Swiss National Bank Buys New Position in IREN Limited $IREN

Swiss National Bank bought a new position in shares of IREN Limited (NASDAQ:IREN) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 963,600 shares of the company’s stock, valued at approximately $33,032,000.

Other hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. purchased a new stake in IREN in the first quarter valued at approximately $20,878,000. Triglav Investments D.O.O. bought a new stake in IREN during the 1st quarter valued at $871,000. Oppenheimer & Co. Inc. raised its holdings in IREN by 257.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 26,958 shares of the company’s stock valued at $1,018,000 after buying an additional 19,423 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in IREN by 282.2% in the 4th quarter. Sanctuary Advisors LLC now owns 46,224 shares of the company’s stock worth $1,746,000 after acquiring an additional 34,129 shares during the last quarter. Finally, Avaii Wealth Management LLC increased its position in shares of IREN by 208.9% in the fourth quarter. Avaii Wealth Management LLC now owns 145,767 shares of the company’s stock valued at $5,506,000 after acquiring an additional 98,581 shares during the period. 41.08% of the stock is currently owned by institutional investors.

IREN News Summary

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN’s $2.8 billion in new AI cloud contracts and higher ARR target strengthen the company’s growth outlook and support the bull case for the stock.
• Positive Sentiment: Alphabet’s increased AI capex forecast lifted investor enthusiasm for AI infrastructure names, including IREN, improving sector momentum.
• Positive Sentiment: Canaccord Genuity reaffirmed a Buy rating on IREN, adding analyst support after the contract announcement.
• Neutral Sentiment: Commentary from Seeking Alpha and other outlets focused on IREN’s shift from bitcoin mining to AI infrastructure, which reinforces the long-term narrative but did not add new company-specific catalysts.
• Negative Sentiment: Despite the recent rally, some articles noted IREN has been volatile, with the stock still down sharply over the past 30 and 90 days before the latest contract-driven rebound.

Wall Street Analyst Weigh In

Several analysts recently weighed in on IREN shares. BTIG Research lifted their price target on shares of IREN to $80.00 and gave the company a “buy” rating in a report on Friday, May 8th. Needham & Company LLC restated a “hold” rating on shares of IREN in a report on Tuesday. 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. Sanford C. Bernstein set a $96.00 target price on IREN in a research note on Thursday, June 4th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of IREN in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.71.

IREN Stock Performance

Shares of IREN opened at $40.58 on Friday. The business’s fifty day simple moving average is $51.00 and its two-hundred day simple moving average is $47.67. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44. IREN Limited has a 12 month low of $14.72 and a 12 month high of $76.87. The company has a market cap of $14.50 billion, a price-to-earnings ratio of 84.54 and a beta of 4.27.

IREN (NASDAQ:IREN) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The firm had revenue of $144.79 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%. Research analysts anticipate that IREN Limited will post -1.85 earnings per share for the current fiscal year.

IREN 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.