IREN Limited $IREN Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its position in IREN Limited (NASDAQ:IREN) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,248 shares of the company’s stock after acquiring an additional 3,307 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in IREN were worth $892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in IREN. Crewe Advisors LLC acquired a new stake in shares of IREN in the first quarter worth approximately $39,000. Quarry LP acquired a new stake in shares of IREN in the first quarter worth approximately $40,000. Delta Financial Group Inc. acquired a new stake in shares of IREN in the first quarter worth approximately $61,000. R Squared Ltd boosted 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 last quarter. Finally, US Bancorp DE acquired a new stake in shares of IREN in the first quarter worth approximately $69,000. 41.08% of the stock is owned by institutional investors and hedge funds.

IREN Trading Down 0.1%

Shares of IREN stock opened at $47.02 on Friday. The firm has a market cap of $12.79 billion, a PE ratio of 79.69 and a beta of 4.18. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.29 and a quick ratio of 4.29. IREN Limited has a 1-year low of $5.13 and a 1-year high of $49.39. The company has a 50-day moving average of $27.63 and a two-hundred day moving average of $15.86.

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

Insider Activity at IREN

In other news, CEO Daniel John Roberts sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $33.13, for a total value of $33,130,000.00. Following the completion of the transaction, the chief executive officer owned 13,989,696 shares of the company’s stock, valued at approximately $463,478,628.48. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 21.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IREN shares. Canaccord Genuity Group lifted their price target on IREN from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Arete Research began coverage on IREN in a report on Wednesday, September 24th. They issued a “buy” rating and a $78.00 target price for the company. HC Wainwright lifted their price target on IREN from $21.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Jones Trading cut shares of IREN from a “buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Finally, Wall Street Zen raised shares of IREN from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average 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.