Delta Financial Group Inc. Acquires Shares of 10,000 IREN Limited (NASDAQ:IREN)

Delta Financial Group Inc. bought a new position in shares of IREN Limited (NASDAQ:IREN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,000 shares of the company’s stock, valued at approximately $61,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of IREN. JPMorgan Chase & Co. acquired a new stake in shares of IREN in the fourth quarter valued at approximately $587,000. ExodusPoint Capital Management LP bought a new position in IREN during the 4th quarter worth $1,725,000. Wells Fargo & Company MN raised its holdings in IREN by 54.7% in the 4th quarter. Wells Fargo & Company MN now owns 272,398 shares of the company’s stock valued at $2,675,000 after acquiring an additional 96,358 shares in the last quarter. Peapack Gladstone Financial Corp bought a new stake in shares of IREN during the 4th quarter valued at $137,000. Finally, Polymer Capital Management HK LTD lifted its position in shares of IREN by 147.8% during the 4th quarter. Polymer Capital Management HK LTD now owns 297,328 shares of the company’s stock valued at $2,920,000 after acquiring an additional 177,328 shares during the period. Institutional investors and hedge funds own 41.08% of the company’s stock.

Wall Street Analyst Weigh In

IREN has been the topic of a number of recent analyst reports. B. Riley restated a “buy” rating and issued a $22.00 price target (up previously from $15.00) on shares of IREN in a research report on Thursday, July 10th. Wall Street Zen raised shares of IREN from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $23.00 price target on shares of IREN in a report on Friday, May 16th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $16.00 price target (up previously from $12.00) on shares of IREN in a research report on Monday, July 28th. Finally, HC Wainwright lowered their price objective on shares of IREN from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, May 15th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.89.

IREN Price Performance

Shares of NASDAQ:IREN opened at $15.40 on Monday. IREN Limited has a one year low of $5.13 and a one year high of $21.54. The firm has a 50 day simple moving average of $13.50 and a 200 day simple moving average of $10.11.

IREN (NASDAQ:IREN) last announced its quarterly earnings results on Wednesday, May 14th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). The firm had revenue of $148.10 million during the quarter, compared to the consensus estimate of $153.38 million. IREN had a negative net margin of 9.40% and a negative return on equity of 2.12%. Sell-side analysts forecast that IREN Limited will post 0.43 EPS for the current fiscal year.

IREN Company Profile

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.