Graham Capital Management L.P. Buys New Stake in IREN Limited $IREN

Graham Capital Management L.P. bought a new stake in shares of IREN Limited (NASDAQ:IREN) in the 4th quarter, Holdings Channel reports. The institutional investor bought 242,729 shares of the company’s stock, valued at approximately $9,168,000.

Several other institutional investors also recently bought and sold shares of the stock. Centaurus Financial Inc. grew its stake in IREN by 1.1% during the third quarter. Centaurus Financial Inc. now owns 31,482 shares of the company’s stock valued at $1,477,000 after acquiring an additional 332 shares in the last quarter. Larson Financial Group LLC grew its stake in IREN by 26.7% during the third quarter. Larson Financial Group LLC now owns 1,590 shares of the company’s stock valued at $75,000 after acquiring an additional 335 shares in the last quarter. Vise Technologies Inc. grew its stake in IREN by 7.9% during the fourth quarter. Vise Technologies Inc. now owns 5,780 shares of the company’s stock valued at $218,000 after acquiring an additional 424 shares in the last quarter. Miller Wealth Advisors LLC grew its stake in IREN by 240.0% during the fourth quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock valued at $26,000 after acquiring an additional 480 shares in the last quarter. Finally, North Star Investment Management Corp. purchased a new position in IREN during the fourth quarter valued at $26,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

IREN Stock Performance

Shares of NASDAQ:IREN opened at $59.18 on Wednesday. IREN Limited has a 52 week low of $9.52 and a 52 week high of $76.87. The stock has a market capitalization of $21.15 billion, a P/E ratio of 123.29 and a beta of 4.22. The firm has a fifty day simple moving average of $53.00 and a two-hundred day simple moving average of $47.13. 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 issued 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). IREN had a negative return on equity of 13.13% and a net margin of 20.90%.The business had revenue of $144.80 million during the quarter, compared to analysts’ expectations of $219.69 million. On average, analysts expect that IREN Limited will post -1.25 earnings per share for the current fiscal year.

Key Stories Impacting IREN

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. BTIG Research raised their target price on shares of IREN to $80.00 and gave the company a “buy” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a research note on Monday, May 11th. Canaccord Genuity Group lifted their price objective on shares of IREN from $70.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. HC Wainwright lifted their price objective on shares of IREN to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Cantor Fitzgerald lifted their price objective on shares of IREN from $77.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Thirteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $82.62.

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.