Bank of New York Mellon Corp Acquires 222,596 Shares of IREN Limited $IREN

Key Points

• Bank of New York Mellon increased its IREN stake by 1,058.2% in the first quarter, buying 222,596 additional shares and bringing its holdings to 243,631 shares valued at approximately $8.35 million.
• Wall Street sentiment remains favorable, with IREN receiving a “Moderate Buy” consensus rating and an average price target of $82.71; several analysts recently raised targets to $96–$99.
• Despite optimism about IREN’s AI computing expansion and reported contract pipeline, the company missed its latest earnings and revenue estimates, while its high volatility and valuation leave the stock exposed if AI growth fails to translate into cash flow.

Bank of New York Mellon Corp grew its stake in IREN Limited (NASDAQ:IREN - Free Report) by 1,058.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,631 shares of the company's stock after purchasing an additional 222,596 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.07% of IREN worth $8,352,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Miller Wealth Advisors LLC grew its position in shares of IREN by 240.0% in the fourth quarter. Miller Wealth Advisors LLC now owns 680 shares of the company's stock valued at $26,000 after purchasing an additional 480 shares during the last quarter. North Star Investment Management Corp. bought a new stake in IREN in the 4th quarter valued at $26,000. Clearstead Trust LLC acquired a new position in IREN in the 4th quarter valued at $27,000. Motco acquired a new position in IREN in the 4th quarter valued at $30,000. Finally, Purpose Unlimited Inc. bought a new position in IREN during the 4th quarter worth $34,000. Institutional investors and hedge funds own 41.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IREN shares. Canaccord Genuity Group reissued a "buy" rating and issued a $79.00 target price on shares of IREN in a research report on Tuesday, July 21st. B. Riley Financial raised their price target on shares of IREN from $88.00 to $96.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. Cantor Fitzgerald boosted their price objective on shares of IREN from $77.00 to $99.00 and gave the company an "overweight" rating in a report on Thursday, May 28th. The Goldman Sachs Group restated a "neutral" rating on shares of IREN in a research report on Monday, July 20th. Finally, Sanford C. Bernstein set a $96.00 target price on shares of IREN in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, IREN currently has an average rating of "Moderate Buy" and an average target price of $82.71.

IREN News Roundup

Here are the key news stories impacting IREN this week:

• Positive Sentiment: CEO Daniel Roberts said demand for IREN’s AI computing capacity is exceeding the company’s ability to build supply. The comments reinforced the bullish view that IREN can monetize its power portfolio and GPU infrastructure in the rapidly expanding AI market. Bitcoin Miner IREN Stock Surges 30% After CEO Says Demand Outstrips Supply
• Positive Sentiment: IREN participated in a broad rally among bitcoin miners repositioning as AI and “neocloud” infrastructure providers. CoreWeave and Nebius also surged, suggesting sector-wide buying rather than an IREN-only catalyst. CRWV, NBIS, IREN: Why Are Neocloud Stocks Soaring Today — July 30, 2026?
• Positive Sentiment: Analysts highlighted IREN’s reported $2.8 billion AI contract pipeline, its large GPU partnership and substantial power portfolio. Compared with TeraWulf and Cipher Mining, which have outperformed in 2026, IREN’s lagging performance has fueled a possible “catch-up” trade thesis. TeraWulf and Cipher Digital Are up 50% in 2026 While IREN Lags Behind
• Neutral Sentiment: Despite the AI opportunity, IREN remains about 60% below its peak, indicating that investors continue to demand evidence that contracts will translate into revenue, cash flow and profitable growth. September earnings are viewed as the next major test. IREN stock down 60% from peak despite record $2.8B AI contract haul
• Negative Sentiment: IREN’s latest reported quarter missed expectations, with a $0.25 loss per share versus a $0.22 loss estimate and revenue of $144.8 million versus a $219.7 million consensus. The stock also trades with high volatility and elevated valuation metrics, increasing the risk of sharp reversals if AI growth disappoints.

IREN Stock Performance

NASDAQ:IREN opened at $36.80 on Monday. The stock has a market cap of $13.15 billion, a P/E ratio of 76.67 and a beta of 4.29. 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's 50-day moving average is $48.86 and its 200-day moving average is $47.19. IREN Limited has a 1-year low of $14.72 and a 1-year high of $76.87.

IREN (NASDAQ:IREN - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $144.79 million during the quarter, compared to analyst estimates of $219.69 million. Equities research analysts anticipate that IREN Limited will post -1.96 earnings per share for the current year.

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.

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