Verus Capital Partners LLC Purchases Shares of 13,200 IREN Limited $IREN

Verus Capital Partners LLC acquired a new position in shares of IREN Limited (NASDAQ:IREN) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 13,200 shares of the company’s stock, valued at approximately $619,000.

A number of other institutional investors and hedge funds have also modified their holdings of IREN. Global Retirement Partners LLC bought a new position in IREN in the third quarter worth $25,000. Sherman Asset Management Inc. acquired a new stake in shares of IREN during the 3rd quarter valued at about $59,000. Vermillion Wealth Management Inc. acquired a new stake in shares of IREN during the 3rd quarter valued at about $74,000. Avalon Trust Co bought a new stake in IREN in the third quarter valued at about $115,000. Finally, CWM LLC acquired a new position in IREN in the third quarter worth about $165,000. 41.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on IREN shares. HC Wainwright upgraded shares of IREN from a “sell” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Tuesday, January 13th. B. Riley Financial restated a “buy” rating on shares of IREN in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IREN in a research note on Monday, December 29th. Wall Street Zen downgraded shares of IREN from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 7th. Finally, Roth Mkm set a $94.00 target price on shares of IREN and gave the stock a “buy” rating in a report on Monday, November 3rd. Thirteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $71.69.

IREN Price Performance

Shares of IREN stock opened at $42.36 on Tuesday. IREN Limited has a 52 week low of $5.13 and a 52 week high of $76.87. The stock has a market capitalization of $14.08 billion, a PE ratio of 31.85 and a beta of 4.26. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.96 and a current ratio of 4.96. The stock’s fifty day moving average is $46.16 and its 200-day moving average is $44.72.

IREN (NASDAQ:IREN) last released its quarterly earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.37). The business had revenue of $184.69 million during the quarter, compared to the consensus estimate of $229.64 million. IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The firm’s revenue for the quarter was down 23.1% compared to the same quarter last year. Equities research analysts expect that IREN Limited will post 0.43 EPS for the current fiscal year.

About IREN

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.