IFM Investors Pty Ltd Makes New $2.35 Million Investment in IREN Limited $IREN

IFM Investors Pty Ltd acquired a new stake in shares of IREN Limited (NASDAQ:IREN) in the first quarter, Holdings Channel.com reports. The firm acquired 68,583 shares of the company’s stock, valued at approximately $2,351,000.

Other institutional investors have also modified their holdings of the company. Situational Awareness LP lifted its holdings in shares of IREN by 20.5% in the 4th quarter. Situational Awareness LP now owns 8,700,621 shares of the company’s stock valued at $328,622,000 after buying an additional 1,480,200 shares during the period. Marex Group plc grew its holdings in IREN by 14,216.7% during the fourth quarter. Marex Group plc now owns 4,471,263 shares of the company’s stock worth $168,880,000 after acquiring an additional 4,440,032 shares during the period. BNP Paribas Financial Markets acquired a new stake in IREN during the fourth quarter worth about $158,677,000. Value Aligned Research Advisors LLC raised its position in IREN by 18.6% during the third quarter. Value Aligned Research Advisors LLC now owns 3,873,337 shares of the company’s stock valued at $181,776,000 after acquiring an additional 607,189 shares in the last quarter. Finally, Clear Street Group Inc. purchased a new position in IREN during the fourth quarter valued at approximately $137,075,000. 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 stock has a market capitalization of $13.87 billion, a PE ratio of 80.88 and a beta of 4.27. IREN Limited has a 12 month low of $14.72 and a 12 month high of $76.87. The business has a 50 day simple moving average of $54.72 and a 200-day simple moving average of $47.54. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72.

IREN (NASDAQ:IREN) last announced its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). IREN had a net margin of 20.90% and a negative return on equity of 13.13%. The business had revenue of $144.79 million for the quarter, compared to analysts’ expectations of $219.69 million. On average, analysts anticipate that IREN Limited will post -1.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Weiss Ratings upgraded IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. Jefferies Financial Group began coverage on shares of IREN in a report on Thursday, June 18th. They set a “buy” rating and a $79.00 target price for the company. B. Riley Financial boosted their target price on shares of IREN from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Canaccord Genuity Group increased their price target on shares of IREN from $70.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Finally, Cantor Fitzgerald increased their price target on shares of IREN from $77.00 to $99.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Fourteen equities 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.36.

IREN News Roundup

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

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.