IREN (NASDAQ:IREN) Director Christopher Guzowski Sells 11,958 Shares

IREN Limited (NASDAQ:IREN) Director Christopher Guzowski sold 11,958 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $36.32, for a total value of $434,314.56. Following the completion of the transaction, the director directly owned 39,168 shares of the company’s stock, valued at approximately $1,422,581.76. This trade represents a 23.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

IREN Stock Down 5.3%

Shares of NASDAQ:IREN opened at $43.32 on Thursday. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $15.48 billion, a P/E ratio of 90.25 and a beta of 4.27. IREN Limited has a 52-week low of $14.61 and a 52-week high of $76.87. The stock’s fifty day simple moving average is $55.03 and its 200-day simple moving average is $47.61.

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). The company had revenue of $144.79 million for the quarter, compared to analysts’ expectations of $219.69 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%. As a group, equities research analysts forecast that IREN Limited will post -1.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IREN

A number of hedge funds have recently made changes to their positions in IREN. Invesco Ltd. increased its stake in IREN by 45.9% during the second quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock worth $43,341,000 after acquiring an additional 936,333 shares during the last quarter. StoneX Group Inc. purchased a new stake in shares of IREN during the 2nd quarter worth about $158,000. NewEdge Advisors LLC grew its holdings in shares of IREN by 245.0% during the 2nd quarter. NewEdge Advisors LLC now owns 43,281 shares of the company’s stock worth $631,000 after purchasing an additional 30,736 shares during the period. Sei Investments Co. acquired a new stake in IREN during the 2nd quarter worth approximately $2,333,000. Finally, Peapack Gladstone Financial Corp increased its position in IREN by 30.0% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 18,200 shares of the company’s stock worth $265,000 after purchasing an additional 4,200 shares in the last quarter. Institutional investors and hedge funds own 41.08% of the company’s stock.

Key IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN was added to the Russell 1000 Index, a milestone that can increase institutional visibility and index-related demand. It also achieved NVIDIA Exemplar Cloud status, which may support its AI infrastructure credibility. IREN added to Russell 1000, achieves NVIDIA Exemplar Cloud status
• Positive Sentiment: IREN’s new Golden State Warriors jersey-patch sponsorship could broaden brand awareness and help the company reach a wider audience as it expands its AI cloud business. Australian cloud company pays millions for spot on Warriors jersey
• Neutral Sentiment: Media coverage highlighted a potentially “historically bullish setup” for IREN, but the stock was still under pressure amid a choppy tech backdrop and an extended losing streak. AI Data Center Stock IREN Approaches A Historically Bullish Setup
• Neutral Sentiment: Another market note argued that IREN may be a buy based on historical patterns, but it did not provide a new fundamental catalyst. History: Buy This AI Data Center Stock Now
• Negative Sentiment: Bernstein reportedly said IREN is still behind in building out its enterprise business, pressuring sentiment and contributing to the stock’s decline. IREN Stock Slips as Analyst Says Firm ‘Is Behind in Building an Enterprise Business’
• Negative Sentiment: Director Christopher Guzowski sold 11,958 shares at $36.32, which can be viewed as a bearish insider transaction and may add to investor caution. SEC insider sale filing

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IREN. JPMorgan Chase & Co. upped 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. B. Riley Financial lifted their price objective on IREN from $88.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Weiss Ratings upgraded IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. HC Wainwright increased their target price on IREN to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, BTIG Research raised their price target on IREN to $80.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, IREN has a consensus rating of “Moderate Buy” and an average price target of $82.36.

About IREN

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.