SEB Asset Management AB Purchases Shares of 66,399 IREN Limited $IREN

Key Points

• SEB Asset Management AB reported a new first-quarter stake in IREN Limited, buying 66,399 shares worth about $2.28 million.
• IREN is drawing fresh investor attention after announcing $2.8 billion in new AI cloud contracts, which has improved the company’s growth outlook and helped support the stock.
• Analysts remain broadly positive on the name, with a Moderate Buy consensus and an average price target of $82.71, though IREN still carries notable volatility and mixed recent financial results.

SEB Asset Management AB bought a new stake in IREN Limited (NASDAQ:IREN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 66,399 shares of the company's stock, valued at approximately $2,276,000.

Other hedge funds have also recently bought and sold shares of the company. Miller Wealth Advisors LLC increased its position in shares of IREN by 240.0% during the 4th quarter. Miller Wealth Advisors LLC now owns 680 shares of the company's stock worth $26,000 after purchasing an additional 480 shares in the last quarter. North Star Investment Management Corp. acquired a new stake in shares of IREN in the fourth quarter valued at approximately $26,000. Clearstead Trust LLC bought a new stake in shares of IREN during the fourth quarter worth $27,000. Motco bought a new stake in IREN during the 4th quarter worth about $30,000. Finally, Purpose Unlimited Inc. bought a new stake in shares of IREN during the fourth quarter worth approximately $34,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IREN has been the topic of several analyst reports. Freedom Capital raised IREN from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. HC Wainwright boosted their price objective on shares of IREN from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday. Jefferies Financial Group began coverage on IREN in a research report on Thursday, June 18th. They set a "buy" rating and a $79.00 price target for the company. Compass Point restated a "buy" rating on shares of IREN in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on shares of IREN from $39.00 to $46.00 and gave the company an "underweight" rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.71.

Key Headlines Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN’s $2.8 billion in new AI cloud contracts and higher ARR target strengthen the company’s growth outlook and support the bull case for the stock.
• Positive Sentiment: Alphabet’s increased AI capex forecast lifted investor enthusiasm for AI infrastructure names, including IREN, improving sector momentum.
• Positive Sentiment: Canaccord Genuity reaffirmed a Buy rating on IREN, adding analyst support after the contract announcement.
• Neutral Sentiment: Commentary from Seeking Alpha and other outlets focused on IREN’s shift from bitcoin mining to AI infrastructure, which reinforces the long-term narrative but did not add new company-specific catalysts.
• Negative Sentiment: Despite the recent rally, some articles noted IREN has been volatile, with the stock still down sharply over the past 30 and 90 days before the latest contract-driven rebound.

IREN Trading Down 1.7%

Shares of NASDAQ:IREN opened at $40.58 on Friday. The company has a market capitalization of $14.50 billion, a P/E ratio of 84.54 and a beta of 4.27. IREN Limited has a 1 year low of $14.72 and a 1 year high of $76.87. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72. The business's 50 day simple moving average is $51.00 and its 200 day simple moving average is $47.67.

IREN (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.03). The company had revenue of $144.79 million for the quarter, compared to the consensus estimate of $219.69 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%. On average, research analysts anticipate that IREN Limited will post -1.85 EPS for the current fiscal year.

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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