IREN Limited $IREN Shares Sold by CastleKnight Management LP

CastleKnight Management LP lessened its stake in IREN Limited (NASDAQ:IREN) by 23.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 595,875 shares of the company’s stock after selling 183,500 shares during the quarter. IREN comprises approximately 0.5% of CastleKnight Management LP’s holdings, making the stock its 25th biggest holding. CastleKnight Management LP owned approximately 0.18% of IREN worth $22,506,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Miller Wealth Advisors LLC boosted its position in IREN by 240.0% during the 4th quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock worth $26,000 after purchasing an additional 480 shares during the period. North Star Investment Management Corp. purchased a new stake in IREN during the 4th quarter worth $26,000. Clearstead Trust LLC purchased a new stake in IREN during the 4th quarter worth $27,000. Aventura Private Wealth LLC purchased a new stake in IREN during the 4th quarter worth $28,000. Finally, Motco purchased a new stake in IREN during the 4th quarter worth $30,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

IREN Stock Performance

Shares of IREN stock opened at $58.11 on Thursday. IREN Limited has a 12 month low of $9.63 and a 12 month high of $76.87. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72. The firm has a market capitalization of $20.77 billion, a P/E ratio of 121.06 and a beta of 4.22. The company’s fifty day moving average price is $53.46 and its two-hundred day moving average price is $47.20.

IREN (NASDAQ:IREN) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). IREN had a negative return on equity of 13.13% and a net margin of 20.90%.The firm had revenue of $144.80 million during the quarter, compared to analyst estimates of $219.69 million. On average, research analysts anticipate that IREN Limited will post -1.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. HC Wainwright upped their price target on shares of IREN to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. The Goldman Sachs Group set a $50.00 price target on shares of IREN in a research report on Wednesday, May 27th. BTIG Research upped their price target on shares of IREN to $80.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. upped their price target on shares of IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of IREN from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Fourteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.