493,776 Shares in IREN Limited $IREN Acquired by Legal & General Group Plc

Key Points

• Legal & General Group Plc disclosed a new position in IREN Limited during the fourth quarter, buying 493,776 shares worth about $18.65 million. The stake represented roughly 0.17% of IREN based on the filing.
• Other institutional investors also increased or initiated positions in IREN, and institutions now own about 41.08% of the company. Notable buyers included Situational Awareness LP, Voloridge Investment Management, Marshall Wace, Merewether, and Arrowstreet Capital.
• IREN shares were trading around $65.33 after a recent rise, but the company’s latest earnings missed expectations with EPS of -$0.25 and revenue of $144.8 million versus forecasts of $219.69 million. Analysts currently rate the stock a Moderate Buy with a consensus price target of $79.69.

Legal & General Group Plc acquired a new position in IREN Limited (NASDAQ:IREN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 493,776 shares of the company's stock, valued at approximately $18,650,000. Legal & General Group Plc owned approximately 0.17% of IREN as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of IREN. Situational Awareness LP grew its stake in IREN by 90.1% in the second quarter. Situational Awareness LP now owns 6,400,384 shares of the company's stock worth $93,254,000 after purchasing an additional 3,034,254 shares in the last quarter. Voloridge Investment Management LLC grew its stake in IREN by 1,444.5% in the third quarter. Voloridge Investment Management LLC now owns 1,652,577 shares of the company's stock worth $77,555,000 after purchasing an additional 1,545,579 shares in the last quarter. Marshall Wace LLP grew its stake in IREN by 247.7% in the third quarter. Marshall Wace LLP now owns 2,032,397 shares of the company's stock worth $95,380,000 after purchasing an additional 1,447,842 shares in the last quarter. Merewether Investment Management LP bought a new position in IREN in the second quarter worth approximately $21,025,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in IREN in the third quarter worth approximately $48,708,000. Institutional investors own 41.08% of the company's stock.

IREN Trading Up 2.8%

Shares of NASDAQ:IREN opened at $65.33 on Tuesday. 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 company has a market capitalization of $23.35 billion, a PE ratio of 136.10 and a beta of 4.22. IREN Limited has a 12-month low of $8.31 and a 12-month high of $76.87. The business's fifty day simple moving average is $48.17 and its 200-day simple moving average is $46.24.

IREN (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.03). The business had revenue of $144.80 million during the quarter, compared to analyst estimates of $219.69 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%. As a group, equities research analysts predict that IREN Limited will post -1.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IREN has been the topic of several research analyst reports. Canaccord Genuity Group reissued a "buy" rating and issued a $70.00 price objective on shares of IREN in a research note on Tuesday, February 10th. Weiss Ratings raised IREN from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on IREN from $39.00 to $46.00 and gave the stock an "underweight" rating in a research note on Monday, May 11th. Wall Street Zen lowered IREN from a "hold" rating to a "strong sell" rating in a report on Saturday, February 7th. Finally, B. Riley Financial lifted their price target on IREN from $83.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, IREN has a consensus rating of "Moderate Buy" and a consensus price target of $79.69.

Trending Headlines about IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN closed a $3.65 billion investment-grade GPU financing facility to support its AI Cloud contract with Microsoft, signaling access to institutional capital on favorable terms and helping fund most of the required GPU spending. IREN Closes $3.65bn Investment-Grade GPU Financing
• Positive Sentiment: The financing was described as the highest publicly rated investment-grade GPU financing and the first of its kind in the U.S. private placement market, which may boost confidence in IREN’s ability to scale its AI cloud business. IREN closes $3.65 billion GPU financing to back Microsoft AI cloud contract
• Positive Sentiment: IREN and BE Networks announced they are using NVIDIA DSX Air to create a digital twin of the planned AI factory before deployment, a step that could reduce execution risk for the rollout of more than 50,000 Blackwell Ultra GPUs. IREN and BE Networks Accelerate Deployment of Large-Scale AI Factory with NVIDIA DSX Air
• Neutral Sentiment: Recent commentary from analysts and media continues to frame IREN as a potential AI infrastructure winner, but these pieces are mostly sentiment-driven rather than new fundamental updates. Is Iren the Next Winner of Nvidia's Neocloud Spending Spree?
• Negative Sentiment: The market may still worry about execution risk, since IREN is undertaking a very large, capital-intensive AI buildout and must successfully deliver the Microsoft contract and GPU deployment on schedule. IREN’s Massive GPU Bet And Digital Twin Raise Execution Questions For Investors

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.