Harvest Portfolios Group Inc. Cuts Position in IREN Limited $IREN

Harvest Portfolios Group Inc. lessened its position in shares of IREN Limited (NASDAQ:IREN) by 18.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,197 shares of the company’s stock after selling 27,901 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in IREN were worth $4,804,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in IREN during the 3rd quarter valued at approximately $1,854,000. Wealth Enhancement Advisory Services LLC grew its holdings in IREN by 88.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 115,230 shares of the company’s stock valued at $5,408,000 after buying an additional 53,982 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in IREN during the 3rd quarter valued at approximately $2,995,000. Oppenheimer & Co. Inc. grew 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 in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in IREN by 282.2% during the 4th quarter. Sanctuary Advisors LLC now owns 46,224 shares of the company’s stock valued at $1,746,000 after buying an additional 34,129 shares in the last quarter. Hedge funds and other institutional investors own 41.08% of the company’s stock.

IREN Trading Up 10.4%

Shares of NASDAQ IREN opened at $52.71 on Thursday. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44. The business has a fifty day simple moving average of $45.02 and a two-hundred day simple moving average of $46.43. The firm has a market cap of $18.84 billion, a PE ratio of 109.81 and a beta of 4.17. IREN Limited has a twelve month low of $8.28 and a twelve month high of $76.87.

IREN (NASDAQ:IREN) last issued its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The firm had revenue of $144.80 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%. Analysts expect that IREN Limited will post -1.09 earnings per share for the current fiscal year.

IREN News Roundup

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN’s co-CEO said demand for compute infrastructure is expected to be enormous, reinforcing the company’s pitch that its data centers and power capacity can benefit from AI/cloud buildout. The world will need an ENORMOUS amount of compute infrastructure: IREN co-CEO
• Positive Sentiment: Analysts and market commentary highlighted IREN’s rising AI cloud revenues, contracted GPU capacity, and large power pipeline as reasons it could keep outperforming peers, with some reports arguing the market may still be undervaluing its AI transition. Can IREN’s Rising AI Cloud Revenues Offset Bitcoin Mining Weakness? Why IREN Could Outperform Nebius Now
• Positive Sentiment: IREN continues developing its Childress data center campus, which supports the company’s broader expansion into AI-ready infrastructure and may increase future leasing and revenue potential. IREN continues developing data center campus in Childress

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group restated a “neutral” rating and set a $44.00 price target on shares of IREN in a report on Friday, May 8th. B. Riley Financial reiterated a “buy” rating on shares of IREN in a report on Friday, February 6th. Wall Street Zen cut IREN from a “hold” rating to a “strong sell” rating in a report on Saturday, February 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $70.00 target price on shares of IREN in a report on Tuesday, February 10th. Finally, Cantor Fitzgerald dropped their target price on IREN to $61.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Thirteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, IREN has an average rating of “Moderate Buy” and a consensus price target of $71.77.

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.