Brookstone Capital Management Invests $541,000 in IREN Limited $IREN

Brookstone Capital Management purchased a new stake in IREN Limited (NASDAQ:IREN) in the 1st quarter, Holdings Channel reports. The firm purchased 15,790 shares of the company’s stock, valued at approximately $541,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of IREN by 18.7% in the 1st quarter. SG Americas Securities LLC now owns 165,402 shares of the company’s stock worth $5,670,000 after purchasing an additional 26,012 shares during the period. Polianta Ltd acquired a new position in shares of IREN in the first quarter worth about $1,210,000. Purpose Unlimited Inc. acquired a new stake in shares of IREN during the fourth quarter worth approximately $34,000. Corient Private Wealth LLC acquired a new stake in shares of IREN in the 4th quarter valued at about $220,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of IREN by 134,143.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 251,035 shares of the company’s stock worth $9,482,000 after purchasing an additional 250,848 shares during the last quarter. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IREN has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price target on IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a research report on Monday, May 11th. The Goldman Sachs Group set a $50.00 price objective on IREN in a research note on Wednesday, May 27th. Jefferies Financial Group began coverage on IREN in a report on Thursday, June 18th. They set a “buy” rating and a $79.00 target price for the company. BTIG Research increased their target price on IREN to $80.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Weiss Ratings raised IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Fourteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.36.

IREN News Roundup

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN announced a multi-year sponsorship with the Golden State Warriors and Chase Center, including jersey patch branding. The deal was described in reports as one of the largest in North American sports, which could boost brand visibility and investor interest. Warriors, Chase Center announce new multi-year sponsorship with IREN Limited
• Positive Sentiment: Analyst coverage highlighted IREN’s contracted AI capacity and Blackwell GPU expansion as potential drivers of future revenue growth, suggesting the company may be able to monetize more of its AI infrastructure as deployments come online. Can IREN’s Contracted AI Capacity Support Future Revenue Growth?
• Neutral Sentiment: IREN is still being included in “top Bitcoin stocks” watchlists, reflecting continued interest in the company’s exposure to bitcoin and related infrastructure themes. Top Bitcoin Stocks To Follow Now – June 25th
• Neutral Sentiment: Local officials tabled a tax incentive for IREN’s planned 1.2 GW AI site in Oklahoma, creating some uncertainty around the project timeline and economics. Commissioners table tax incentive for IREN’s 1.2 GW AI site in Pittsburg County, Oklahoma
• Negative Sentiment: Unusual options activity showed a large surge in put buying, which often signals traders are positioning for downside or hedging against a pullback in IREN shares. Unusual options trading in IREN

IREN Stock Performance

Shares of NASDAQ IREN opened at $47.21 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72. The business’s 50-day simple moving average is $55.23 and its 200-day simple moving average is $47.60. The firm has a market cap of $16.87 billion, a price-to-earnings ratio of 98.35 and a beta of 4.22. IREN Limited has a 52 week low of $13.09 and a 52 week high of $76.87.

IREN (NASDAQ:IREN) last posted its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The firm had revenue of $144.79 million during the quarter, compared to analyst estimates of $219.69 million. IREN had a net margin of 20.90% and a negative return on equity of 13.13%. As a group, equities research analysts expect that IREN Limited will post -1.25 earnings per share for the current fiscal year.

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.