IFM Investors Pty Ltd Buys Shares of 68,583 IREN Limited $IREN

IFM Investors Pty Ltd bought a new position in IREN Limited (NASDAQ:IREN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 68,583 shares of the company's stock, valued at approximately $2,351,000.

Other hedge funds have also modified their holdings of the company. Oppenheimer & Co. Inc. increased its position in shares of IREN by 257.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 26,958 shares of the company's stock worth $1,018,000 after purchasing an additional 19,423 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of IREN by 282.2% during the 4th quarter. Sanctuary Advisors LLC now owns 46,224 shares of the company's stock valued at $1,746,000 after purchasing an additional 34,129 shares during the last quarter. Avaii Wealth Management LLC boosted its position in shares of IREN by 208.9% in the 4th quarter. Avaii Wealth Management LLC now owns 145,767 shares of the company's stock worth $5,506,000 after purchasing an additional 98,581 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of IREN by 12.7% in the 3rd quarter. Private Advisor Group LLC now owns 781,666 shares of the company's stock worth $36,684,000 after purchasing an additional 88,081 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in IREN during the 4th quarter worth $939,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

IREN Stock Performance

IREN stock opened at $38.82 on Friday. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44. IREN Limited has a 52 week low of $14.72 and a 52 week high of $76.87. The company has a market capitalization of $13.87 billion, a price-to-earnings ratio of 80.88 and a beta of 4.27. The stock has a 50-day moving average price of $54.72 and a 200 day moving average price of $47.54.

IREN (NASDAQ:IREN - Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). IREN had a negative return on equity of 13.13% and a net margin of 20.90%.The business had revenue of $144.79 million during the quarter, compared to analyst estimates of $219.69 million. Sell-side analysts anticipate that IREN Limited will post -1.25 EPS for the current year.

IREN News Summary

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IREN. HC Wainwright upped their target price on IREN to $85.00 and gave the company a "buy" rating in a research report 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 report on Monday, May 11th. The Goldman Sachs Group set a $50.00 price target on IREN in a research note on Wednesday, May 27th. Cantor Fitzgerald upped 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. Finally, Freedom Capital raised shares of IREN to a "hold" rating in a research report on Wednesday, April 1st. Fourteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $82.36.

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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