Situational Awareness LP Purchases 2,998,214 Shares of IREN Limited $IREN

Situational Awareness LP grew its position in IREN Limited (NASDAQ:IREN) by 34.5% during the first quarter, HoldingsChannel reports. The firm owned 11,698,835 shares of the company’s stock after buying an additional 2,998,214 shares during the period. IREN comprises approximately 2.9% of Situational Awareness LP’s portfolio, making the stock its 4th largest holding. Situational Awareness LP’s holdings in IREN were worth $401,036,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Marex Group plc raised its stake in IREN by 14,216.7% during the fourth quarter. Marex Group plc now owns 4,471,263 shares of the company’s stock worth $168,880,000 after buying an additional 4,440,032 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in IREN during the fourth quarter valued at $158,677,000. Clear Street Group Inc. bought a new stake in IREN during the fourth quarter valued at $137,075,000. Quadrature Capital Ltd grew its holdings in IREN by 1,022.2% during the 4th quarter. Quadrature Capital Ltd now owns 2,870,637 shares of the company’s stock worth $108,424,000 after acquiring an additional 2,614,835 shares during the period. Finally, Neuberger Berman Group LLC grew its holdings in IREN by 2,050.8% during the 4th quarter. Neuberger Berman Group LLC now owns 1,964,922 shares of the company’s stock worth $74,215,000 after acquiring an additional 1,873,563 shares during the period. 41.08% of the stock is currently owned by institutional investors and hedge funds.

IREN Trading Down 6.5%

NASDAQ:IREN opened at $33.93 on Wednesday. IREN Limited has a 12 month low of $14.72 and a 12 month high of $76.87. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $12.13 billion, a price-to-earnings ratio of 70.69 and a beta of 4.27. The firm has a fifty day simple moving average of $50.13 and a two-hundred day simple moving average of $47.46.

IREN (NASDAQ:IREN) last announced its quarterly earnings data 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 company had revenue of $144.79 million for the quarter, compared to analyst estimates of $219.69 million. IREN had a net margin of 20.90% and a negative return on equity of 13.13%. Analysts expect that IREN Limited will post -1.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IREN. Canaccord Genuity Group reissued a “buy” rating and issued a $79.00 price objective on shares of IREN in a research note on Tuesday, July 21st. The Goldman Sachs Group restated a “neutral” rating on shares of IREN in a research report on Monday, July 20th. Sanford C. Bernstein set a $96.00 target price on IREN in a research note on Thursday, June 4th. HC Wainwright lifted their target price on IREN from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, B. Riley Financial boosted their price target on IREN from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, IREN currently has an average rating of “Moderate Buy” and a consensus price target of $82.71.

IREN Company 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.