Portman Square Capital LLP Purchases Shares of 176,466 IREN Limited $IREN

Portman Square Capital LLP purchased a new stake in IREN Limited (NASDAQ:IREN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 176,466 shares of the company’s stock, valued at approximately $6,049,000. IREN makes up about 0.2% of Portman Square Capital LLP’s holdings, making the stock its 14th largest position.

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

Key Stories 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 Upgrades and Downgrades

IREN has been the topic of a number of research reports. B. Riley Financial raised their target price on shares of IREN from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. BTIG Research upped their price target on shares of IREN to $80.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Sanford C. Bernstein set a $96.00 price objective on shares of IREN in a research report on Thursday, June 4th. JPMorgan Chase & Co. lifted their price objective on shares of IREN from $39.00 to $46.00 and gave the company an “underweight” rating in a research note on Monday, May 11th. Finally, Cantor Fitzgerald upped their target price on shares of IREN from $77.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Fourteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.36.

IREN Stock Performance

Shares of IREN stock opened at $38.82 on Friday. The firm has a market cap of $13.87 billion, a price-to-earnings ratio of 80.88 and a beta of 4.27. IREN Limited has a 52-week low of $14.72 and a 52-week high of $76.87. The company’s 50-day simple moving average is $54.72 and its 200-day simple moving average is $47.54. 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 (NASDAQ:IREN) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.25) earnings per share 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 during the quarter, compared to analysts’ expectations of $219.69 million. As a group, equities research analysts anticipate that IREN Limited will post -1.25 earnings per share for the current year.

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.