Stratos Wealth Partners LTD. Takes $1.97 Million Position in IREN Limited $IREN

Stratos Wealth Partners LTD. purchased a new stake in shares of IREN Limited (NASDAQ:IREN) during the 4th quarter, Holdings Channel reports. The fund purchased 52,184 shares of the company’s stock, valued at approximately $1,971,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Situational Awareness LP grew its position in 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 during the last quarter. Value Aligned Research Advisors LLC grew its holdings in IREN by 18.6% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 3,873,337 shares of the company’s stock worth $181,776,000 after acquiring an additional 607,189 shares during the last quarter. Invesco Ltd. grew its holdings in IREN by 45.9% during the 2nd quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock worth $43,341,000 after acquiring an additional 936,333 shares during the last quarter. UBS Group AG grew its holdings in IREN by 37.3% during the 3rd quarter. UBS Group AG now owns 2,767,452 shares of the company’s stock worth $129,877,000 after acquiring an additional 751,635 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of IREN by 247.7% in the 3rd quarter. Marshall Wace LLP now owns 2,032,397 shares of the company’s stock valued at $95,380,000 after buying an additional 1,447,842 shares during the last quarter. 41.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings upgraded IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 9th. Zacks Research raised shares of IREN from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 16th. HC Wainwright raised shares of IREN from a “sell” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Tuesday, January 13th. Freedom Capital upgraded IREN to a “hold” rating in a research report on Wednesday, April 1st. Finally, Canaccord Genuity Group restated a “buy” rating and set a $70.00 target price on shares of IREN in a research report on Tuesday, February 10th. Thirteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $71.69.

IREN Trading Up 1.7%

Shares of IREN opened at $35.74 on Wednesday. IREN Limited has a fifty-two week low of $5.13 and a fifty-two week high of $76.87. The business has a 50-day moving average of $42.08 and a 200 day moving average of $47.68. The firm has a market cap of $11.88 billion, a P/E ratio of 26.87 and a beta of 4.30. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.96 and a current ratio of 4.96.

IREN (NASDAQ:IREN) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.37). IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The business had revenue of $184.69 million for the quarter, compared to analysts’ expectations of $229.64 million. The business’s quarterly revenue was down 23.1% on a year-over-year basis. As a group, research analysts forecast that IREN Limited will post 0.43 EPS for the current year.

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.