IREN Limited (NASDAQ:IREN - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $18.64 and last traded at $17.98, with a volume of 16742557 shares. The stock had previously closed at $16.23.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. HC Wainwright lowered their price target on shares of IREN from $22.00 to $21.00 and set a "buy" rating for the company in a report on Thursday, May 15th. Canaccord Genuity Group reiterated a "buy" rating and set a $23.00 price target on shares of IREN in a report on Friday, May 16th. Macquarie boosted their price target on shares of IREN from $15.50 to $20.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. B. Riley reiterated a "buy" rating and set a $22.00 price target (up previously from $15.00) on shares of IREN in a report on Thursday, July 10th. Finally, Wall Street Zen upgraded shares of IREN from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $20.44.
Get Our Latest Analysis on IREN
IREN Price Performance
The firm's fifty day moving average price is $11.31 and its 200-day moving average price is $9.58.
IREN (NASDAQ:IREN - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.06). The company had revenue of $148.10 million during the quarter, compared to analyst estimates of $153.38 million. IREN had a negative net margin of 9.40% and a negative return on equity of 2.12%. Sell-side analysts expect that IREN Limited will post 0.43 earnings per share for the current year.
Institutional Trading of IREN
Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. acquired a new stake in IREN during the 4th quarter worth $587,000. Farther Finance Advisors LLC boosted its stake in IREN by 57.3% during the 1st quarter. Farther Finance Advisors LLC now owns 15,654 shares of the company's stock worth $104,000 after purchasing an additional 5,700 shares during the period. Bank of America Corp DE boosted its stake in IREN by 46.5% during the 4th quarter. Bank of America Corp DE now owns 186,736 shares of the company's stock worth $1,834,000 after purchasing an additional 59,250 shares during the period. Tower Research Capital LLC TRC boosted its stake in IREN by 1,059.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company's stock worth $82,000 after purchasing an additional 7,646 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in IREN during the 1st quarter worth $592,000. Institutional investors and hedge funds own 41.08% of the company's stock.
About IREN
(
Get Free Report)
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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