IREN Limited (NASDAQ:IREN - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $14.57, but opened at $14.00. IREN shares last traded at $16.05, with a volume of 8,801,478 shares.
Analyst Upgrades and Downgrades
A number of research firms recently commented on IREN. B. Riley increased their target price on shares of IREN from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. HC Wainwright cut their target price on IREN from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. Wall Street Zen downgraded IREN from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Macquarie raised their price target on IREN from $15.50 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. raised IREN from a "neutral" rating to an "overweight" rating and cut their price target for the stock from $15.00 to $12.00 in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.30.
Check Out Our Latest Analysis on IREN
IREN Stock Performance
The stock's 50-day simple moving average is $9.01 and its 200 day simple moving average is $9.19.
IREN (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.06). IREN had a negative net margin of 9.40% and a negative return on equity of 2.12%. The firm had revenue of $148.10 million during the quarter, compared to analyst estimates of $153.38 million. As a group, sell-side analysts expect that IREN Limited will post 0.43 earnings per share for the current year.
Institutional Investors Weigh In On IREN
A number of institutional investors and hedge funds have recently bought and sold shares of IREN. Private Advisor Group LLC acquired a new position in IREN in the 4th quarter valued at $120,000. Charles Schwab Investment Management Inc. grew its position in shares of IREN by 96.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 710,890 shares of the company's stock valued at $6,981,000 after purchasing an additional 348,864 shares during the period. HM Payson & Co. acquired a new position in IREN in the fourth quarter valued at $30,000. Farther Finance Advisors LLC acquired a new position in IREN in the fourth quarter valued at $98,000. Finally, Advantage Alpha Capital Partners LP purchased a new position in IREN during the fourth quarter worth about $423,000. Hedge funds and other institutional investors own 41.08% of the company's stock.
IREN Company Profile
(
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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