IREN (NASDAQ:IREN) Stock Price Down 3.8% - Time to Sell?

Key Points

• IREN shares fell 3.8% to $36.80 in heavy trading, with volume 48% above its average. The stock remains well below its 50-day and 200-day moving averages.
• Analyst sentiment is still broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $82.71, although ratings include two Sells and four Holds.
• The company recently missed quarterly expectations, reporting a $0.25 adjusted loss per share versus a $0.22 loss estimate and revenue of $144.79 million versus $219.69 million expected. IREN also carries notable valuation and volatility metrics, including a P/E ratio of 76.67 and beta of 4.27.

IREN Limited (NASDAQ:IREN - Get Free Report) fell 3.8% on Friday . The stock traded as low as $35.16 and last traded at $36.80. 63,607,192 shares were traded during trading, an increase of 48% from the average daily volume of 42,838,895 shares. The stock had previously closed at $38.26.

Analyst Ratings Changes

IREN has been the topic of several research reports. Compass Point restated a "buy" rating on shares of IREN in a research report on Tuesday, July 21st. The Goldman Sachs Group reiterated a "neutral" rating on shares of IREN in a research report on Monday, July 20th. Citigroup reiterated a "market outperform" rating on shares of IREN in a report on Tuesday, July 21st. Sanford C. Bernstein set a $96.00 price target on IREN in a research report on Thursday, June 4th. Finally, Freedom Capital upgraded shares of IREN from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.71.

IREN Stock Down 3.8%

The company's 50 day moving average is $49.26 and its 200 day moving average is $47.29. The company has a market cap of $13.15 billion, a PE ratio of 76.67 and a beta of 4.27. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44.

IREN (NASDAQ:IREN - Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The company had revenue of $144.79 million during the quarter, compared to analysts' expectations of $219.69 million. IREN had a net margin of 20.90% and a negative return on equity of 13.13%. As a group, analysts predict that IREN Limited will post -1.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IREN. Marex Group plc increased its holdings in IREN by 14,216.7% during the 4th quarter. Marex Group plc now owns 4,471,263 shares of the company's stock worth $168,880,000 after purchasing an additional 4,440,032 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of IREN in the 4th quarter worth $158,677,000. Clear Street Group Inc. bought a new position in shares of IREN during the 4th quarter worth $137,075,000. Situational Awareness LP grew its position in shares of IREN by 90.1% during the 2nd quarter. Situational Awareness LP now owns 6,400,384 shares of the company's stock worth $93,254,000 after buying an additional 3,034,254 shares in the last quarter. Finally, Quadrature Capital Ltd grew its position in shares of IREN by 1,022.2% during the 4th quarter. Quadrature Capital Ltd now owns 2,870,637 shares of the company's stock worth $108,424,000 after buying an additional 2,614,835 shares in the last quarter. 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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