Harvest Portfolios Group Inc. Grows Stake in IREN Limited $IREN

Harvest Portfolios Group Inc. lifted its position in shares of IREN Limited (NASDAQ:IREN) by 122.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,382 shares of the company’s stock after acquiring an additional 56,366 shares during the period. Harvest Portfolios Group Inc. owned approximately 0.05% of IREN worth $1,492,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of IREN in the 1st quarter worth about $40,000. Delta Financial Group Inc. purchased a new stake in shares of IREN in the first quarter valued at $61,000. R Squared Ltd lifted its holdings in shares of IREN by 170.1% in the 1st quarter. R Squared Ltd now owns 10,290 shares of the company’s stock worth $63,000 after acquiring an additional 6,480 shares during the last quarter. US Bancorp DE purchased a new position in shares of IREN during the 1st quarter worth about $69,000. Finally, Wellington Management Group LLP grew its holdings in IREN by 11.7% during the 1st quarter. Wellington Management Group LLP now owns 13,212 shares of the company’s stock valued at $80,000 after purchasing an additional 1,387 shares during the last quarter. Institutional investors own 41.08% of the company’s stock.

Insider Transactions at IREN

In other IREN news, CEO Daniel John Roberts sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $33.13, for a total value of $33,130,000.00. Following the completion of the transaction, the chief executive officer directly owned 13,989,696 shares in the company, valued at approximately $463,478,628.48. The trade was a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

IREN has been the subject of several analyst reports. Roth Capital set a $94.00 price objective on shares of IREN and gave the stock a “buy” rating in a research note on Monday, November 3rd. Arete Research initiated coverage on IREN in a report on Wednesday, September 24th. They set a “buy” rating and a $78.00 price objective for the company. Zacks Research lowered IREN from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 28th. HC Wainwright lifted their price objective on shares of IREN from $45.00 to $56.00 and gave the company a “sell” rating in a report on Tuesday, November 4th. Finally, Compass Point restated a “buy” rating and issued a $105.00 target price on shares of IREN in a research note on Friday. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.58.

IREN Stock Down 0.7%

IREN stock traded down $0.42 during trading on Monday, hitting $61.96. 21,691,186 shares of the company’s stock traded hands, compared to its average volume of 24,598,826. The firm has a market capitalization of $16.85 billion, a P/E ratio of 31.95 and a beta of 4.21. IREN Limited has a 1 year low of $5.13 and a 1 year high of $76.87. The company has a quick ratio of 5.52, a current ratio of 5.52 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $49.90 and a two-hundred day simple moving average of $26.27.

IREN (NASDAQ:IREN) last announced its quarterly earnings results on Thursday, August 28th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $187.30 million for the quarter, compared to the consensus estimate of $187.51 million. IREN had a negative return on equity of 3.60% and a net margin of 86.96%. Sell-side analysts anticipate that IREN Limited will post 0.43 EPS for the current year.

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.