IREN Limited (NASDAQ:IREN – Get Free Report) was the recipient of some unusual options trading on Friday. Investors purchased 402,544 put options on the stock. This represents an increase of 46% compared to the typical volume of 275,687 put options.
Institutional Investors Weigh In On IREN
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IREN. Miller Wealth Advisors LLC boosted its holdings in IREN by 240.0% in 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 during the last quarter. North Star Investment Management Corp. acquired a new stake in IREN in the fourth quarter worth $26,000. Clearstead Trust LLC bought a new position in IREN during the fourth quarter worth about $27,000. Aventura Private Wealth LLC bought a new position in shares of IREN during the 4th quarter valued at about $28,000. Finally, Motco acquired a new position in shares of IREN in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 41.08% of the company’s stock.
IREN Stock Down 1.1%
Shares of IREN stock traded down $0.53 during midday trading on Friday, reaching $47.21. 50,683,338 shares of the company’s stock traded hands, compared to its average volume of 42,171,777. IREN has a 52 week low of $13.09 and a 52 week high of $76.87. The company’s 50 day simple moving average is $55.26 and its 200 day simple moving average is $47.60. The company has a market cap of $16.87 billion, a price-to-earnings ratio of 98.35 and a beta of 4.22. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a report on Monday, May 11th. BTIG Research lifted their target price on IREN to $80.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Jefferies Financial Group initiated coverage on shares of IREN in a research report on Thursday, June 18th. They issued a “buy” rating and a $79.00 price objective on the stock. Sanford C. Bernstein set a $96.00 price target on IREN in a research report on Thursday, June 4th. Finally, Canaccord Genuity Group boosted their target price on IREN from $70.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Fourteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.36.
Get Our Latest Research Report on IREN
IREN News Summary
Here are the key news stories impacting IREN this week:
- Positive Sentiment: IREN announced a multi-year sponsorship deal with the Golden State Warriors and Chase Center, with IREN’s logo set to appear on jerseys. The agreement has been described in media reports as one of the largest patch deals in North American sports, giving IREN major brand visibility and helping validate the company’s profile in AI/data infrastructure. Warriors, Chase Center announce new multi-year sponsorship with IREN Limited
- Positive Sentiment: Analysts highlighted IREN’s contracted AI capacity and Blackwell expansion as potential drivers of future revenue growth, arguing that new GPU deployments could bring more contracted infrastructure online and support top-line expansion. Can IREN’s Contracted AI Capacity Support Future Revenue Growth?
- Positive Sentiment: IREN was also included in roundup coverage of top Bitcoin stocks, reinforcing investor attention on the company as a leveraged play on crypto and AI-related infrastructure themes. Top Bitcoin Stocks To Follow Now – June 25th
- Neutral Sentiment: Short-interest data showed zero reported shares as of June 25, with the month-over-month change distorted by the same zero base. This appears to be a data anomaly rather than a meaningful fundamental update. Short interest update
- Negative Sentiment: Oklahoma commissioners tabled a tax incentive tied to IREN’s planned 1.2 GW AI site in Pittsburg County, adding some uncertainty around a key expansion project and its economics. Commissioners table tax incentive for IREN’s 1.2 GW AI site in Pittsburg County, Oklahoma
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.
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