Private Advisor Group LLC Reduces Stock Holdings in IREN Limited $IREN

Key Points

• Private Advisor Group LLC cut its IREN stake by 15.5% in the first quarter, selling 148,916 shares and leaving it with 813,070 shares worth about $27.9 million. Despite the reduction, institutional ownership in IREN remains significant at 41.08%.
• IREN’s latest earnings disappointed, with EPS of -$0.25 versus expectations for -$0.22 and revenue of $144.79 million versus the $219.69 million estimate. Analysts still expect the company to post a full-year loss.
• Wall Street sentiment remains mostly constructive on IREN’s AI data center pivot, with several firms raising price targets and Bernstein reiterating a Buy rating with a $100 target. However, governance and dilution concerns have also emerged after large founder equity awards and other compensation-related criticism.

Private Advisor Group LLC lessened its holdings in shares of IREN Limited (NASDAQ:IREN - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 813,070 shares of the company's stock after selling 148,916 shares during the period. Private Advisor Group LLC owned approximately 0.24% of IREN worth $27,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. lifted its position in IREN by 45.9% during the second quarter. Invesco Ltd. now owns 2,974,674 shares of the company's stock valued at $43,341,000 after purchasing an additional 936,333 shares during the period. StoneX Group Inc. acquired a new stake in IREN during the 2nd quarter worth about $158,000. NewEdge Advisors LLC grew its position in IREN by 245.0% during the 2nd quarter. NewEdge Advisors LLC now owns 43,281 shares of the company's stock worth $631,000 after purchasing an additional 30,736 shares during the period. Sei Investments Co. purchased a new position in shares of IREN during the 2nd quarter valued at about $2,333,000. Finally, Peapack Gladstone Financial Corp raised its stake in shares of IREN by 30.0% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 18,200 shares of the company's stock valued at $265,000 after buying an additional 4,200 shares during the last quarter. Hedge funds and other institutional investors own 41.08% of the company's stock.

IREN Price Performance

IREN stock opened at $38.82 on Friday. The company's fifty day moving average price is $54.72 and its 200 day moving average price is $47.54. IREN Limited has a 1 year low of $14.72 and a 1 year high of $76.87. The stock has a market capitalization of $13.87 billion, a P/E ratio of 80.88 and a beta of 4.27. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72.

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

Key IREN News

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 have recently issued reports on IREN. Cantor Fitzgerald boosted their price objective on IREN from $77.00 to $99.00 and gave the company an "overweight" rating in a report on Thursday, May 28th. Weiss Ratings raised IREN from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 29th. B. Riley Financial lifted their price target on IREN from $88.00 to $96.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. The Goldman Sachs Group set a $50.00 price target on IREN in a report on Wednesday, May 27th. Finally, HC Wainwright upped their price objective on IREN to $85.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, IREN has an average rating of "Moderate Buy" and an average price target of $82.36.

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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