Legal & General Group Plc Invests $18.65 Million in IREN Limited $IREN

Legal & General Group Plc acquired a new position in IREN Limited (NASDAQ:IREN) in the fourth quarter, Holdings Channel.com reports. The fund acquired 493,776 shares of the company’s stock, valued at approximately $18,650,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Situational Awareness LP raised its stake in IREN by 90.1% in the 2nd quarter. Situational Awareness LP now owns 6,400,384 shares of the company’s stock worth $93,254,000 after acquiring an additional 3,034,254 shares during the last quarter. Value Aligned Research Advisors LLC raised its stake in IREN by 18.6% in the 3rd quarter. Value Aligned Research Advisors LLC now owns 3,873,337 shares of the company’s stock worth $181,776,000 after acquiring an additional 607,189 shares during the last quarter. Invesco Ltd. raised its stake in IREN by 45.9% in the 2nd quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock worth $43,341,000 after acquiring an additional 936,333 shares during the last quarter. UBS Group AG raised its stake in IREN by 37.3% in the 3rd quarter. UBS Group AG now owns 2,767,452 shares of the company’s stock worth $129,877,000 after acquiring an additional 751,635 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in IREN by 247.7% in the 3rd quarter. Marshall Wace LLP now owns 2,032,397 shares of the company’s stock worth $95,380,000 after acquiring an additional 1,447,842 shares during the last quarter. Hedge funds and other institutional investors own 41.08% of the company’s stock.

IREN Stock Performance

NASDAQ IREN opened at $65.33 on Tuesday. The stock has a 50-day simple moving average of $48.17 and a two-hundred day simple moving average of $46.24. The firm has a market capitalization of $23.35 billion, a P/E ratio of 136.10 and a beta of 4.22. IREN Limited has a fifty-two week low of $8.31 and a fifty-two week high of $76.87. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72.

IREN (NASDAQ:IREN) last released its quarterly earnings data 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 company had revenue of $144.80 million for the quarter, compared to analysts’ expectations of $219.69 million. IREN had a net margin of 20.90% and a negative return on equity of 13.13%. On average, equities analysts forecast that IREN Limited will post -1.17 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on IREN shares. JPMorgan Chase & Co. raised their target price on IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a research note on Monday, May 11th. Freedom Capital upgraded IREN to a “hold” rating in a research note on Wednesday, April 1st. Canaccord Genuity Group restated a “buy” rating and issued a $70.00 target price on shares of IREN in a research note on Tuesday, February 10th. Cantor Fitzgerald raised their target price on IREN from $77.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, B. Riley Financial raised their target price on IREN from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, IREN presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.69.

IREN News Roundup

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN closed a $3.65 billion investment-grade GPU financing facility to support its AI Cloud contract with Microsoft, signaling access to institutional capital on favorable terms and helping fund most of the required GPU spending. IREN Closes $3.65bn Investment-Grade GPU Financing
• Positive Sentiment: The financing was described as the highest publicly rated investment-grade GPU financing and the first of its kind in the U.S. private placement market, which may boost confidence in IREN’s ability to scale its AI cloud business. IREN closes $3.65 billion GPU financing to back Microsoft AI cloud contract
• Positive Sentiment: IREN and BE Networks announced they are using NVIDIA DSX Air to create a digital twin of the planned AI factory before deployment, a step that could reduce execution risk for the rollout of more than 50,000 Blackwell Ultra GPUs. IREN and BE Networks Accelerate Deployment of Large-Scale AI Factory with NVIDIA DSX Air
• Neutral Sentiment: Recent commentary from analysts and media continues to frame IREN as a potential AI infrastructure winner, but these pieces are mostly sentiment-driven rather than new fundamental updates. Is Iren the Next Winner of Nvidia’s Neocloud Spending Spree?
• Negative Sentiment: The market may still worry about execution risk, since IREN is undertaking a very large, capital-intensive AI buildout and must successfully deliver the Microsoft contract and GPU deployment on schedule. IREN’s Massive GPU Bet And Digital Twin Raise Execution Questions For Investors

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.