California Public Employees Retirement System Takes Position in IREN Limited $IREN

California Public Employees Retirement System purchased a new stake in shares of IREN Limited (NASDAQ:IREN) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 516,207 shares of the company’s stock, valued at approximately $17,696,000. California Public Employees Retirement System owned about 0.16% of IREN at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Marex Group plc boosted its position in IREN by 14,216.7% in the fourth 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 in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of IREN during the fourth quarter worth $158,677,000. Clear Street Group Inc. bought a new position in shares of IREN in the 4th quarter valued at $137,075,000. Situational Awareness LP lifted its stake in shares of IREN by 90.1% in the 2nd quarter. Situational Awareness LP now owns 6,400,384 shares of the company’s stock valued at $93,254,000 after acquiring an additional 3,034,254 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its stake in shares of IREN by 1,022.2% in the 4th quarter. Quadrature Capital Ltd now owns 2,870,637 shares of the company’s stock valued at $108,424,000 after acquiring an additional 2,614,835 shares during the last quarter. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN’s $2.8 billion in new AI cloud contracts and higher ARR target strengthen the company’s growth outlook and support the bull case for the stock.
• Positive Sentiment: Alphabet’s increased AI capex forecast lifted investor enthusiasm for AI infrastructure names, including IREN, improving sector momentum.
• Positive Sentiment: Canaccord Genuity reaffirmed a Buy rating on IREN, adding analyst support after the contract announcement.
• Neutral Sentiment: Commentary from Seeking Alpha and other outlets focused on IREN’s shift from bitcoin mining to AI infrastructure, which reinforces the long-term narrative but did not add new company-specific catalysts.
• Negative Sentiment: Despite the recent rally, some articles noted IREN has been volatile, with the stock still down sharply over the past 30 and 90 days before the latest contract-driven rebound.

IREN Stock Performance

Shares of IREN stock opened at $40.58 on Friday. The stock has a market cap of $14.50 billion, a price-to-earnings ratio of 84.54 and a beta of 4.27. IREN Limited has a twelve month low of $14.72 and a twelve month high of $76.87. The company’s fifty day moving average is $51.00 and its 200 day moving average is $47.67. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44.

IREN (NASDAQ:IREN) last announced its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The company had revenue of $144.79 million for 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%. Sell-side analysts forecast that IREN Limited will post -1.85 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IREN. Sanford C. Bernstein set a $96.00 price objective on IREN in a research report on Thursday, June 4th. BTIG Research lifted their price target on IREN to $80.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Weiss Ratings cut IREN from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 7th. Compass Point reaffirmed a “buy” rating on shares of IREN in a research note on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on IREN from $39.00 to $46.00 and gave the company an “underweight” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.71.

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.