IREN Limited $IREN Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC reduced its position in shares of IREN Limited (NASDAQ:IREN) by 15.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 813,070 shares of the company’s stock after selling 148,916 shares during the period. Private Advisor Group LLC’s holdings in IREN were worth $27,872,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Situational Awareness LP lifted its position in shares of IREN by 20.5% in the fourth quarter. Situational Awareness LP now owns 8,700,621 shares of the company’s stock valued at $328,622,000 after acquiring an additional 1,480,200 shares in the last quarter. Marex Group plc increased its position in shares of 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 purchasing an additional 4,440,032 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of IREN during the fourth quarter worth approximately $158,677,000. Value Aligned Research Advisors LLC increased its position in shares of IREN by 18.6% during the third quarter. Value Aligned Research Advisors LLC now owns 3,873,337 shares of the company’s stock worth $181,776,000 after purchasing an additional 607,189 shares in the last quarter. Finally, Clear Street Group Inc. acquired a new position in IREN in the 4th quarter valued at $137,075,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on IREN from $39.00 to $46.00 and gave the company an “underweight” rating in a report on Monday, May 11th. Canaccord Genuity Group upped their target price on shares of IREN from $70.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. B. Riley Financial increased their target price on shares of IREN from $88.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Freedom Capital raised shares of IREN to a “hold” rating in a research note on Wednesday, April 1st. Finally, Sanford C. Bernstein set a $96.00 price target on shares of IREN in a research report on Thursday, June 4th. Fourteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, IREN has an average rating of “Moderate Buy” and a consensus price target of $82.36.

Key IREN News

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

IREN Stock Performance

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

IREN (NASDAQ:IREN) last issued its 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). IREN had a negative return on equity of 13.13% and a net margin of 20.90%.The company had revenue of $144.79 million during the quarter, compared to analyst estimates of $219.69 million. On average, research analysts predict that IREN Limited will post -1.25 EPS for the current 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.