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

Crystal Cove Asset Management LLC lowered its position in shares of IREN Limited (NASDAQ:IREN) by 50.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 219,696 shares of the company’s stock after selling 224,851 shares during the quarter. IREN accounts for 13.5% of Crystal Cove Asset Management LLC’s holdings, making the stock its 4th biggest position. Crystal Cove Asset Management LLC owned approximately 0.06% of IREN worth $8,981,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Allworth Financial LP raised its holdings in shares of IREN by 4.4% in the second quarter. Allworth Financial LP now owns 7,162 shares of the company’s stock valued at $328,000 after purchasing an additional 305 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of IREN by 14.5% in the second quarter. Versant Capital Management Inc now owns 2,509 shares of the company’s stock worth $115,000 after purchasing an additional 317 shares in the last quarter. Hollencrest Capital Management boosted its holdings in IREN by 50.0% during the first quarter. Hollencrest Capital Management now owns 1,050 shares of the company’s stock worth $36,000 after purchasing an additional 350 shares during the last quarter. WealthPlan Investment Management LLC boosted its holdings in IREN by 3.7% during the third quarter. WealthPlan Investment Management LLC now owns 11,190 shares of the company’s stock worth $457,000 after purchasing an additional 404 shares during the last quarter. Finally, Ascent Wealth Partners LLC boosted its holdings in IREN by 2.6% during the third quarter. Ascent Wealth Partners LLC now owns 15,866 shares of the company’s stock worth $649,000 after purchasing an additional 404 shares during the last quarter. Institutional investors and hedge funds own 41.08% of the company’s stock.

Wall Street Analysts Forecast Growth

IREN has been the subject of a number of analyst reports. B. Riley Financial decreased their target price on shares of IREN from $91.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Rothschild & Co Redburn started coverage on shares of IREN in a research report on Monday, September 21st. They set a “neutral” rating and a $40.00 price target on the stock. Canaccord Genuity Group restated a “buy” rating and set a $79.00 price objective on shares of IREN in a research note on Friday, August 28th. Cantor Fitzgerald decreased their price objective on IREN from $99.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, November 6th. Finally, HC Wainwright lowered their target price on IREN from $74.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $64.57.

Key IREN News

Here’s some of the latest news about IREN:

• 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
• Positive Sentiment: IREN says its Horizon 1 deployment delivered 22% faster than an industry benchmark, though later phases are delayed. IREN says Horizon 1 delivered 22% faster than industry benchmark
• 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

IREN Trading Down 6.7%

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

IREN (NASDAQ:IREN) last released its earnings results on Thursday, November 5th. The company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.06. The business had revenue of $228.00 million during the quarter, compared to analysts’ expectations of $228.26 million. IREN had a negative net margin of 194.36% and a negative return on equity of 16.36%. Equities research analysts predict that IREN Limited will post 0.64 earnings per share for the current fiscal year.

IREN Company 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.