Regal Partners Ltd Reduces Stock Position in IREN Limited $IREN

Regal Partners Ltd lessened its holdings in IREN Limited (NASDAQ:IREN) by 19.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 114,207 shares of the company’s stock after selling 27,250 shares during the quarter. Regal Partners Ltd’s holdings in IREN were worth $3,915,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. CENTRAL TRUST Co boosted its stake in shares of IREN by 19.8% during the first quarter. CENTRAL TRUST Co now owns 1,485 shares of the company’s stock valued at $51,000 after purchasing an additional 245 shares during the period. Vermillion Wealth Management Inc. grew its holdings in shares of IREN by 19.1% in the first quarter. Vermillion Wealth Management Inc. now owns 2,049 shares of the company’s stock worth $70,000 after purchasing an additional 328 shares during the last quarter. Larson Financial Group LLC increased its stake in IREN by 26.7% in the 3rd quarter. Larson Financial Group LLC now owns 1,590 shares of the company’s stock worth $75,000 after buying an additional 335 shares during the period. Hollencrest Capital Management increased its stake in IREN by 50.0% in the 1st quarter. Hollencrest Capital Management now owns 1,050 shares of the company’s stock worth $36,000 after buying an additional 350 shares during the period. Finally, Vise Technologies Inc. lifted its holdings in IREN by 7.9% during the 4th quarter. Vise Technologies Inc. now owns 5,780 shares of the company’s stock valued at $218,000 after buying an additional 424 shares in the last quarter. Institutional investors own 41.08% of the company’s stock.

IREN Trading Down 6.5%

NASDAQ IREN opened at $33.93 on Wednesday. IREN Limited has a one year low of $14.72 and a one year high of $76.87. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72. The company has a market capitalization of $12.13 billion, a price-to-earnings ratio of 70.69 and a beta of 4.27. The company’s 50-day simple moving average is $50.13 and its two-hundred day simple moving average is $47.46.

IREN (NASDAQ:IREN) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The business had revenue of $144.79 million during the quarter, compared to analysts’ expectations of $219.69 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%. Equities analysts forecast that IREN Limited will post -1.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Freedom Capital raised shares of IREN from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Sanford C. Bernstein set a $96.00 target price on shares of IREN in a research report on Thursday, June 4th. B. Riley Financial lifted their price target on shares of IREN from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. BTIG Research boosted their price target on IREN to $80.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Compass Point reissued a “buy” rating on shares of IREN in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.71.

About IREN

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.