J.W. Cole Advisors Inc. Has $1.61 Million Stock Position in IREN Limited $IREN

J.W. Cole Advisors Inc. decreased its stake in shares of IREN Limited (NASDAQ:IREN) by 60.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,596 shares of the company’s stock after selling 65,380 shares during the period. J.W. Cole Advisors Inc.’s holdings in IREN were worth $1,609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IREN. BNP Paribas Financial Markets acquired a new position in IREN during the 4th quarter worth about $158,677,000. Situational Awareness LP lifted its position in IREN by 90.1% during the 2nd quarter. Situational Awareness LP now owns 6,400,384 shares of the company’s stock valued at $93,254,000 after purchasing an additional 3,034,254 shares during the period. Voloridge Investment Management LLC lifted its position in IREN by 1,444.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,652,577 shares of the company’s stock valued at $77,555,000 after purchasing an additional 1,545,579 shares during the period. Marshall Wace LLP lifted its position in IREN by 247.7% during the 3rd quarter. Marshall Wace LLP now owns 2,032,397 shares of the company’s stock valued at $95,380,000 after purchasing an additional 1,447,842 shares during the period. Finally, Merewether Investment Management LP acquired a new position in IREN during the 2nd quarter valued at about $21,025,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

IREN Stock Performance

IREN stock opened at $59.19 on Tuesday. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44. The company has a market cap of $21.15 billion, a PE ratio of 123.31 and a beta of 4.22. The company’s 50-day moving average is $50.25 and its two-hundred day moving average is $46.67. IREN Limited has a 1 year low of $9.52 and a 1 year high of $76.87.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. BTIG Research upped their target price on shares of IREN to $80.00 and gave the company a “buy” rating in a research report on Friday, May 8th. B. Riley Financial upped their target price on shares of IREN from $88.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. The Goldman Sachs Group set a $50.00 target price on shares of IREN in a research report on Wednesday, May 27th. Sanford C. Bernstein set a $96.00 target price on shares of IREN in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on shares of IREN from $39.00 to $46.00 and gave the company an “underweight” rating in a research report on Monday, May 11th. Thirteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.62.

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.