International Assets Investment Management LLC Invests $939,000 in IREN Limited $IREN

Key Points

• International Assets Investment Management LLC opened a new position in IREN Limited during the fourth quarter, buying 24,864 shares valued at about $939,000.
• Institutional interest in IREN remains meaningful, with hedge funds and other investors owning 41.08% of the stock and several firms adding or initiating positions in recent quarters.
• Analyst sentiment is mixed but generally constructive: IREN has a Moderate Buy consensus and an average price target of $71.23, even as some firms issued downgrades and the company recently missed quarterly earnings and revenue estimates.

International Assets Investment Management LLC acquired a new position in IREN Limited (NASDAQ:IREN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 24,864 shares of the company's stock, valued at approximately $939,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Centaurus Financial Inc. grew its stake in shares of IREN by 1.1% in the third quarter. Centaurus Financial Inc. now owns 31,482 shares of the company's stock worth $1,477,000 after acquiring an additional 332 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of IREN by 26.7% in the third quarter. Larson Financial Group LLC now owns 1,590 shares of the company's stock worth $75,000 after acquiring an additional 335 shares during the last quarter. Miller Wealth Advisors LLC grew its stake in shares of IREN by 240.0% in the fourth quarter. Miller Wealth Advisors LLC now owns 680 shares of the company's stock worth $26,000 after acquiring an additional 480 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of IREN in the third quarter worth $25,000. Finally, North Star Investment Management Corp. acquired a new stake in shares of IREN in the fourth quarter worth $26,000. Institutional investors and hedge funds own 41.08% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IREN. Wall Street Zen downgraded shares of IREN from a "hold" rating to a "strong sell" rating in a research note on Saturday, February 7th. BTIG Research raised their price objective on shares of IREN to $80.00 and gave the stock a "buy" rating in a research note on Friday. Cantor Fitzgerald decreased their price target on shares of IREN to $61.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Weiss Ratings downgraded shares of IREN from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, April 22nd. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $44.00 price target on shares of IREN in a research note on Friday. Thirteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $71.23.

More IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN signed a $3.4 billion AI cloud contract with NVIDIA and announced a strategic partnership tied to up to 5GW of AI infrastructure, boosting confidence in its AI transition. IREN Secures $3.4bn AI Cloud Contract with NVIDIA
• Positive Sentiment: NVIDIA’s option to invest up to $2.1 billion at $70 per share is being viewed as a strong endorsement of IREN’s infrastructure value and growth strategy. Nvidia to invest up to $2.1 billion in IREN as part of AI data center deal
• Positive Sentiment: Analysts turned more constructive, with BTIG and HC Wainwright raising targets to $80 and $85, respectively, implying more upside if execution continues. Benzinga analyst target updates
• Neutral Sentiment: IREN reported weaker-than-expected quarterly revenue and a wider net loss, but investors are largely looking past the results and focusing on future AI cloud growth. IREN Limited's Q3 Net Loss Widens Q/Q, Revenues Decline
• Neutral Sentiment: IREN expanded into Europe by agreeing to acquire Nostrum Group in Spain, adding about 490MW of secured power and a new development pipeline, which supports longer-term growth but still needs to close. IREN Expands AI Cloud Platform to Europe with Acquisition of Nostrum Group
• Negative Sentiment: Despite the upbeat AI narrative, IREN’s traditional Bitcoin-mining business continues to weaken, and the company still faces execution risk, dilution risk from convertibles, and heavy capex demands. IREN: Many Do Not Understand This Stock Is Undervalued Due To Its Assets

IREN Stock Up 7.7%

IREN opened at $61.20 on Friday. IREN Limited has a fifty-two week low of $6.77 and a fifty-two week high of $76.87. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.96 and a quick ratio of 4.96. The firm's fifty day moving average price is $42.59 and its two-hundred day moving average price is $46.71. The company has a market capitalization of $20.34 billion, a P/E ratio of 127.50 and a beta of 4.17.

IREN (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. 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 for the quarter, compared to analyst estimates of $219.69 million. IREN had a negative return on equity of 10.01% and a net margin of 56.59%. On average, analysts anticipate that IREN Limited will post -0.8 EPS for the current 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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