SG Americas Securities LLC Purchases 26,012 Shares of IREN Limited $IREN

Key Points

• SG Americas Securities LLC boosted its IREN stake by 18.7% in the first quarter, buying 26,012 additional shares and bringing its total holdings to 165,402 shares worth about $5.67 million.
• Institutional interest in IREN remains significant, with hedge funds and other investors owning 41.08% of the company. Several firms have made large new or expanded positions in recent quarters.
• Analysts are broadly positive on the stock: IREN has a Moderate Buy consensus rating and a consensus price target of $82.36, even though the company recently missed quarterly EPS and revenue estimates.

SG Americas Securities LLC increased its position in IREN Limited (NASDAQ:IREN - Free Report) by 18.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 165,402 shares of the company's stock after purchasing an additional 26,012 shares during the period. SG Americas Securities LLC's holdings in IREN were worth $5,670,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Marex Group plc grew its position in shares of IREN by 14,216.7% in the 4th quarter. Marex Group plc now owns 4,471,263 shares of the company's stock worth $168,880,000 after buying an additional 4,440,032 shares during the period. BNP Paribas Financial Markets purchased a new position in IREN during the 4th quarter valued at about $158,677,000. Clear Street Group Inc. purchased a new position in IREN during the 4th quarter valued at about $137,075,000. Situational Awareness LP boosted its stake in IREN by 90.1% during the second quarter. Situational Awareness LP now owns 6,400,384 shares of the company's stock worth $93,254,000 after acquiring an additional 3,034,254 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its stake in IREN by 1,022.2% during the fourth quarter. Quadrature Capital Ltd now owns 2,870,637 shares of the company's stock worth $108,424,000 after acquiring an additional 2,614,835 shares in the last quarter. Hedge funds and other institutional investors own 41.08% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on IREN. Weiss Ratings raised shares of IREN from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, May 29th. Sanford C. Bernstein set a $96.00 price target on IREN in a research report on Thursday, June 4th. Jefferies Financial Group initiated coverage on IREN in a research note on Thursday, June 18th. They issued a "buy" rating and a $79.00 price target on the stock. BTIG Research raised their price objective on IREN to $80.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Finally, Freedom Capital upgraded IREN to a "hold" rating in a research note on Wednesday, April 1st. Fourteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, IREN currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.36.

IREN News Summary

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN announced a multi-year sponsorship with the Golden State Warriors and Chase Center, including jersey patch branding. The deal was described in reports as one of the largest in North American sports, which could boost brand visibility and investor interest. Warriors, Chase Center announce new multi-year sponsorship with IREN Limited
• Positive Sentiment: Analyst coverage highlighted IREN’s contracted AI capacity and Blackwell GPU expansion as potential drivers of future revenue growth, suggesting the company may be able to monetize more of its AI infrastructure as deployments come online. Can IREN's Contracted AI Capacity Support Future Revenue Growth?
• Neutral Sentiment: IREN is still being included in “top Bitcoin stocks” watchlists, reflecting continued interest in the company’s exposure to bitcoin and related infrastructure themes. Top Bitcoin Stocks To Follow Now - June 25th
• Neutral Sentiment: Local officials tabled a tax incentive for IREN’s planned 1.2 GW AI site in Oklahoma, creating some uncertainty around the project timeline and economics. Commissioners table tax incentive for IREN’s 1.2 GW AI site in Pittsburg County, Oklahoma
• Negative Sentiment: Unusual options activity showed a large surge in put buying, which often signals traders are positioning for downside or hedging against a pullback in IREN shares. Unusual options trading in IREN

IREN Price Performance

Shares of IREN stock opened at $47.21 on Monday. The company has a 50-day simple moving average of $55.23 and a two-hundred day simple moving average of $47.61. The stock has a market capitalization of $16.87 billion, a PE ratio of 98.35 and a beta of 4.22. IREN Limited has a 52-week low of $13.09 and a 52-week high of $76.87. 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 posted its quarterly earnings results on Friday, May 8th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.03). The firm had revenue of $144.79 million for the quarter, compared to analysts' expectations of $219.69 million. IREN had a net margin of 20.90% and a negative return on equity of 13.13%. On average, analysts anticipate that IREN Limited will post -1.25 EPS for the current fiscal year.

About IREN

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.