GM Advisory Group LLC Grows Holdings in IREN Limited $IREN

GM Advisory Group LLC raised its holdings in shares of IREN Limited (NASDAQ:IREN) by 119.4% in the 1st quarter, Holdings Channel reports. The firm owned 109,515 shares of the company’s stock after purchasing an additional 59,603 shares during the quarter. GM Advisory Group LLC’s holdings in IREN were worth $3,754,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. boosted its holdings in shares of IREN by 257.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 26,958 shares of the company’s stock valued at $1,018,000 after purchasing an additional 19,423 shares during the period. Sanctuary Advisors LLC increased its holdings in IREN by 282.2% during the 4th quarter. Sanctuary Advisors LLC now owns 46,224 shares of the company’s stock worth $1,746,000 after purchasing an additional 34,129 shares during the period. Avaii Wealth Management LLC increased its holdings in IREN by 208.9% during the 4th quarter. Avaii Wealth Management LLC now owns 145,767 shares of the company’s stock worth $5,506,000 after purchasing an additional 98,581 shares during the period. Private Advisor Group LLC raised its position in IREN by 12.7% during the 3rd quarter. Private Advisor Group LLC now owns 781,666 shares of the company’s stock valued at $36,684,000 after purchasing an additional 88,081 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in IREN during the 4th quarter valued at $939,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

IREN Stock Performance

Shares of IREN stock opened at $38.82 on Friday. The company has a 50 day moving average price of $54.72 and a 200 day moving average price of $47.54. The firm 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 quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44. IREN Limited has a 52 week low of $14.72 and a 52 week high of $76.87.

IREN (NASDAQ:IREN) last released its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share 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 company had revenue of $144.79 million for the quarter, compared to analysts’ expectations of $219.69 million. Sell-side analysts expect that IREN Limited will post -1.25 EPS for the current year.

Key Headlines Impacting IREN

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 Ratings Changes

IREN has been the subject of several research reports. Jefferies Financial Group began coverage on IREN in a report on Thursday, June 18th. They issued a “buy” rating and a $79.00 target price for the company. HC Wainwright raised their price target on IREN to $85.00 and gave the company a “buy” rating in a research note on Friday, May 8th. BTIG Research lifted their price objective on IREN to $80.00 and gave the company a “buy” rating in a report on Friday, May 8th. B. Riley Financial upped their price objective on shares of IREN from $88.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, Sanford C. Bernstein set a $96.00 price objective on shares of IREN in a research note on Thursday, June 4th. Fourteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.