IREN Limited (NASDAQ:IREN - Get Free Report)'s share price was up 7.6% on Monday . The company traded as high as $18.64 and last traded at $17.46. Approximately 23,005,116 shares were traded during mid-day trading, an increase of 37% from the average daily volume of 16,780,942 shares. The stock had previously closed at $16.23.
Wall Street Analyst Weigh In
Several research analysts have issued reports on IREN shares. Wall Street Zen raised IREN from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Macquarie upped their price target on IREN from $15.50 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Canaccord Genuity Group reiterated a "buy" rating and issued a $23.00 price objective on shares of IREN in a research report on Friday, May 16th. B. Riley restated a "buy" rating and issued a $22.00 price objective (up from $15.00) on shares of IREN in a report on Thursday, July 10th. Finally, HC Wainwright reduced their target price on IREN from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $20.44.
Check Out Our Latest Report on IREN
IREN Price Performance
The company has a 50-day moving average of $11.31 and a 200-day moving average of $9.58.
IREN (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.06). IREN had a negative net margin of 9.40% and a negative return on equity of 2.12%. The company had revenue of $148.10 million during the quarter, compared to the consensus estimate of $153.38 million. Research analysts anticipate that IREN Limited will post 0.43 earnings per share for the current fiscal year.
Institutional Investors Weigh In On IREN
Several institutional investors have recently bought and sold shares of IREN. Crewe Advisors LLC acquired a new position in IREN during the first quarter worth $39,000. Quarry LP bought a new position in shares of IREN in the 1st quarter valued at about $40,000. Main Management LLC acquired a new stake in shares of IREN in the fourth quarter valued at about $49,000. Delta Financial Group Inc. bought a new stake in IREN during the first quarter worth about $61,000. Finally, R Squared Ltd boosted its position in IREN by 170.1% during the first quarter. R Squared Ltd now owns 10,290 shares of the company's stock valued at $63,000 after purchasing an additional 6,480 shares during the last quarter. Institutional investors own 41.08% of the company's stock.
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.
See Also
Before you consider IREN, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IREN wasn't on the list.
While IREN currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
