SG Americas Securities LLC Grows Position in IREN Limited $IREN

SG Americas Securities LLC increased its holdings in IREN Limited (NASDAQ:IREN) by 18.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor 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 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of IREN. Miller Wealth Advisors LLC lifted its stake in IREN by 240.0% during the 4th quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock valued at $26,000 after acquiring an additional 480 shares during the period. North Star Investment Management Corp. purchased a new stake in shares of IREN during the 4th quarter valued at about $26,000. Clearstead Trust LLC bought a new stake in shares of IREN in the fourth quarter worth approximately $27,000. Aventura Private Wealth LLC bought a new stake in shares of IREN in the fourth quarter worth approximately $28,000. Finally, Motco purchased a new position in shares of IREN during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Canaccord Genuity Group increased their price objective on shares of IREN from $70.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Jefferies Financial Group assumed coverage on shares of IREN in a research report on Thursday, June 18th. They issued a “buy” rating and a $79.00 target price for the company. Freedom Capital upgraded shares of IREN to a “hold” rating in a research note on Wednesday, April 1st. Sanford C. Bernstein set a $96.00 target price on shares of IREN in a research note on Thursday, June 4th. Finally, The Goldman Sachs Group set a $50.00 price target on IREN in a report on Wednesday, May 27th. Fourteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.36.

IREN Price Performance

Shares of IREN stock opened at $47.21 on Monday. IREN Limited has a 12 month low of $13.09 and a 12 month high of $76.87. The stock has a market cap of $16.87 billion, a P/E ratio of 98.35 and a beta of 4.22. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44. The company has a 50 day simple moving average of $55.23 and a two-hundred day simple moving average of $47.61.

IREN (NASDAQ:IREN) last released its quarterly 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). The business had revenue of $144.79 million during the quarter, compared to the consensus estimate of $219.69 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%. On average, research analysts expect that IREN Limited will post -1.25 earnings per share for the current year.

More IREN News

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 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.