Engineers Gate Manager LP Has $3.20 Million Holdings in IREN Limited $IREN

Key Points

• Engineers Gate Manager LP cut its IREN position by 44.9% in the second quarter, selling 57,025 shares and retaining 69,883 shares valued at approximately $3.20 million.
• Institutional interest remains substantial, with California State Teachers Retirement System and other funds significantly increasing their holdings; institutional investors collectively own 41.08% of IREN.
• IREN’s AI infrastructure pivot is attracting investor interest, but concerns remain about proving its targeted $1 billion AI revenue run rate and managing financing obligations. Analysts have a “Moderate Buy” consensus with an average price target of $81.57.

Engineers Gate Manager LP decreased its position in IREN Limited (NASDAQ:IREN - Free Report) by 44.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 69,883 shares of the company's stock after selling 57,025 shares during the quarter. Engineers Gate Manager LP's holdings in IREN were worth $3,196,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IREN. California State Teachers Retirement System raised its holdings in shares of IREN by 6,197.8% in the second quarter. California State Teachers Retirement System now owns 22,963,091 shares of the company's stock valued at $1,050,102,000 after buying an additional 22,598,469 shares during the last quarter. Situational Awareness LP boosted its position in shares of IREN by 34.5% in the 1st quarter. Situational Awareness LP now owns 11,698,835 shares of the company's stock worth $401,036,000 after purchasing an additional 2,998,214 shares during the last quarter. Marex Group plc boosted its holdings in 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 buying an additional 4,440,032 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of IREN during the 4th quarter worth about $158,677,000. Finally, Clear Street Group Inc. acquired a new position in shares of IREN during the 4th quarter worth about $137,075,000. Institutional investors and hedge funds own 41.08% of the company's stock.

IREN News Summary

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN is being highlighted as one of several former bitcoin miners positioned to become “AI landlords” by leasing power and data-center capacity to hyperscalers and AI companies. The potential for large, long-term contracts supports the company’s AI growth narrative. Bitcoin Miners Are Turning Into AI Landlords
• Positive Sentiment: IREN shares moved higher in premarket trading alongside CoreWeave and Nebius, reflecting continued investor interest in publicly traded “neocloud” companies that can supply infrastructure for AI training and inference. Why Are CoreWeave, NBIS, and IREN Rising
• Positive Sentiment: IREN’s Sweetwater announcement may indicate that the company controls a larger potential power and data-center pipeline than its publicly disclosed gigawatt figures suggest. A larger pipeline could improve its ability to capture future AI demand. IREN’s Sweetwater Announcement
• Neutral Sentiment: Recent coverage continues to frame IREN as a potential beneficiary of accelerating AI infrastructure demand, but the investment case depends on converting available computing capacity into sustainable revenue. Is IREN Stock a Buy Now?
• Negative Sentiment: IREN pulled back after co-CEO Daniel Roberts said investors want proof of the company’s targeted $1 billion AI revenue run rate. The comments reinforced concerns about execution, delivery of AI capacity, and the timing of revenue realization. IREN Stock Slides as Investors Demand Proof
• Negative Sentiment: Reports also raised questions about IREN’s $2.4 billion Blue Owl financing arrangement and a referenced $684 million obligation, adding balance-sheet and financing scrutiny to the AI expansion story. IREN’s Blue Owl Financing

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IREN shares. Morgan Stanley lowered shares of IREN to a "buy" rating in a research note on Wednesday, September 2nd. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 target price on shares of IREN in a research note on Friday, August 28th. Freedom Capital raised shares of IREN from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. Needham & Company LLC reiterated a "hold" rating on shares of IREN in a report on Tuesday, July 21st. Finally, The Goldman Sachs Group reissued a "neutral" rating on shares of IREN in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $81.57.

IREN Stock Performance

Shares of IREN stock opened at $43.83 on Monday. IREN Limited has a 52 week low of $28.93 and a 52 week high of $76.87. The company has a market capitalization of $17.27 billion, a price-to-earnings ratio of -18.73 and a beta of 4.28. The company has a 50-day simple moving average of $40.29 and a 200 day simple moving average of $45.56. The company has a debt-to-equity ratio of 1.80, a quick ratio of 3.55 and a current ratio of 3.55.

IREN Company Profile

IREN Limited, formerly known as Iris Energy Limited, is a data center infrastructure company focused on high-performance computing. The company develops and operates data centers powered by renewable energy and uses this infrastructure primarily for Bitcoin mining and, increasingly, artificial intelligence and other GPU-intensive cloud-computing applications.

IREN designs, builds and operates its own data centers, providing access to electrical power, computing hardware and related infrastructure.

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