Insider Selling: IREN (NASDAQ:IREN) Director Sells $434,314.56 in Stock

IREN Limited (NASDAQ:IREN) Director Christopher Guzowski sold 11,958 shares of IREN stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $36.32, for a total value of $434,314.56. Following the sale, the director owned 39,168 shares in the company, valued at $1,422,581.76. This trade represents a 23.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

IREN Price Performance

Shares of NASDAQ IREN opened at $38.82 on Friday. The stock has a market cap of $13.87 billion, a PE ratio of 80.88 and a beta of 4.27. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44. IREN Limited has a 52-week low of $14.72 and a 52-week high of $76.87. The business has a 50-day moving average price of $54.72 and a 200 day moving average price of $47.54.

IREN (NASDAQ:IREN) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The firm had revenue of $144.79 million for the quarter, compared to analysts’ expectations of $219.69 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%. Equities research analysts forecast that IREN Limited will post -1.25 earnings per share for the current year.

IREN News Roundup

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Analyst commentary remained constructive on IREN’s AI pivot, with one report saying the company’s transformation from a bitcoin miner into an AI infrastructure provider is gaining traction and helping fuel the bullish long-term case. Forget Nvidia: This Infrastructure Upstart Is The Real Backdoor AI Winner
• Positive Sentiment: Another market note said IREN’s AI data center contract optimism has lifted fair-value estimates, highlighting renewed confidence in its Microsoft and NVIDIA-related opportunities. Iren (NasdaqGS:IREN) Stock Sees Fair Value Lift On AI Data Center Contract Optimism
• Positive Sentiment: Bernstein reiterated a Buy rating and a $100 price target, underscoring the view that IREN still has meaningful upside if its AI data center buildout continues on schedule. IREN Ltd (IREN) Upside Becomes Attractive Amid Stock Price Decline
• Positive Sentiment: IREN appointed a new Chief Product Officer and Chief Development Officer, which may support execution as it expands beyond bitcoin mining into AI infrastructure. IREN Appoints Chief Product Officer and Chief Development Officer
• Neutral Sentiment: Coverage of IREN as a “promising Bitcoin stock” and general AI/data center watchlist mentions kept the name in focus, but did not add a clear new catalyst. Promising Bitcoin Stocks To Keep An Eye On – July 2nd
• Neutral Sentiment: IREN also announced a large RSU package for its co-CEOs, which may be seen as a long-term retention tool, though it has drawn scrutiny over potential dilution and governance. IREN grants significant multi-year RSU awards to co-CEOs
• Negative Sentiment: Investor sentiment weakened after reports that IREN’s board approved a large founder equity package and a pricey Golden State Warriors sponsorship, raising concerns about dilution, capital allocation, and governance. IREN (NasdaqGS:IREN) Approves $800 Million Founder Equity Deal And Warriors Sponsorship
• Negative Sentiment: Several articles highlighted criticism over the co-CEO stock grants and related “payout machine” concerns, adding to worries that management incentives may not be aligned with shareholders. IREN Stock Heads For Ninth Straight Loss: $50M-A-Year NBA Spends, $788M Co-Founder Pay Packet Leave Retail Unimpressed
• Negative Sentiment: A director sold 11,958 shares, which can reinforce caution when the stock is already under pressure. Christopher Guzowski Sells 11,958 Shares of IREN (NASDAQ:IREN) Stock

Analysts Set New Price Targets

IREN has been the topic of a number of recent research reports. Cantor Fitzgerald lifted their target price on shares of IREN from $77.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. B. Riley Financial increased their price target on shares of IREN from $88.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Freedom Capital upgraded shares of IREN to a “hold” rating in a research note on Wednesday, April 1st. The Goldman Sachs Group set a $50.00 price objective on shares of IREN in a research report on Wednesday, May 27th. Finally, BTIG Research lifted their price objective on shares of IREN to $80.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.36.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. CENTRAL TRUST Co increased its holdings in shares of IREN by 19.8% in the first quarter. CENTRAL TRUST Co now owns 1,485 shares of the company’s stock valued at $51,000 after purchasing an additional 245 shares during the period. Versant Capital Management Inc lifted its holdings in shares of IREN by 14.5% during the second quarter. Versant Capital Management Inc now owns 2,509 shares of the company’s stock worth $115,000 after purchasing an additional 317 shares during the period. Vermillion Wealth Management Inc. grew its position in IREN by 19.1% in the 1st quarter. Vermillion Wealth Management Inc. now owns 2,049 shares of the company’s stock valued at $70,000 after buying an additional 328 shares during the last quarter. Centaurus Financial Inc. grew its position in IREN by 1.1% in the 3rd quarter. Centaurus Financial Inc. now owns 31,482 shares of the company’s stock valued at $1,477,000 after buying an additional 332 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in IREN by 26.7% in the 3rd quarter. Larson Financial Group LLC now owns 1,590 shares of the company’s stock valued at $75,000 after buying an additional 335 shares during the last quarter. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

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.