Graham Capital Management L.P. Makes New Investment in IREN Limited $IREN

Graham Capital Management L.P. purchased a new position in IREN Limited (NASDAQ:IREN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 242,729 shares of the company’s stock, valued at approximately $9,168,000. Graham Capital Management L.P. owned 0.07% of IREN at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Miller Wealth Advisors LLC raised its position in IREN by 240.0% in the fourth quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock worth $26,000 after acquiring an additional 480 shares during the period. North Star Investment Management Corp. bought a new position in IREN in the fourth quarter worth approximately $26,000. Clearstead Trust LLC bought a new position in IREN in the fourth quarter worth approximately $27,000. Aventura Private Wealth LLC bought a new position in IREN in the fourth quarter worth approximately $28,000. Finally, Motco bought a new position in IREN in the fourth quarter worth approximately $30,000. 41.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IREN has been the topic of several recent analyst reports. B. Riley Financial raised their price objective on shares of IREN from $88.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Sanford C. Bernstein set a $96.00 price objective on shares of IREN in a research report on Thursday, June 4th. Cantor Fitzgerald raised their price objective on shares of IREN from $77.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Canaccord Genuity Group raised 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. Finally, The Goldman Sachs Group set a $50.00 price objective on shares of IREN in a research report on Wednesday, May 27th. Thirteen 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $82.62.

IREN News Summary

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN completed the acquisition of Nostrum Group, adding about 490 MW of secured, grid-connected power in Spain plus a development pipeline, which expands its AI cloud/data center footprint into Europe. IREN Completes Acquisition of Nostrum Group Expanding AI Cloud Platform to Europe
• Positive Sentiment: The deal gives IREN its first European AI infrastructure presence, potentially broadening its addressable market and positioning it to benefit from growing demand for AI compute capacity in Europe. IREN completes Nostrum acquisition, adds 490MW in Spain for Europe AI cloud push
• Neutral Sentiment: Local reporting on the Childress data center suggests continued interest in IREN’s infrastructure buildout, but the article details were not provided, so the immediate stock impact is unclear. Officials talk Iren Data Center in Childress
• Neutral Sentiment: IREN also appeared in generic “top bitcoin stocks” and “mining stocks” roundups, which may have added visibility but do not reflect a specific company catalyst. Top Bitcoin Stocks To Follow Today – June 15th
• Neutral Sentiment: Those same roundup articles likely reinforced IREN’s association with the crypto and mining sectors, but they do not appear to be major price drivers on their own. Top Mining Stocks To Research – June 15th

IREN Stock Down 2.7%

Shares of IREN stock opened at $59.18 on Wednesday. The company has a market capitalization of $21.15 billion, a price-to-earnings ratio of 123.29 and a beta of 4.22. IREN Limited has a one year low of $9.52 and a one year high of $76.87. The company’s fifty day moving average price is $53.00 and its 200-day moving average price is $47.13. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72.

IREN (NASDAQ:IREN) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The firm had revenue of $144.80 million for the quarter, compared to the consensus estimate of $219.69 million. IREN had a net margin of 20.90% and a negative return on equity of 13.13%. Sell-side analysts expect that IREN Limited will post -1.25 EPS for the current fiscal 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.