IREN Limited (NASDAQ:IREN) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• IREN Limited has received a consensus rating of "Moderate Buy" from analysts, with two hold ratings, eight buy ratings, and one strong buy rating among the eleven analysts covering the stock.
• The average 12-month price target for IREN shares is $20.89, although various analysts have set different price objectives ranging from $16.00 to $23.00.
• IREN recently reported an EPS of $0.11 for the last quarter, missing the consensus estimate of $0.17 and showing a revenue of $148.10 million, which was below the estimated $153.38 million.

IREN Limited (NASDAQ:IREN - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eleven analysts that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $20.8889.

Several equities research analysts recently commented on IREN shares. HC Wainwright dropped their price objective on shares of IREN from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, May 15th. B. Riley reissued a "buy" rating and set a $22.00 price objective (up previously from $15.00) on shares of IREN in a research note on Thursday, July 10th. Canaccord Genuity Group reissued a "buy" rating and set a $23.00 price objective on shares of IREN in a research note on Friday, May 16th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $16.00 target price (up previously from $12.00) on shares of IREN in a research note on Monday, July 28th. Finally, Wall Street Zen upgraded shares of IREN from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th.

IREN Price Performance

NASDAQ:IREN opened at $17.73 on Thursday. IREN has a one year low of $5.13 and a one year high of $21.54. The company's 50-day simple moving average is $14.91 and its 200 day simple moving average is $10.45.

IREN (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.06). IREN had a negative return on equity of 2.12% and a negative net margin of 9.40%. The business had revenue of $148.10 million for the quarter, compared to the consensus estimate of $153.38 million. On average, equities research analysts anticipate that IREN will post 0.43 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IREN. Crewe Advisors LLC bought a new position in IREN during the first quarter valued at approximately $39,000. Quarry LP bought a new position in IREN during the first quarter valued at approximately $40,000. Main Management LLC bought a new position in IREN during the fourth quarter valued at approximately $49,000. Delta Financial Group Inc. bought a new position in IREN during the first quarter valued at approximately $61,000. Finally, R Squared Ltd lifted its position in IREN by 170.1% during the first quarter. R Squared Ltd now owns 10,290 shares of the company's stock valued at $63,000 after purchasing an additional 6,480 shares during the period. Institutional investors own 41.08% of the company's stock.

IREN Company 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.

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