Pictet Asset Management Holding SA Grows Position in IREN Limited $IREN

Key Points

• Pictet Asset Management boosted its stake in IREN by 352.2% to 28,451 shares valued at $1.075M, and institutional ownership stands at about 41.08% with large recent buys from firms like Situational Awareness, Voloridge and Marshall Wace.
• IREN is executing an AI/cloud pivot highlighted by an all‑share ~\$625M Mirantis acquisition and energizing the first phase of its 2GW Sweetwater data center, moves that have helped spur a sharp rally in the stock.
• The company recently reported an EPS miss (‑$0.44 vs. ‑$0.07) and revenue down 23.1% YoY, while analysts remain mixed but show a consensus rating of "Moderate Buy" with a \$70.08 price target.

Pictet Asset Management Holding SA boosted its stake in IREN Limited (NASDAQ:IREN - Free Report) by 352.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,451 shares of the company's stock after buying an additional 22,160 shares during the quarter. Pictet Asset Management Holding SA's holdings in IREN were worth $1,075,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of IREN. Situational Awareness LP raised its position in IREN by 90.1% in the 2nd quarter. Situational Awareness LP now owns 6,400,384 shares of the company's stock valued at $93,254,000 after buying an additional 3,034,254 shares during the last quarter. Voloridge Investment Management LLC raised its position 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 valued at $77,555,000 after buying an additional 1,545,579 shares during the last quarter. Marshall Wace LLP raised its position in IREN by 247.7% in the 3rd quarter. Marshall Wace LLP now owns 2,032,397 shares of the company's stock valued at $95,380,000 after buying an additional 1,447,842 shares during the last quarter. Merewether Investment Management LP purchased a new stake in IREN in the 2nd quarter valued at $21,025,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in IREN in the 3rd quarter valued at $48,708,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

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IREN Stock Up 11.4%

Shares of NASDAQ:IREN opened at $60.98 on Thursday. The company has a market capitalization of $20.26 billion, a PE ratio of 45.85 and a beta of 4.17. 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 business has a fifty day moving average price of $42.37 and a two-hundred day moving average price of $46.74. IREN Limited has a 1 year low of $6.36 and a 1 year high of $76.87.

IREN (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.37). The business had revenue of $184.69 million during the quarter, compared to the consensus estimate of $229.64 million. IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The business's revenue was down 23.1% on a year-over-year basis. Analysts forecast that IREN Limited will post -0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wall Street Zen lowered IREN from a "hold" rating to a "strong sell" rating in a research report on Saturday, February 7th. HC Wainwright raised IREN from a "sell" rating to a "buy" rating and set a $80.00 price target for the company in a research report on Tuesday, January 13th. Freedom Capital upgraded IREN to a "hold" rating in a research note on Wednesday, April 1st. Canaccord Genuity Group restated a "buy" rating and issued a $70.00 price objective on shares of IREN in a research note on Tuesday, February 10th. Finally, Weiss Ratings downgraded IREN from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, April 22nd. Thirteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.08.

IREN News Roundup

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Acquisition of Mirantis adds Kubernetes orchestration, enterprise support and AI cloud software capabilities — expands IREN from infrastructure-only GPU capacity toward managed AI cloud delivery, which could lift margins and customer reach. IREN Announces Acquisition of Mirantis
• Positive Sentiment: Sweetwater 1 energization de-risks capacity expansion by delivering grid‑connected GPU/data‑center power for AI workloads — supports near‑term revenue potential as IREN brings capacity online. Iren energizes first phase of 2GW Sweetwater data center campus in Texas
• Positive Sentiment: Strong market reaction and momentum: multiple outlets highlight a sharp rally as investors re-rate IREN on AI strategy and execution progress. Short‑term sentiment has turned bullish. Why Is IREN Stock Surging On Wednesday?
• Neutral Sentiment: Deal structure is all‑share (≈$625M at signing) — preserves cash but dilutes existing holders; Mirantis is expected to operate as a standalone unit (less immediate synergies but lower short‑term integration drag). Iren to buy Mirantis for $625M
• Negative Sentiment: Recent quarterly results showed an EPS miss and revenue decline year‑over‑year — IREN still faces near‑term margin and revenue pressure from falling Bitcoin revenue and transition costs. IREN to Report Q3 Earnings: Should You Buy, Sell or Hold the Stock?
• Negative Sentiment: Execution and integration risk: investors should watch for closing conditions, regulatory review, how Mirantis is integrated, and whether software revenue ramps as projected — Seeking Alpha highlights the need to "show me the AI revenue." IREN: Show Me The AI Revenue

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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