IREN Limited (NASDAQ:IREN - Get Free Report) traded up 3.3% on Wednesday . The stock traded as high as $17.82 and last traded at $17.44. 8,868,983 shares changed hands during trading, a decline of 47% from the average session volume of 16,786,939 shares. The stock had previously closed at $16.88.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on IREN shares. Wall Street Zen raised shares of IREN from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. HC Wainwright dropped their target price on shares of IREN from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Thursday, May 15th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $23.00 price target on shares of IREN in a research report on Friday, May 16th. Macquarie lifted their target price on shares of IREN from $15.50 to $20.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Finally, B. Riley reiterated a "buy" rating and issued a $22.00 price target (up from $15.00) on shares of IREN in a report on Thursday, July 10th. Two 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.44.
Get Our Latest Report on IREN
IREN Stock Up 4.3%
The business has a fifty day moving average of $11.31 and a 200 day moving average of $9.58.
IREN (NASDAQ:IREN - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported $0.11 earnings per share 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 analyst estimates of $153.38 million. IREN had a negative return on equity of 2.12% and a negative net margin of 9.40%. As a group, equities analysts forecast that IREN Limited will post 0.43 EPS for the current fiscal year.
Institutional Investors Weigh In On IREN
A number of institutional investors have recently made changes to their positions in IREN. JPMorgan Chase & Co. acquired a new position in IREN in the fourth quarter worth $587,000. Farther Finance Advisors LLC lifted its stake in IREN by 57.3% in the first quarter. Farther Finance Advisors LLC now owns 15,654 shares of the company's stock valued at $104,000 after buying an additional 5,700 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of IREN by 46.5% during the fourth quarter. Bank of America Corp DE now owns 186,736 shares of the company's stock valued at $1,834,000 after acquiring an additional 59,250 shares during the period. Tower Research Capital LLC TRC grew its position in shares of IREN by 1,059.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company's stock worth $82,000 after acquiring an additional 7,646 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of IREN in the 1st quarter worth about $592,000. 41.08% of the stock is currently owned by institutional investors.
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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