During the third quarter, Drive Wealth Management LLC reduced its holdings in IREN Limited by 79.2%, selling 32,424 shares and retaining 8,500 shares valued at $399,000. Other institutional moves included Global Retirement Partners LLC establishing a new position worth $25,000, Vermillion Wealth Management Inc. adding a $74,000 stake, and SLT Holdings LLC and Foundations Investment Advisors LLC each initiating positions of roughly $146,000. Advisors Asset Management Inc. increased its ownership by 68.4%, acquiring an additional 1,839 shares to reach a 4,528‐share stake valued at $66,000. Collectively, institutional investors now control 41.08% of the company’s outstanding shares, underscoring fluctuating confidence among large holders.

In its most recent quarter, IREN reported revenue of $240.3 million, marking a 28.3% year-over-year increase but falling short of the $244.6 million analysts had projected. The company recorded a net margin of 86.96% and delivered adjusted earnings per share of negative $0.34, missing consensus estimates by $0.48. On the balance sheet, IREN maintained robust liquidity ratios, with both its current and quick ratios at 5.52, while carrying a conservative debt-to-equity ratio of 0.34. Operationally, the firm continued to advance its AI data-center pipeline, preparing its 1.4 gigawatt Sweetwater 1 facility for an April commissioning and positioning its total development capacity at 3 gigawatts over the next several years.

Research firms have revised their outlooks for IREN following the company’s earnings release and strategic pivot toward AI infrastructure. Thirteen analysts maintain a Buy rating, five have Hold recommendations and one retains a Sell view, resulting in an average classification of Moderate Buy. Price targets range from the mid-$30s to the mid-$90s, averaging $69.36. Major brokerages including Macquarie, Roth MKM and BTIG Research have recently raised their targets and reaffirmed Outperform or Buy assessments, citing IREN’s industry-leading energy availability for AI workloads. Investors are also watching guidance for current-year earnings per share, which analysts forecast to reach $0.43, and management’s commentary on margin trends and project commissioning timelines during the upcoming Q2 FY26 conference call.