IREN Limited (NASDAQ:IREN - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $64.76 and last traded at $63.35, with a volume of 10931720 shares. The stock had previously closed at $60.09.
Analyst Ratings Changes
Several research firms recently weighed in on IREN. Cantor Fitzgerald upped their price target on IREN from $27.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Arete Research assumed coverage on shares of IREN in a research note on Wednesday, September 24th. They set a "buy" rating and a $78.00 price objective for the company. Roth Capital reiterated a "buy" rating and set a $35.00 price target on shares of IREN in a report on Friday, August 29th. Compass Point started coverage on shares of IREN in a report on Monday, September 15th. They issued a "buy" rating for the company. Finally, HC Wainwright boosted their price target on IREN from $21.00 to $36.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $47.73.
View Our Latest Analysis on IREN
IREN Stock Up 6.3%
The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $17.37 billion, a P/E ratio of 108.22 and a beta of 4.19. The company has a fifty day moving average price of $30.91 and a 200-day moving average price of $17.25.
IREN (NASDAQ:IREN - Get Free Report) last issued its quarterly earnings data on Thursday, August 28th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $187.30 million for the quarter, compared to analysts' expectations of $187.51 million. IREN had a return on equity of 1.34% and a net margin of 33.03%. As a group, research analysts forecast that IREN Limited will post 0.43 EPS for the current fiscal year.
Insider Buying and Selling at IREN
In other news, CEO Daniel John Roberts sold 1,000,000 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $33.13, for a total transaction of $33,130,000.00. Following the sale, the chief executive officer directly owned 13,989,696 shares in the company, valued at approximately $463,478,628.48. This represents a 6.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.55% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On IREN
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IREN. Farther Finance Advisors LLC increased its position in shares of IREN by 57.3% during the 1st quarter. Farther Finance Advisors LLC now owns 15,654 shares of the company's stock valued at $104,000 after purchasing an additional 5,700 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of IREN in the first quarter valued at $592,000. Exchange Traded Concepts LLC lifted its holdings in shares of IREN by 46.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,020,084 shares of the company's stock worth $6,212,000 after acquiring an additional 325,327 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of IREN during the 1st quarter worth about $39,000. Finally, Vontobel Holding Ltd. grew its holdings in IREN by 36.0% during the 1st quarter. Vontobel Holding Ltd. now owns 76,080 shares of the company's stock valued at $463,000 after purchasing an additional 20,157 shares during the last quarter. 41.08% of the stock is currently owned by hedge funds and other institutional investors.
About IREN
(
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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