IREN (NASDAQ:IREN) Shares Down 4.5% - Here's What Happened

Key Points

• Shares fell 4.5% intraday to $48.36 (low $47.66) on Monday, with about 32.9 million shares traded—roughly 14% below the stock's average daily volume; prior close was $50.64.
• IREN reported a Q earnings miss, posting a loss of ($0.44) per share versus ($0.07) expected and revenue of $184.7M versus $229.6M expected, with quarterly revenue down 23.1% year‑over‑year.
• Analysts are mixed but generally favorable: the consensus rating is a "Moderate Buy" with a consensus target price of $70.08 (13 Buys, 4 Holds, 2 Sells), while recent reports range from cuts (Cantor to $61) to upgrades (HC Wainwright to $80).

IREN Limited (NASDAQ:IREN - Get Free Report)'s stock price dropped 4.5% during trading on Monday . The stock traded as low as $47.66 and last traded at $48.36. Approximately 32,900,596 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 38,091,980 shares. The stock had previously closed at $50.64.

Wall Street Analyst Weigh In

IREN has been the subject of several research analyst reports. Cantor Fitzgerald dropped their target price on shares of IREN to $61.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Wall Street Zen cut shares of IREN from a "hold" rating to a "strong sell" rating in a report on Saturday, February 7th. HC Wainwright raised shares of IREN from a "sell" rating to a "buy" rating and set a $80.00 target price for the company in a report on Tuesday, January 13th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $70.00 target price on shares of IREN in a report on Tuesday, February 10th. Finally, Freedom Capital raised shares of IREN to a "hold" rating in a report on Wednesday, April 1st. Thirteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, IREN has an average rating of "Moderate Buy" and a consensus target price of $70.08.

IREN Trading Down 4.5%

The firm has a market capitalization of $16.07 billion, a P/E ratio of 36.36 and a beta of 4.30. The stock's 50-day simple moving average is $41.45 and its two-hundred day simple moving average is $47.38. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.96 and a quick ratio of 4.96.

IREN (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.37). The firm 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%.The company's quarterly revenue was down 23.1% compared to the same quarter last year. Equities research analysts expect that IREN Limited will post -0.8 EPS for the current year.

Hedge Funds Weigh In On IREN

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Situational Awareness LP boosted its position in shares of IREN by 20.5% during the fourth quarter. Situational Awareness LP now owns 8,700,621 shares of the company's stock worth $328,622,000 after acquiring an additional 1,480,200 shares during the last quarter. Marex Group plc raised its stake in shares of IREN by 14,216.7% in the fourth quarter. Marex Group plc now owns 4,471,263 shares of the company's stock valued at $168,880,000 after acquiring an additional 4,440,032 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of IREN in the fourth quarter valued at $158,677,000. Value Aligned Research Advisors LLC raised its stake in shares of IREN by 18.6% in the third quarter. Value Aligned Research Advisors LLC now owns 3,873,337 shares of the company's stock valued at $181,776,000 after acquiring an additional 607,189 shares during the period. Finally, Clear Street Group Inc. purchased a new stake in shares of IREN in the fourth quarter valued at $137,075,000. Institutional investors own 41.08% of the company's stock.

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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