IREN Limited (NASDAQ:IREN - Get Free Report) shares hit a new 52-week high on Friday . The company traded as high as $52.02 and last traded at $50.63, with a volume of 21360420 shares traded. The stock had previously closed at $47.02.
Analyst Upgrades and Downgrades
Several research firms have commented on IREN. Sanford C. Bernstein reiterated an "outperform" rating and issued a $75.00 price objective on shares of IREN in a report on Thursday, September 25th. Canaccord Genuity Group raised their price target on shares of IREN from $37.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Compass Point assumed coverage on IREN in a research note on Monday, September 15th. They set a "buy" rating on the stock. Arete Research began coverage on IREN in a research note on Wednesday, September 24th. They issued a "buy" rating and a $78.00 price objective on the stock. Finally, Arete began coverage on IREN in a report on Wednesday, September 24th. They set a "buy" rating and a $78.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $47.73.
Read Our Latest Analysis on IREN
IREN Trading Up 7.3%
The firm has a market cap of $13.72 billion, a P/E ratio of 85.53 and a beta of 4.18. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $27.63 and a 200-day simple moving average of $15.86.
IREN (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. The company had revenue of $187.30 million during 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%. On average, equities research analysts expect that IREN Limited will post 0.43 EPS for the current fiscal year.
Insider Buying and Selling
In other IREN news, CEO Daniel John Roberts sold 1,000,000 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $33.13, for a total value of $33,130,000.00. Following the sale, the chief executive officer directly owned 13,989,696 shares of the company's stock, valued at approximately $463,478,628.48. This trade represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 21.55% of the company's stock.
Institutional Investors Weigh In On IREN
Institutional investors and hedge funds have recently modified their holdings of the company. Crewe Advisors LLC acquired a new position in IREN during the 1st quarter worth $39,000. Quarry LP acquired a new stake in shares of IREN in the 1st quarter valued at about $40,000. Delta Financial Group Inc. acquired a new stake in IREN during the 1st quarter worth approximately $61,000. R Squared Ltd lifted its position in IREN by 170.1% during the 1st quarter. R Squared Ltd now owns 10,290 shares of the company's stock worth $63,000 after acquiring an additional 6,480 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in IREN by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,528 shares of the company's stock worth $66,000 after acquiring an additional 1,839 shares during the period. Hedge funds and other institutional investors own 41.08% of the company's stock.
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.
Further Reading
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