IREN Limited (NASDAQ:IREN - Get Free Report)'s share price rose 3.3% during mid-day trading on Wednesday . The stock traded as high as $17.82 and last traded at $17.44. Approximately 8,868,983 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 16,786,939 shares. The stock had previously closed at $16.88.
Analyst Ratings Changes
IREN has been the subject of several research reports. Macquarie increased their price target on shares of IREN from $15.50 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. B. Riley reiterated a "buy" rating and issued a $22.00 price target (up from $15.00) on shares of IREN in a research note on Thursday, July 10th. Canaccord Genuity Group reiterated a "buy" rating and issued a $23.00 price target on shares of IREN in a research note on Friday, May 16th. HC Wainwright decreased their price target on shares of IREN from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. Finally, Wall Street Zen upgraded shares of IREN from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $20.44.
Read Our Latest Stock Report on IREN
IREN Stock Performance
The business's fifty day moving average price is $11.75 and its 200-day moving average price is $9.69.
IREN (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.06). The company had revenue of $148.10 million for the quarter, compared to analysts' expectations of $153.38 million. IREN had a negative net margin of 9.40% and a negative return on equity of 2.12%. As a group, sell-side analysts forecast that IREN Limited will post 0.43 earnings per share for the current year.
Hedge Funds Weigh In On IREN
Institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its stake in IREN by 96.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 710,890 shares of the company's stock worth $6,981,000 after acquiring an additional 348,864 shares during the period. Farther Finance Advisors LLC bought a new stake in IREN during the 4th quarter worth approximately $98,000. Advantage Alpha Capital Partners LP bought a new stake in IREN during the 4th quarter worth approximately $423,000. Parametrica Management Ltd bought a new stake in IREN during the 4th quarter worth approximately $136,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in IREN during the 4th quarter worth approximately $179,000. Hedge funds and other institutional investors 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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