Prospera Financial Services Inc Purchases New Position in IREN Limited $IREN

Prospera Financial Services Inc purchased a new stake in shares of IREN Limited (NASDAQ:IREN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,217 shares of the company’s stock, valued at approximately $499,000.

Several other institutional investors also recently bought and sold shares of IREN. Miller Wealth Advisors LLC raised its position in IREN by 240.0% during the fourth quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock valued at $26,000 after acquiring an additional 480 shares in the last quarter. North Star Investment Management Corp. purchased a new stake in shares of IREN in the fourth quarter valued at approximately $26,000. Aventura Private Wealth LLC acquired a new stake in shares of IREN in the fourth quarter worth approximately $28,000. Motco acquired a new stake in shares of IREN in the fourth quarter worth approximately $30,000. Finally, Albion Financial Group UT acquired a new stake in shares of IREN in the fourth quarter worth approximately $38,000. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

IREN Stock Performance

Shares of IREN stock opened at $63.54 on Friday. IREN Limited has a 52 week low of $8.28 and a 52 week high of $76.87. The business’s fifty day simple moving average is $47.70 and its 200-day simple moving average is $46.28. The firm has a market cap of $22.71 billion, a PE ratio of 132.38 and a beta of 4.17. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44.

IREN (NASDAQ:IREN) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The firm had revenue of $144.80 million during the quarter, compared to analysts’ expectations of $219.69 million. IREN had a net margin of 20.90% and a negative return on equity of 13.13%. Equities analysts forecast that IREN Limited will post -1.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IREN. B. Riley Financial lifted their price target on IREN from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings raised IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. Wall Street Zen lowered IREN from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 7th. Canaccord Genuity Group reissued a “buy” rating and set a $70.00 price objective on shares of IREN in a research note on Tuesday, February 10th. Finally, The Goldman Sachs Group set a $50.00 price objective on IREN in a research note on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, IREN currently has a consensus rating of “Moderate Buy” and an average target price of $79.69.

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.