Pictet Asset Management Holding SA Buys 99,384 Shares of IREN Limited $IREN

Pictet Asset Management Holding SA grew its stake in shares of IREN Limited (NASDAQ:IREN) by 349.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 127,835 shares of the company’s stock after acquiring an additional 99,384 shares during the quarter. Pictet Asset Management Holding SA’s holdings in IREN were worth $4,379,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Situational Awareness LP lifted its position in IREN by 20.5% during the fourth quarter. Situational Awareness LP now owns 8,700,621 shares of the company’s stock valued at $328,622,000 after purchasing an additional 1,480,200 shares during the period. Marex Group plc raised its stake in IREN by 14,216.7% during the 4th quarter. Marex Group plc now owns 4,471,263 shares of the company’s stock valued at $168,880,000 after buying an additional 4,440,032 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of IREN during the 4th quarter valued at $158,677,000. Value Aligned Research Advisors LLC lifted its holdings in shares of IREN by 18.6% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 3,873,337 shares of the company’s stock valued at $181,776,000 after buying an additional 607,189 shares during the period. Finally, Clear Street Group Inc. purchased a new position in shares of IREN in the 4th quarter worth $137,075,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Sanford C. Bernstein set a $96.00 price objective on IREN in a report on Thursday, June 4th. BTIG Research raised their target price on IREN to $80.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Weiss Ratings raised shares of IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. Canaccord Genuity Group increased their price objective on shares of IREN from $70.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Finally, Freedom Capital upgraded shares of IREN to a “hold” rating in a research report on Wednesday, April 1st. Fourteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.36.

IREN Stock Performance

Shares of NASDAQ:IREN opened at $38.82 on Friday. 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 $13.87 billion, a PE ratio of 80.88 and a beta of 4.27. The stock has a 50 day moving average of $54.72 and a 200 day moving average of $47.54.

IREN (NASDAQ:IREN) last posted its quarterly 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 $144.79 million during the quarter, compared to the consensus estimate of $219.69 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%. As a group, equities research analysts expect that IREN Limited will post -1.25 EPS for the current year.

Key IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Analyst commentary remained constructive on IREN’s AI pivot, with one report saying the company’s transformation from a bitcoin miner into an AI infrastructure provider is gaining traction and helping fuel the bullish long-term case. Forget Nvidia: This Infrastructure Upstart Is The Real Backdoor AI Winner
• Positive Sentiment: Another market note said IREN’s AI data center contract optimism has lifted fair-value estimates, highlighting renewed confidence in its Microsoft and NVIDIA-related opportunities. Iren (NasdaqGS:IREN) Stock Sees Fair Value Lift On AI Data Center Contract Optimism
• Positive Sentiment: Bernstein reiterated a Buy rating and a $100 price target, underscoring the view that IREN still has meaningful upside if its AI data center buildout continues on schedule. IREN Ltd (IREN) Upside Becomes Attractive Amid Stock Price Decline
• Positive Sentiment: IREN appointed a new Chief Product Officer and Chief Development Officer, which may support execution as it expands beyond bitcoin mining into AI infrastructure. IREN Appoints Chief Product Officer and Chief Development Officer
• Neutral Sentiment: Coverage of IREN as a “promising Bitcoin stock” and general AI/data center watchlist mentions kept the name in focus, but did not add a clear new catalyst. Promising Bitcoin Stocks To Keep An Eye On – July 2nd
• Neutral Sentiment: IREN also announced a large RSU package for its co-CEOs, which may be seen as a long-term retention tool, though it has drawn scrutiny over potential dilution and governance. IREN grants significant multi-year RSU awards to co-CEOs
• Negative Sentiment: Investor sentiment weakened after reports that IREN’s board approved a large founder equity package and a pricey Golden State Warriors sponsorship, raising concerns about dilution, capital allocation, and governance. IREN (NasdaqGS:IREN) Approves $800 Million Founder Equity Deal And Warriors Sponsorship
• Negative Sentiment: Several articles highlighted criticism over the co-CEO stock grants and related “payout machine” concerns, adding to worries that management incentives may not be aligned with shareholders. IREN Stock Heads For Ninth Straight Loss: $50M-A-Year NBA Spends, $788M Co-Founder Pay Packet Leave Retail Unimpressed
• Negative Sentiment: A director sold 11,958 shares, which can reinforce caution when the stock is already under pressure. Christopher Guzowski Sells 11,958 Shares of IREN (NASDAQ:IREN) Stock

About IREN

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.