Meridian Wealth Management LLC Purchases 31,364 Shares of IREN Limited $IREN

Meridian Wealth Management LLC boosted its position in shares of IREN Limited (NASDAQ:IREN) by 49.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,182 shares of the company’s stock after purchasing an additional 31,364 shares during the period. Meridian Wealth Management LLC’s holdings in IREN were worth $3,595,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Centaurus Financial Inc. increased its holdings in IREN by 1.1% during the 3rd quarter. Centaurus Financial Inc. now owns 31,482 shares of the company’s stock worth $1,477,000 after purchasing an additional 332 shares in the last quarter. Larson Financial Group LLC increased its holdings in IREN by 26.7% during the 3rd quarter. Larson Financial Group LLC now owns 1,590 shares of the company’s stock worth $75,000 after purchasing an additional 335 shares in the last quarter. Miller Wealth Advisors LLC increased its holdings in 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. Global Retirement Partners LLC bought a new position in IREN during the 3rd quarter worth about $25,000. Finally, North Star Investment Management Corp. bought a new position in IREN during the 4th quarter worth about $26,000. Institutional investors own 41.08% of the company’s stock.

IREN Price Performance

Shares of NASDAQ IREN opened at $56.56 on Wednesday. The stock has a market capitalization of $18.79 billion, a price-to-earnings ratio of 117.83 and a beta of 4.17. The business has a 50-day moving average of $43.47 and a 200-day moving average of $46.76. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 4.96. IREN Limited has a fifty-two week low of $7.35 and a fifty-two week high of $76.87.

IREN (NASDAQ:IREN) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). IREN had a negative return on equity of 13.13% and a net margin of 20.90%.The firm had revenue of $144.80 million for the quarter, compared to the consensus estimate of $219.69 million. As a group, sell-side analysts predict that IREN Limited will post -1.09 earnings per share for the current fiscal year.

Key Stories Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN’s $3.4 billion NVIDIA cloud contract validates its AI pivot and supports a much larger recurring-revenue opportunity. Article: Can NVIDIA Partnership Help IREN Reach $3.7B AI Cloud ARR Target?
• Positive Sentiment: Analysts remain constructive, with multiple firms reiterating or maintaining bullish ratings and high price targets despite near-term volatility. Article: IREN (NASDAQ:IREN) Price Target Raised to $46.00 at JPMorgan Chase & Co.
• Neutral Sentiment: The upsized convertible note sale strengthens IREN’s funding base for AI data center expansion, but the financing structure also introduces dilution and debt overhang concerns. Article: IREN Limited Prices $2.6 Billion Offering of Convertible Senior Notes Due 2033
• Negative Sentiment: HC Wainwright trimmed several near-term earnings estimates, highlighting that profitability may stay pressured while IREN invests heavily in the AI buildout. Article: IREN Limited analyst estimate changes

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a report on Monday. B. Riley Financial reiterated a “buy” rating on shares of IREN in a report on Friday, February 6th. HC Wainwright increased their target price on IREN to $85.00 and gave the stock a “buy” rating in a report on Friday, May 8th. BTIG Research increased their target price on IREN to $80.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Weiss Ratings cut IREN from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 22nd. Thirteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.77.

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.