Shares of IREN Limited (NASDAQ:IREN - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $30.4444.
IREN has been the topic of several recent research reports. Cantor Fitzgerald lifted their price objective on shares of IREN from $27.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Jones Trading downgraded shares of IREN from a "buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Roth Capital reiterated a "buy" rating and issued a $35.00 price objective on shares of IREN in a research report on Friday, August 29th. Macquarie lifted their price objective on shares of IREN from $20.00 to $33.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Finally, B. Riley lifted their price objective on shares of IREN from $22.00 to $29.00 and gave the company a "buy" rating in a research report on Friday, August 29th.
Read Our Latest Stock Analysis on IREN
Institutional Trading of IREN
Several hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in shares of IREN by 1,059.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company's stock worth $82,000 after buying an additional 7,646 shares in the last quarter. Bank of America Corp DE raised its position in shares of IREN by 46.5% during the 4th quarter. Bank of America Corp DE now owns 186,736 shares of the company's stock worth $1,834,000 after buying an additional 59,250 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of IREN by 6.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 351,219 shares of the company's stock worth $3,449,000 after buying an additional 22,635 shares in the last quarter. Crestline Management LP bought a new stake in shares of IREN during the 4th quarter worth about $163,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of IREN during the 4th quarter worth about $1,964,000. 41.08% of the stock is currently owned by institutional investors.
IREN Stock Performance
Shares of IREN stock traded up $0.04 during trading hours on Monday, reaching $26.19. The company's stock had a trading volume of 21,525,505 shares, compared to its average volume of 27,280,460. The company's 50 day simple moving average is $19.38 and its 200 day simple moving average is $11.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 4.29 and a current ratio of 4.29. IREN has a one year low of $5.13 and a one year high of $30.01. The stock has a market cap of $7.12 billion, a P/E ratio of 44.39 and a beta of 4.03.
IREN (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings results on Thursday, August 28th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. The company had revenue of $187.30 million for the quarter, compared to the consensus estimate of $187.51 million. IREN had a net margin of 33.03% and a return on equity of 1.34%. As a group, analysts expect that IREN will post 0.43 EPS for the current fiscal year.
IREN Company Profile
(
Get Free Report)
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.
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