $187.30 million for the quarter, compared to the consensus estimate of $187.51 million. On average, research analysts anticipate that IREN Limited will post 0.43 earnings per share for the current year.

Insiders Place Their Bets

In other IREN news, CEO Daniel John Roberts sold 1,000,000 shares of IREN stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $33.13, for a total transaction of $33,130,000.00. Following the transaction, the chief executive officer owned 13,989,696 shares of the company’s stock, valued at $463,478,628.48. The trade was a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Arete assumed coverage on shares of IREN in a research note on Wednesday, September 24th. They issued a “buy” rating and a $78.00 price target for the company. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $24.00 price target (up from $16.00) on shares of IREN in a research note on Friday, September 26th. BTIG Research boosted their target price on shares of IREN from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Roth Capital restated a “buy” rating and set a $35.00 target price on shares of IREN in a research report on Friday, August 29th. Finally, Canaccord Genuity Group boosted their target price on shares of IREN from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.73.

IREN Company 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.