Chesapeake Capital Corp IL Makes New $724,000 Investment in IREN Limited $IREN

Chesapeake Capital Corp IL bought a new stake in shares of IREN Limited (NASDAQ:IREN) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,434 shares of the company’s stock, valued at approximately $724,000.

Several other institutional investors and hedge funds have also modified their holdings of IREN. Global Retirement Partners LLC acquired a new position in shares of IREN in the third quarter worth $25,000. Allianz SE purchased a new position in IREN in the third quarter valued at about $57,000. Sherman Asset Management Inc. purchased a new position in IREN in the third quarter valued at about $59,000. Banque Cantonale Vaudoise acquired a new position in IREN in the 3rd quarter worth about $67,000. Finally, Vermillion Wealth Management Inc. acquired a new position in IREN in the 3rd quarter worth about $74,000. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

IREN Price Performance

Shares of NASDAQ:IREN opened at $41.58 on Friday. IREN Limited has a fifty-two week low of $5.13 and a fifty-two week high of $76.87. The business has a 50-day moving average of $46.70 and a two-hundred day moving average of $46.48. The stock has a market capitalization of $13.82 billion, a P/E ratio of 31.26 and a beta of 4.31. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.96 and a quick ratio of 4.96.

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 the consensus estimate of ($0.07) by ($0.37). The company had revenue of $184.69 million for the quarter, compared to the consensus estimate of $229.64 million. IREN had a negative return on equity of 10.01% and a net margin of 56.59%.The company’s revenue was down 23.1% on a year-over-year basis. On average, equities research analysts predict that IREN Limited will post 0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IREN. Citizens Jmp set a $80.00 price target on IREN in a report on Wednesday, November 19th. Zacks Research upgraded IREN from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. HC Wainwright raised shares of IREN from a “sell” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Tuesday, January 13th. Weiss Ratings upgraded shares of IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Finally, Cantor Fitzgerald decreased their target price on shares of IREN to $82.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Thirteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, IREN currently has an average rating of “Moderate Buy” and an average price target of $71.69.

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.