Continuum Advisory LLC Trims Position in IREN Limited $IREN

Key Points

• Continuum Advisory LLC cut its IREN stake by 37.6% in the fourth quarter, selling 27,036 shares and leaving it with 44,795 shares valued at about $1.69 million.
• Investor sentiment around IREN remains mixed but increasingly focused on its AI/data center expansion, especially after it secured a transmission connection agreement for its planned 800 MW campus in South Australia. Several analysts have raised price targets, including B. Riley to $96 and Cantor Fitzgerald to $99.
• The stock has been volatile despite its strong rally: IREN recently traded at $54.35, after a big run-up, and it is still sensitive to bitcoin price swings even as the company pivots beyond crypto mining.

Continuum Advisory LLC decreased its position in shares of IREN Limited (NASDAQ:IREN - Free Report) by 37.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 44,795 shares of the company's stock after selling 27,036 shares during the period. Continuum Advisory LLC's holdings in IREN were worth $1,692,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in IREN. BNP Paribas Financial Markets acquired a new stake in IREN in the 4th quarter worth about $158,677,000. Situational Awareness LP boosted its stake in IREN by 90.1% in the 2nd quarter. Situational Awareness LP now owns 6,400,384 shares of the company's stock worth $93,254,000 after buying an additional 3,034,254 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in IREN by 1,444.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,652,577 shares of the company's stock worth $77,555,000 after buying an additional 1,545,579 shares during the last quarter. Marshall Wace LLP boosted its stake in IREN by 247.7% in the 3rd quarter. Marshall Wace LLP now owns 2,032,397 shares of the company's stock worth $95,380,000 after buying an additional 1,447,842 shares during the last quarter. Finally, Merewether Investment Management LP acquired a new stake in IREN in the 2nd quarter worth about $21,025,000. Hedge funds and other institutional investors own 41.08% of the company's stock.

Key Stories Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: B. Riley raised its price target on IREN to $96 from $88 and kept a buy rating after the company secured a transmission connection agreement for its planned 800 MW data center campus in South Australia, reinforcing optimism around its AI/data center expansion. B. Riley raises IREN price target to $96 after 800 MW South Australia data center agreement
• Positive Sentiment: Coverage on IREN highlighted the company as an “AI powerhouse in play,” reflecting growing investor interest in its pivot toward AI cloud and data center infrastructure rather than just bitcoin mining. IREN Limited: An AI Powerhouse In Play
• Positive Sentiment: Reuters reported that several crypto/data center projects in Texas failed voltage tests, which could underscore the value of IREN’s stronger grid-planning and transmission agreements for future expansion. Texas grid flags risks as data centers, crypto sites fail voltage tests
• Neutral Sentiment: Recent articles noted IREN’s shares had already rallied sharply in May after first-quarter earnings and a new partnership with Nvidia, but some investors are now questioning whether the move has gone too far. Why IREN Limited Rallied Almost 40% in May
• Negative Sentiment: Crypto-linked equities weakened amid a renewed bitcoin pullback, and IREN was cited as one of the names sold off on that move; the stock is still sensitive to bitcoin swings despite its AI transition. IREN slides 5.7% as crypto-linked equities weaken amid renewed bitcoin pullback
• Negative Sentiment: Market commentary also pointed to profit-taking after IREN’s strong multi-month run, with concerns about bitcoin mining revenue volatility, impairment charges, and competition in AI data centers. IREN Stock Rises 60% in 3 Months: Time to Hold or Book Profits?

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. B. Riley Financial raised their price target on IREN from $88.00 to $96.00 and gave the stock a "buy" rating in a research note on Thursday. The Goldman Sachs Group set a $50.00 price target on IREN in a research note on Wednesday, May 27th. HC Wainwright raised their price target on IREN to $85.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. JPMorgan Chase & Co. raised their price target on IREN from $39.00 to $46.00 and gave the stock an "underweight" rating in a research note on Monday, May 11th. Finally, Cantor Fitzgerald raised their price target on IREN from $77.00 to $99.00 and gave the stock an "overweight" rating in a research note on Thursday, May 28th. Thirteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.62.

IREN Price Performance

Shares of IREN stock opened at $54.35 on Friday. The firm has a market cap of $19.42 billion, a P/E ratio of 113.23 and a beta of 4.22. 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 Limited has a 1-year low of $9.08 and a 1-year high of $76.87. The firm has a fifty day moving average of $49.82 and a two-hundred day moving average of $46.60.

IREN (NASDAQ:IREN - Get Free Report) last announced 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 $144.80 million for the quarter, compared to analyst estimates of $219.69 million. As a group, research analysts anticipate that IREN Limited will post -1.17 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.

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