5,094,572 Shares in IREN Limited $IREN Purchased by Hood River Capital Management LLC

Hood River Capital Management LLC acquired a new position in IREN Limited (NASDAQ:IREN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,094,572 shares of the company’s stock, valued at approximately $74,228,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in IREN. Intrinsic Edge Capital Management LLC acquired a new position in shares of IREN in the 2nd quarter valued at $3,351,000. Ardmore Road Asset Management LP acquired a new position in shares of IREN in the second quarter worth about $4,210,000. StoneX Group Inc. purchased a new stake in shares of IREN during the 2nd quarter worth about $158,000. Two Seas Capital LP grew its position in shares of IREN by 46.1% during the 2nd quarter. Two Seas Capital LP now owns 971,891 shares of the company’s stock valued at $14,160,000 after acquiring an additional 306,891 shares during the period. Finally, Invesco Ltd. grew its position in shares of IREN by 45.9% during the 2nd quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock valued at $43,341,000 after acquiring an additional 936,333 shares during the period. Institutional investors and hedge funds own 41.08% of the company’s stock.

IREN Price Performance

IREN stock opened at $44.71 on Monday. IREN Limited has a 1 year low of $5.13 and a 1 year high of $76.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.52 and a quick ratio of 5.52. The firm has a market capitalization of $12.67 billion, a PE ratio of 23.05 and a beta of 4.23. The business has a 50 day simple moving average of $55.17 and a 200-day simple moving average of $32.03.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IREN. BTIG Research increased their price target on IREN from $32.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Zacks Research downgraded IREN from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 28th. Cantor Fitzgerald lifted their price target on shares of IREN from $27.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, August 29th. Sanford C. Bernstein restated an “outperform” rating and set a $75.00 price objective on shares of IREN in a research report on Thursday, September 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of IREN in a research note on Monday, December 1st. Twelve equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, IREN has an average rating of “Moderate Buy” and a consensus price target of $69.85.

Insider Transactions at IREN

In other IREN news, CEO Daniel John Roberts sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $33.13, for a total value of $33,130,000.00. Following the completion of the sale, the chief executive officer directly owned 13,989,696 shares in the company, valued at $463,478,628.48. This represents a 6.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.02% of the stock is currently owned by insiders.

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.