Harvest Portfolios Group Inc. Sells 27,901 Shares of IREN Limited $IREN

Harvest Portfolios Group Inc. cut its position in shares of IREN Limited (NASDAQ:IREN) by 18.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,197 shares of the company’s stock after selling 27,901 shares during the period. Harvest Portfolios Group Inc.’s holdings in IREN were worth $4,804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC raised its position in shares of IREN by 42.0% in the 4th quarter. Larson Financial Group LLC now owns 2,258 shares of the company’s stock worth $85,000 after acquiring an additional 668 shares in the last quarter. HighTower Advisors LLC raised its position in shares of IREN by 64.5% in the 4th quarter. HighTower Advisors LLC now owns 88,838 shares of the company’s stock worth $3,355,000 after acquiring an additional 34,828 shares in the last quarter. Intrua Financial LLC raised its position in shares of IREN by 15.6% in the 4th quarter. Intrua Financial LLC now owns 6,370 shares of the company’s stock worth $241,000 after acquiring an additional 860 shares in the last quarter. Western Wealth Management LLC bought a new position in shares of IREN in the 4th quarter worth $208,000. Finally, Ameritas Advisory Services LLC raised its position in shares of IREN by 1,749.5% in the 4th quarter. Ameritas Advisory Services LLC now owns 8,600 shares of the company’s stock worth $325,000 after acquiring an additional 8,135 shares in the last quarter. 41.08% of the stock is owned by institutional investors.

Key Headlines Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN’s co-CEO said demand for compute infrastructure is expected to be enormous, reinforcing the company’s pitch that its data centers and power capacity can benefit from AI/cloud buildout. The world will need an ENORMOUS amount of compute infrastructure: IREN co-CEO
• Positive Sentiment: Analysts and market commentary highlighted IREN’s rising AI cloud revenues, contracted GPU capacity, and large power pipeline as reasons it could keep outperforming peers, with some reports arguing the market may still be undervaluing its AI transition. Can IREN’s Rising AI Cloud Revenues Offset Bitcoin Mining Weakness? Why IREN Could Outperform Nebius Now
• Positive Sentiment: IREN continues developing its Childress data center campus, which supports the company’s broader expansion into AI-ready infrastructure and may increase future leasing and revenue potential. IREN continues developing data center campus in Childress

Analysts Set New Price Targets

Several research firms have recently commented on IREN. B. Riley Financial reissued a “buy” rating on shares of IREN in a research report on Friday, February 6th. The Goldman Sachs Group reissued a “neutral” rating and issued a $44.00 price target on shares of IREN in a research report on Friday, May 8th. Weiss Ratings lowered IREN from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 22nd. Canaccord Genuity Group reissued a “buy” rating and issued a $70.00 price target on shares of IREN in a research report on Tuesday, February 10th. Finally, HC Wainwright boosted their price target on IREN to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Thirteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, IREN currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.77.

IREN Trading Up 10.4%

Shares of NASDAQ:IREN opened at $52.71 on Thursday. The business’s 50-day moving average is $45.02 and its 200 day moving average is $46.43. IREN Limited has a 1 year low of $8.28 and a 1 year high of $76.87. The firm has a market capitalization of $18.84 billion, a P/E ratio of 109.81 and a beta of 4.17. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72.

IREN (NASDAQ:IREN) last announced its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). IREN had a net margin of 20.90% and a negative return on equity of 13.13%. The business had revenue of $144.80 million for the quarter, compared to analyst estimates of $219.69 million. On average, research analysts predict that IREN Limited will post -1.09 earnings per share for the current fiscal year.

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.