Drive Wealth Management LLC Has $399,000 Stock Position in IREN Limited $IREN

Drive Wealth Management LLC lowered its stake in shares of IREN Limited (NASDAQ:IREN) by 79.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,500 shares of the company’s stock after selling 32,424 shares during the period. Drive Wealth Management LLC’s holdings in IREN were worth $399,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Global Retirement Partners LLC acquired a new position in IREN during the third quarter worth $25,000. Advisors Asset Management Inc. grew its position in shares of IREN by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,528 shares of the company’s stock valued at $66,000 after acquiring an additional 1,839 shares during the period. Vermillion Wealth Management Inc. bought a new position in shares of IREN in the 3rd quarter valued at about $74,000. SLT Holdings LLC acquired a new position in shares of IREN during the 2nd quarter worth about $146,000. Finally, Foundations Investment Advisors LLC acquired a new position in shares of IREN during the 2nd quarter worth about $146,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

IREN Stock Performance

NASDAQ:IREN opened at $56.68 on Friday. The stock has a 50 day simple moving average of $45.40 and a 200 day simple moving average of $40.15. The stock has a market cap of $16.07 billion, a P/E ratio of 29.22 and a beta of 4.25. IREN Limited has a 1-year low of $5.13 and a 1-year high of $76.87. The company has a current ratio of 5.52, a quick ratio of 5.52 and a debt-to-equity ratio of 0.34.

IREN (NASDAQ:IREN) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.48). IREN had a net margin of 86.96% and a negative return on equity of 3.60%. The firm had revenue of $240.30 million during the quarter, compared to analyst estimates of $244.60 million. The firm’s revenue for the quarter was up 28.3% on a year-over-year basis. Research analysts anticipate that IREN Limited will post 0.43 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of IREN from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Macquarie raised their price objective on IREN to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Roth Mkm set a $94.00 target price on IREN and gave the stock a “buy” rating in a report on Monday, November 3rd. UBS Group reaffirmed a “buy” rating on shares of IREN in a report on Friday, November 7th. Finally, BTIG Research lifted their price objective on shares of IREN from $32.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Thirteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, IREN has an average rating of “Moderate Buy” and an average price target of $69.36.

IREN News Summary

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Technical momentum is building after a pullback—analysts note IREN is forming a bullish continuation pattern, holding key moving averages with improving momentum and Fibonacci targets that point toward further upside beyond prior highs. This narrative supports momentum-driven buying. IREN Price Forecast: Bullish Momentum Builds After Pullback
• Positive Sentiment: Strategic pivot toward Microsoft’s AI cloud is being discussed as reshaping the investment case for IREN—if partnerships or product integrations with Microsoft accelerate revenue growth or improve margins, that could materially raise investor expectations and valuation multiples. Market reactions suggest investors are pricing in potential upside from this shift. Is IREN’s Microsoft AI Cloud Pivot Reshaping The Investment Case For IREN (IREN)?
• Neutral Sentiment: Company announced its Q2 FY26 results release and conference call for Feb 5—this is a near-term catalyst that can reinforce the recent move (beat) or trigger a reset (miss). Investors should mark the date and listen for guidance, revenue mix and margin details. IREN to Release Q2 FY26 Results on February 5, 2026
• Negative Sentiment: After a strong run, the stock is pausing as investors take profits—coverage notes a short-term consolidation (“pause for breath”), which could increase volatility and lead to pullbacks if buying dries up or if upcoming results disappoint. IREN Shares Pause for Breath Following Meteoric Rise

IREN 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.