IREN Limited (NASDAQ:IREN) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analyst consensus: IREN has an average recommendation of Moderate Buy from 18 brokerages (13 buys, 4 holds, 1 sell) and a mean 12‑month price target of $71.69.
• IREN materially missed its most recent quarter—EPS ($0.44) vs. consensus ($0.07) and revenue $184.7M vs. $229.6M—with revenue down 23.1% year‑over‑year.
• The stock is trading around $37.45 with a wide 52‑week range of $5.13–$76.87, high volatility (beta 4.31), and roughly 41% institutional ownership.

IREN Limited (NASDAQ:IREN - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eighteen brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $71.6923.

IREN has been the topic of several research analyst reports. Weiss Ratings upgraded shares of IREN from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, March 9th. HC Wainwright upgraded shares of IREN from a "sell" rating to a "buy" rating and set a $80.00 price target for the company in a report on Tuesday, January 13th. B. Riley Financial reissued a "buy" rating on shares of IREN in a research report on Friday, February 6th. Canaccord Genuity Group restated a "buy" rating and set a $70.00 price objective on shares of IREN in a report on Tuesday, February 10th. Finally, Wall Street Zen lowered shares of IREN from a "hold" rating to a "strong sell" rating in a research note on Saturday, February 7th.

IREN Stock Performance

Shares of IREN stock opened at $37.45 on Friday. The firm has a fifty day moving average of $45.46 and a two-hundred day moving average of $47.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.96 and a current ratio of 4.96. The stock has a market capitalization of $12.44 billion, a price-to-earnings ratio of 28.16 and a beta of 4.31. IREN has a 52 week low of $5.13 and a 52 week high of $76.87.

IREN (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($0.44) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.37). IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The company had revenue of $184.69 million during the quarter, compared to the consensus estimate of $229.64 million. The firm's revenue was down 23.1% on a year-over-year basis. As a group, equities research analysts predict that IREN will post 0.43 EPS for the current year.

Institutional Investors Weigh In On IREN

Several institutional investors and hedge funds have recently added to or reduced their stakes in IREN. Purpose Unlimited Inc. bought a new stake in IREN during the fourth quarter worth about $34,000. Corient Private Wealth LLC bought a new position in IREN in the fourth quarter valued at approximately $220,000. Caitong International Asset Management Co. Ltd increased its position in shares of IREN by 134,143.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 251,035 shares of the company's stock worth $9,482,000 after purchasing an additional 250,848 shares during the last quarter. Kera Capital Partners Inc. acquired a new position in shares of IREN during the 4th quarter worth approximately $167,000. Finally, Walser Wealth Management Company A Ltd Liability Co bought a new stake in shares of IREN during the 4th quarter worth approximately $246,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.