IREN (NASDAQ:IREN) Stock Price Down 6% - Should You Sell?

Key Points

• IREN shares fell 6% to approximately $38.74, below both their 50-day and 200-day moving averages near $46.60. The stock has a market capitalization of $13.84 billion and a high beta of 4.29, indicating substantial volatility.
• Analysts remain broadly positive, with a “Moderate Buy” consensus rating and an average price target of $82.71. However, ratings range from a $99 overweight target to a $46 underweight target, reflecting significant disagreement.
• IREN’s latest quarterly results missed expectations, reporting an adjusted loss of $0.25 per share versus a projected $0.22 loss and revenue of $144.79 million versus $219.69 million expected. The company operates bitcoin-mining data centers and analysts expect a full-year loss of $1.96 per share.

IREN Limited (NASDAQ:IREN - Get Free Report)'s share price traded down 6% on Monday . The company traded as low as $38.69 and last traded at $38.74. Approximately 31,267,045 shares traded hands during trading, a decline of 27% from the average session volume of 42,608,047 shares. The stock had previously closed at $41.23.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group restated a "buy" rating and issued a $79.00 price objective on shares of IREN in a report on Tuesday, July 21st. BTIG Research boosted their price objective on IREN to $80.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Cantor Fitzgerald increased their price target on shares of IREN from $77.00 to $99.00 and gave the stock an "overweight" rating in a research note on Thursday, May 28th. Needham & Company LLC reiterated a "hold" rating on shares of IREN in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of IREN from $39.00 to $46.00 and gave the stock an "underweight" rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, IREN presently has an average rating of "Moderate Buy" and an average target price of $82.71.

IREN Stock Down 6.0%

The business has a 50-day simple moving average of $46.59 and a two-hundred day simple moving average of $46.67. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72. The company has a market capitalization of $13.84 billion, a price-to-earnings ratio of 80.71 and a beta of 4.29.

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

Hedge Funds Weigh In On IREN

Several institutional investors have recently bought and sold shares of IREN. North Star Investment Management Corp. acquired a new stake in shares of IREN in the 4th quarter worth $26,000. Clearstead Trust LLC acquired a new position in shares of IREN during the fourth quarter worth about $27,000. Motco acquired a new position in shares of IREN during the fourth quarter worth about $30,000. GAMMA Investing LLC raised its holdings in IREN by 177.5% during the second quarter. GAMMA Investing LLC now owns 691 shares of the company's stock worth $32,000 after purchasing an additional 442 shares in the last quarter. Finally, Purpose Unlimited Inc. purchased a new position in IREN during the fourth quarter worth about $34,000. 41.08% of the stock is owned by institutional investors and hedge funds.

About IREN

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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