Continuum Advisory LLC Has $52,000 Stock Position in IREN Limited (NASDAQ:IREN)

Continuum Advisory LLC cut its holdings in IREN Limited (NASDAQ:IREN) by 84.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,599 shares of the company’s stock after selling 48,079 shares during the quarter. Continuum Advisory LLC’s holdings in IREN were worth $52,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IREN. Arrowstreet Capital Limited Partnership lifted its position in shares of IREN by 1,307.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company’s stock valued at $55,825,000 after acquiring an additional 5,280,999 shares during the period. Discovery Capital Management LLC CT acquired a new position in shares of IREN during the fourth quarter valued at about $11,544,000. Two Sigma Investments LP raised its holdings in shares of IREN by 193.2% during the fourth quarter. Two Sigma Investments LP now owns 1,602,642 shares of the company’s stock valued at $15,738,000 after purchasing an additional 1,056,005 shares during the period. Regal Partners Ltd boosted its position in shares of IREN by 93.9% during the 4th quarter. Regal Partners Ltd now owns 1,697,554 shares of the company’s stock worth $16,670,000 after purchasing an additional 822,251 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of IREN in the 4th quarter valued at about $7,162,000. 41.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IREN has been the topic of a number of research reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $23.00 price target on shares of IREN in a research note on Friday, May 16th. Wall Street Zen cut IREN from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Macquarie boosted their price target on shares of IREN from $15.50 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. HC Wainwright lowered their price objective on shares of IREN from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, May 15th. Finally, B. Riley lifted their price objective on shares of IREN from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.30.

IREN Price Performance

IREN opened at $11.87 on Thursday. IREN Limited has a fifty-two week low of $5.13 and a fifty-two week high of $15.92. The company’s 50-day moving average is $8.32 and its 200 day moving average is $9.21.

IREN (NASDAQ:IREN) last announced its earnings results on Wednesday, May 14th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). The business had revenue of $148.10 million during the quarter, compared to analysts’ expectations of $153.38 million. IREN had a negative return on equity of 2.12% and a negative net margin of 9.40%. On average, equities research analysts anticipate that IREN Limited will post 0.43 EPS for the current fiscal year.

IREN Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.