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

Key Points

• Analysts give IREN a "Moderate Buy" — 19 firms cover the stock (13 buy, 5 hold, 1 sell) with an average 12‑month target of about $70.08.
• Recent earnings missed expectations: IREN reported ($0.44) EPS vs ($0.07) expected and revenue of $184.7M vs $229.6M expected, with revenue down 23.1% year‑over‑year and analysts forecasting ~‑0.8 EPS for the fiscal year.
• Major institutions have been increasing positions (e.g., Situational Awareness LP and Marex Group plc added large stakes) and about 41.08% of the stock is institutionally owned; market cap is ~$16.2B and the 12‑month trading range is $5.45–$76.87, reflecting high volatility.

Shares of IREN Limited (NASDAQ:IREN - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the nineteen ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $70.0769.

Several research firms recently issued reports on IREN. Cantor Fitzgerald decreased their price objective on shares of IREN to $61.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $70.00 price objective on shares of IREN in a report on Tuesday, February 10th. Freedom Capital raised shares of IREN to a "hold" rating in a report on Wednesday, April 1st. Weiss Ratings raised shares of IREN from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, March 9th. Finally, B. Riley Financial reaffirmed a "buy" rating on shares of IREN in a report on Friday, February 6th.

IREN Stock Performance

IREN stock opened at $48.72 on Tuesday. The company has a quick ratio of 4.96, a current ratio of 4.96 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $16.19 billion, a price-to-earnings ratio of 36.63 and a beta of 4.30. IREN has a 12 month low of $5.45 and a 12 month high of $76.87. The firm has a 50 day moving average of $40.88 and a two-hundred day moving average of $47.61.

IREN (NASDAQ:IREN - Get Free Report) last posted its earnings results on Thursday, February 5th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.37). The business had revenue of $184.69 million during the quarter, compared to the consensus estimate of $229.64 million. IREN had a negative return on equity of 10.01% and a net margin of 56.59%.IREN's revenue for the quarter was down 23.1% compared to the same quarter last year. As a group, equities analysts anticipate that IREN will post -0.8 EPS for the current fiscal year.

Institutional Trading of IREN

Several large investors have recently modified their holdings of the company. Situational Awareness LP boosted its holdings in shares of IREN by 20.5% during the 4th quarter. Situational Awareness LP now owns 8,700,621 shares of the company's stock worth $328,622,000 after buying an additional 1,480,200 shares during the period. Marex Group plc boosted its holdings in shares of IREN by 14,216.7% during the 4th quarter. Marex Group plc now owns 4,471,263 shares of the company's stock worth $168,880,000 after buying an additional 4,440,032 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of IREN during the 4th quarter worth $158,677,000. Value Aligned Research Advisors LLC boosted its holdings in shares of IREN by 18.6% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 3,873,337 shares of the company's stock worth $181,776,000 after buying an additional 607,189 shares during the period. Finally, Clear Street Group Inc. acquired a new position in IREN during the 4th quarter valued at $137,075,000. 41.08% of the stock is owned by institutional investors.

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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