International Assets Investment Management LLC Acquires Shares of 24,864 IREN Limited $IREN

International Assets Investment Management LLC acquired a new stake in shares of IREN Limited (NASDAQ:IREN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 24,864 shares of the company’s stock, valued at approximately $939,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of IREN by 27.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,769 shares of the company’s stock valued at $1,200,000 after acquiring an additional 6,759 shares during the period. Privium Fund Management B.V. lifted its holdings in shares of IREN by 115.4% during the fourth quarter. Privium Fund Management B.V. now owns 280,000 shares of the company’s stock valued at $10,576,000 after acquiring an additional 150,000 shares during the period. SBI Securities Co. Ltd. lifted its holdings in shares of IREN by 3.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 72,072 shares of the company’s stock valued at $2,722,000 after acquiring an additional 2,312 shares during the period. Morse Asset Management Inc lifted its holdings in shares of IREN by 7.1% during the fourth quarter. Morse Asset Management Inc now owns 78,877 shares of the company’s stock valued at $2,979,000 after acquiring an additional 5,235 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of IREN by 4.0% during the fourth quarter. Truist Financial Corp now owns 53,819 shares of the company’s stock valued at $2,033,000 after acquiring an additional 2,053 shares during the period. 41.08% of the stock is owned by institutional investors.

Key Headlines Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN signed a $3.4 billion AI cloud contract with NVIDIA and announced a strategic partnership tied to up to 5GW of AI infrastructure, boosting confidence in its AI transition. IREN Secures $3.4bn AI Cloud Contract with NVIDIA
• Positive Sentiment: NVIDIA’s option to invest up to $2.1 billion at $70 per share is being viewed as a strong endorsement of IREN’s infrastructure value and growth strategy. Nvidia to invest up to $2.1 billion in IREN as part of AI data center deal
• Positive Sentiment: Analysts turned more constructive, with BTIG and HC Wainwright raising targets to $80 and $85, respectively, implying more upside if execution continues. Benzinga analyst target updates
• Neutral Sentiment: IREN reported weaker-than-expected quarterly revenue and a wider net loss, but investors are largely looking past the results and focusing on future AI cloud growth. IREN Limited’s Q3 Net Loss Widens Q/Q, Revenues Decline
• Neutral Sentiment: IREN expanded into Europe by agreeing to acquire Nostrum Group in Spain, adding about 490MW of secured power and a new development pipeline, which supports longer-term growth but still needs to close. IREN Expands AI Cloud Platform to Europe with Acquisition of Nostrum Group
• Negative Sentiment: Despite the upbeat AI narrative, IREN’s traditional Bitcoin-mining business continues to weaken, and the company still faces execution risk, dilution risk from convertibles, and heavy capex demands. IREN: Many Do Not Understand This Stock Is Undervalued Due To Its Assets

IREN Stock Performance

IREN stock opened at $61.20 on Friday. The stock has a 50-day simple moving average of $42.59 and a 200 day simple moving average of $46.71. The company has a quick ratio of 4.96, a current ratio of 4.96 and a debt-to-equity ratio of 1.51. IREN Limited has a 12-month low of $6.77 and a 12-month high of $76.87. The stock has a market capitalization of $20.34 billion, a price-to-earnings ratio of 127.50 and a beta of 4.17.

IREN (NASDAQ:IREN) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The business had revenue of $144.80 million during the quarter, compared to the consensus estimate of $219.69 million. On average, research analysts anticipate that IREN Limited will post -0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on IREN. Canaccord Genuity Group reissued a “buy” rating and set a $70.00 price objective on shares of IREN in a report on Tuesday, February 10th. BTIG Research lifted their price target on IREN to $80.00 and gave the company a “buy” rating in a report on Friday. Freedom Capital raised IREN to a “hold” rating in a report on Wednesday, April 1st. Cantor Fitzgerald cut their price target on IREN to $61.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Finally, HC Wainwright lifted their price target on IREN to $85.00 and gave the company a “buy” rating in a report on Friday. Thirteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, IREN currently has an average rating of “Moderate Buy” and a consensus target price of $71.23.

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.