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

SEB Asset Management AB bought a new stake in IREN Limited (NASDAQ:IREN) in the 1st quarter, Holdings Channel reports. The institutional investor bought 66,399 shares of the company’s stock, valued at approximately $2,276,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Marex Group plc boosted its position in shares of IREN by 14,216.7% during the 4th 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 in the last quarter. BNP Paribas Financial Markets acquired a new position in IREN during the fourth quarter valued at approximately $158,677,000. Clear Street Group Inc. acquired a new position in IREN during the fourth quarter valued at approximately $137,075,000. Situational Awareness LP lifted 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 purchasing an additional 3,034,254 shares during the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in shares of IREN by 1,022.2% in the 4th quarter. Quadrature Capital Ltd now owns 2,870,637 shares of the company’s stock valued at $108,424,000 after purchasing an additional 2,614,835 shares in the last quarter. Institutional investors own 41.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on IREN. Freedom Capital upgraded IREN from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. BTIG Research upped their price objective on IREN to $80.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Compass Point reaffirmed a “buy” rating on shares of IREN in a research note on Tuesday. Weiss Ratings cut IREN from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 7th. Finally, HC Wainwright boosted their target price on IREN from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.71.

IREN Price Performance

Shares of IREN opened at $40.58 on Friday. 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 company has a market capitalization of $14.50 billion, a price-to-earnings ratio of 84.54 and a beta of 4.27. The business has a 50-day moving average of $51.00 and a 200-day moving average of $47.67.

IREN (NASDAQ:IREN) 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). 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 during the quarter, compared to analyst estimates of $219.69 million. As a group, equities research analysts anticipate that IREN Limited will post -1.85 earnings per share for the current year.

IREN News Roundup

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 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.