IREN (NASDAQ:IREN) Stock Price Down 7.4% - Time to Sell?

Key Points

• IREN shares fell 7.4% on Friday to about $40.95 (intraday low $39.54) on above‑average volume of 52.4M shares, down from a prior close of $44.24.
• The company reported a quarterly EPS of –$0.44, missing the consensus of –$0.07, and revenue of $184.69M was down 23.1% year‑over‑year and below estimates.
• Analysts are mixed—MarketBeat shows a consensus rating of "Moderate Buy" with a $71.69 target (13 Buys, 3 Holds, 2 Sells)—while the stock’s fundamentals reflect high volatility (beta 4.27) and leverage (debt/equity 1.51).

IREN Limited (NASDAQ:IREN - Get Free Report) fell 7.4% on Friday . The company traded as low as $39.54 and last traded at $40.95. 52,419,854 shares were traded during trading, an increase of 24% from the average session volume of 42,297,680 shares. The stock had previously closed at $44.24.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IREN. JPMorgan Chase & Co. increased their target price on IREN from $28.00 to $39.00 and gave the company an "underweight" rating in a research note on Monday, November 24th. Canaccord Genuity Group reissued a "buy" rating and set a $70.00 price objective on shares of IREN in a report on Tuesday, February 10th. Zacks Research raised shares of IREN from a "strong sell" rating to a "hold" rating in a research report on Tuesday, December 16th. Compass Point reaffirmed a "buy" rating and set a $105.00 price target on shares of IREN in a research report on Friday, November 7th. Finally, Wall Street Zen lowered IREN from a "hold" rating to a "strong sell" rating in a report on Saturday, February 7th. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $71.69.

IREN Price Performance

The business has a fifty day moving average of $46.71 and a 200-day moving average of $44.90. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.96 and a current ratio of 4.96. The firm has a market capitalization of $13.61 billion, a P/E ratio of 30.79 and a beta of 4.27.

IREN (NASDAQ:IREN - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.37). IREN had a negative return on equity of 10.01% and a net margin of 56.59%.The business had revenue of $184.69 million during the quarter, compared to the consensus estimate of $229.64 million. IREN's revenue for the quarter was down 23.1% compared to the same quarter last year. On average, sell-side analysts forecast that IREN Limited will post 0.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. purchased a new position in IREN during the 2nd quarter worth approximately $255,000. Regal Partners Ltd lifted its position in shares of IREN by 42.0% in the second quarter. Regal Partners Ltd now owns 820,308 shares of the company's stock worth $11,952,000 after purchasing an additional 242,602 shares in the last quarter. X Square Capital LLC boosted its holdings in shares of IREN by 129.9% during the second quarter. X Square Capital LLC now owns 435,951 shares of the company's stock worth $6,352,000 after purchasing an additional 246,333 shares during the period. Verity Asset Management Inc. purchased a new position in IREN during the second quarter valued at approximately $379,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in IREN in the 2nd quarter valued at approximately $3,060,000. 41.08% of the stock is owned by institutional investors and hedge funds.

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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