Jump Financial LLC Has $18.25 Million Stock Position in IREN Limited $IREN

Jump Financial LLC reduced its stake in IREN Limited (NASDAQ:IREN) by 15.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,252,739 shares of the company’s stock after selling 227,620 shares during the quarter. Jump Financial LLC owned about 0.67% of IREN worth $18,252,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of IREN. Y Intercept Hong Kong Ltd bought a new position in shares of IREN during the second quarter worth approximately $6,877,000. Aurelius Capital Management LP bought a new stake in IREN in the 1st quarter valued at $311,000. X Square Capital LLC grew its holdings in IREN by 129.9% in the 2nd quarter. X Square Capital LLC now owns 435,951 shares of the company’s stock valued at $6,352,000 after buying an additional 246,333 shares in the last quarter. Balefire LLC bought a new position in IREN during the 2nd quarter worth $1,214,000. Finally, Hartline Investment Corp bought a new position in IREN during the 2nd quarter worth $228,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JMP Securities set a $80.00 target price on shares of IREN in a research report on Wednesday, November 19th. UBS Group reiterated a “buy” rating on shares of IREN in a research note on Friday, November 7th. Arete Research assumed coverage on shares of IREN in a report on Wednesday, September 24th. They issued a “buy” rating and a $78.00 price objective for the company. Citizens Jmp assumed coverage on shares of IREN in a report on Wednesday, November 19th. They set a “market outperform” rating and a $80.00 target price on the stock. Finally, Zacks Research downgraded shares of IREN from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 28th. Twelve research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $69.85.

IREN Trading Down 3.7%

IREN opened at $44.71 on Friday. The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of 23.05 and a beta of 4.23. The company has a quick ratio of 5.52, a current ratio of 5.52 and a debt-to-equity ratio of 0.34. IREN Limited has a twelve month low of $5.13 and a twelve month high of $76.87. The company has a 50-day simple moving average of $55.17 and a 200 day simple moving average of $31.87.

Insider Activity at IREN

In other news, CEO Daniel John Roberts sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $33.13, for a total transaction of $33,130,000.00. Following the completion of the sale, the chief executive officer owned 13,989,696 shares of the company’s stock, valued at approximately $463,478,628.48. This represents a 6.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.02% of the company’s stock.

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.