IREN (NASDAQ:IREN) Trading Down 1.5% - What's Next?

Key Points

• IREN missed quarterly expectations: The company reported EPS of ($0.44) versus consensus ($0.07) and revenue of $184.69M versus $229.64M, with quarterly revenue down 23.1% year‑over‑year.
• Stock pulled back intraday: Shares were down 1.5% (last $41.37) with volume about 28% below average, leaving the price well below its 50‑ and 200‑day moving averages (~$46.6).
• Analyst view remains cautiously positive: Thirteen analysts rate IREN a Buy, four Hold and one Sell, producing a consensus rating of "Moderate Buy" and an average target of $71.69 despite recent mixed upgrades and downgrades.

Shares of IREN Limited (NASDAQ:IREN - Get Free Report) dropped 1.5% on Thursday . The stock traded as low as $39.27 and last traded at $41.37. Approximately 29,327,452 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 40,784,484 shares. The stock had previously closed at $41.98.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald cut their target price on shares of IREN to $82.00 and set an "overweight" rating on the stock in a report on Friday, February 6th. B. Riley Financial reiterated a "buy" rating on shares of IREN in a research note on Friday, February 6th. HC Wainwright raised shares of IREN from a "sell" rating to a "buy" rating and set a $80.00 price objective on the stock in a research report on Tuesday, January 13th. Wall Street Zen lowered shares of IREN from a "hold" rating to a "strong sell" rating in a research note on Saturday, February 7th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $70.00 target price on shares of IREN in a report on Tuesday, February 10th. Thirteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, IREN has an average rating of "Moderate Buy" and a consensus target price of $71.69.

IREN Trading Down 1.5%

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 stock has a market capitalization of $13.75 billion, a PE ratio of 31.11 and a beta of 4.31. The business's 50-day moving average is $46.65 and its two-hundred day moving average is $46.39.

IREN (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported ($0.44) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.37). IREN had a negative return on equity of 10.01% and a net margin of 56.59%.The firm had revenue of $184.69 million for the quarter, compared to analysts' expectations of $229.64 million. The business's quarterly revenue was down 23.1% on a year-over-year basis. As a group, equities research analysts anticipate that IREN Limited will post 0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IREN. Envestnet Asset Management Inc. purchased a new stake in IREN in the 2nd quarter valued at approximately $255,000. Fox Run Management L.L.C. raised its stake in shares of IREN by 9.1% during the 2nd quarter. Fox Run Management L.L.C. now owns 30,244 shares of the company's stock worth $441,000 after buying an additional 2,530 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of IREN by 19.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 24,165 shares of the company's stock worth $352,000 after buying an additional 3,897 shares in the last quarter. Evolution Wealth Advisors LLC lifted its holdings in shares of IREN by 66.5% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 128,550 shares of the company's stock valued at $1,873,000 after buying an additional 51,330 shares during the period. Finally, Foundations Investment Advisors LLC acquired a new stake in shares of IREN in the 2nd quarter valued at approximately $146,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

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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