IREN Limited $IREN Stake Reduced by Crystal Cove Asset Management LLC

Crystal Cove Asset Management LLC lessened its holdings in shares of IREN Limited (NASDAQ:IREN) by 50.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 219,696 shares of the company’s stock after selling 224,851 shares during the quarter. IREN accounts for approximately 13.5% of Crystal Cove Asset Management LLC’s portfolio, making the stock its 4th largest position. Crystal Cove Asset Management LLC’s holdings in IREN were worth $8,981,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of IREN. Situational Awareness LP boosted its stake in shares of IREN by 34.5% during the 1st quarter. Situational Awareness LP now owns 11,698,835 shares of the company’s stock worth $401,036,000 after acquiring an additional 2,998,214 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of IREN during the 2nd quarter worth approximately $2,989,000. Secure Asset Management LLC acquired a new position in shares of IREN during the 3rd quarter worth approximately $2,820,000. Cetera Investment Advisers increased its holdings in shares of IREN by 27.8% during the 1st quarter. Cetera Investment Advisers now owns 300,029 shares of the company’s stock worth $10,285,000 after acquiring an additional 65,323 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in IREN in the 2nd quarter valued at $4,211,000. Institutional investors own 41.08% of the company’s stock.

Key Headlines Impacting IREN

Investors following IREN have been watching these headlines:

• Positive Sentiment: Some analysts remain bullish on IREN relative to other neocloud stocks, pointing to potential upside after recent earnings. CoreWeave and Nebius Still Lag Behind IREN in Upside After Earnings
• Negative Sentiment: IREN fell alongside other AI data-center operators amid reports that Nvidia may slow investments and credit support following CEO Jensen Huang’s reported resignation. Bitcoin slipping below $70,000 and rising Treasury yields added pressure. Why Is IREN Stock Falling on Friday?
• Negative Sentiment: Revenue from Horizon 2–4 is not expected to contribute materially until early 2027 after delays tied to a network redesign, raising concerns about the timing of growth and liquidity. IREN says Horizon 1 delivered 22% faster than industry benchmark

Wall Street Analyst Weigh In

Several brokerages have issued reports on IREN. BTIG Research reaffirmed a “buy” rating on shares of IREN in a report on Friday, November 6th. JonesTrading upgraded shares of IREN from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Friday, November 6th. Sanford C. Bernstein reissued an “outperform” rating and issued a $100.00 price objective on shares of IREN in a research report on Thursday, August 13th. B. Riley Financial dropped their price objective on shares of IREN from $91.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Finally, CCB Int’l cut shares of IREN from an “outperform” rating to a “neutral” rating in a research note on Monday, November 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.57.

IREN Trading Down 6.7%

Shares of NASDAQ:IREN opened at $18.17 on Friday. IREN Limited has a 12-month low of $17.16 and a 12-month high of $70.71. The business has a 50 day moving average of $34.05 and a 200-day moving average of $42.73. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.77. The stock has a market cap of $7.71 billion, a PE ratio of -4.45 and a beta of 4.33.

IREN (NASDAQ:IREN) last announced its earnings results on Thursday, November 5th. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.06. The company had revenue of $228.00 million for the quarter, compared to analyst estimates of $228.26 million. IREN had a negative return on equity of 16.36% and a negative net margin of 194.36%. As a group, equities research analysts forecast that IREN Limited will post 0.64 earnings per share for the current year.

IREN Profile

IREN Limited, formerly known as Iris Energy, develops and operates data centers for bitcoin mining and artificial intelligence cloud services. Its AI business provides access to high-performance computing infrastructure, including GPU-based services, for customers with demanding computing needs. Founded in Australia in 2018 by brothers Daniel and Will Roberts, the company has expanded its data-center operations into North America, including locations in British Columbia, Canada, and Texas. IREN has emphasized developing facilities with access to renewable energy.