IREN Limited $IREN Stock Position Lowered by CloudAlpha Capital Management Limited Hong Kong

CloudAlpha Capital Management Limited Hong Kong lowered its position in shares of IREN Limited (NASDAQ:IREN) by 68.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,268 shares of the company’s stock after selling 143,732 shares during the quarter. CloudAlpha Capital Management Limited Hong Kong’s holdings in IREN were worth $3,110,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of IREN. Hood River Capital Management LLC acquired a new stake in IREN in the 2nd quarter valued at about $74,228,000. Situational Awareness LP lifted its stake in IREN by 90.1% during the second 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 last quarter. Merewether Investment Management LP bought a new stake in IREN during the second quarter worth approximately $21,025,000. Alkeon Capital Management LLC acquired a new position in IREN in the second quarter worth approximately $14,570,000. Finally, Invesco Ltd. increased its holdings in shares of IREN by 45.9% in the second quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock valued at $43,341,000 after buying an additional 936,333 shares in the last quarter. 41.08% of the stock is owned by institutional investors and hedge funds.

IREN Price Performance

NASDAQ IREN opened at $46.15 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.96 and a quick ratio of 4.96. The firm has a market capitalization of $13.08 billion, a price-to-earnings ratio of 34.70 and a beta of 4.26. The company has a 50 day simple moving average of $46.44 and a 200-day simple moving average of $42.95. IREN Limited has a 52-week low of $5.13 and a 52-week high of $76.87.

IREN (NASDAQ:IREN) last released its earnings results on Thursday, February 5th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.45). IREN had a negative return on equity of 10.01% and a net margin of 56.59%.The company had revenue of $184.69 million during the quarter, compared to analysts’ expectations of $229.64 million. The company’s revenue for the quarter was down 23.1% on a year-over-year basis. Equities research analysts predict that IREN Limited will post 0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. BTIG Research lifted their target price on IREN from $32.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. UBS Group reissued a “buy” rating on shares of IREN in a research note on Friday, November 7th. Citigroup began coverage on shares of IREN in a research note on Wednesday, November 19th. They set an “outperform” rating for the company. HC Wainwright raised shares of IREN from a “sell” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of IREN from $28.00 to $39.00 and gave the company an “underweight” rating in a research report on Monday, November 24th. Thirteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.29.

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.