Vontobel Holding Ltd. Decreases Stock Holdings in IREN Limited $IREN

Vontobel Holding Ltd. lowered its position in shares of IREN Limited (NASDAQ:IREN) by 68.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,600 shares of the company’s stock after selling 26,764 shares during the period. Vontobel Holding Ltd.’s holdings in IREN were worth $591,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IREN. Quarry LP purchased a new stake in IREN during the 1st quarter worth about $40,000. Advisors Asset Management Inc. raised its position in shares of IREN by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,528 shares of the company’s stock worth $66,000 after acquiring an additional 1,839 shares in the last quarter. Wellington Management Group LLP raised its position in shares of IREN by 11.7% during the 1st quarter. Wellington Management Group LLP now owns 13,212 shares of the company’s stock worth $80,000 after acquiring an additional 1,387 shares in the last quarter. PharVision Advisers LLC purchased a new stake in IREN during the first quarter worth approximately $126,000. Finally, SLT Holdings LLC acquired a new position in IREN in the second quarter valued at approximately $146,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

IREN Trading Down 4.0%

NASDAQ IREN opened at $40.30 on Monday. The firm’s fifty day moving average is $50.09 and its two-hundred day moving average is $35.35. IREN Limited has a one year low of $5.13 and a one year high of $76.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.52 and a current ratio of 5.52. The firm has a market cap of $11.42 billion, a PE ratio of 20.77 and a beta of 4.23.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. UBS Group reissued a “buy” rating on shares of IREN in a report on Friday, November 7th. Sanford C. Bernstein reissued an “outperform” rating and issued a $75.00 price target on shares of IREN in a research report on Thursday, September 25th. Citizens Jmp started coverage on shares of IREN in a research note on Wednesday, November 19th. They issued a “market outperform” rating and a $80.00 price objective for the company. JMP Securities set a $80.00 target price on IREN in a research report on Wednesday, November 19th. Finally, The Goldman Sachs Group began coverage on IREN in a report on Thursday, December 18th. They issued a “neutral” rating and a $39.00 target price for the company. Twelve research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.64.

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.