IREN Limited (NASDAQ:IREN - Get Free Report)'s stock price dropped 4.4% during trading on Thursday . The company traded as low as $27.01 and last traded at $26.97. Approximately 9,127,533 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 19,626,943 shares. The stock had previously closed at $28.21.
Analyst Ratings Changes
IREN has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of IREN from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Jones Trading downgraded shares of IREN from a "buy" rating to a "hold" rating in a research report on Tuesday. Cantor Fitzgerald increased their price objective on shares of IREN from $27.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Roth Capital reissued a "buy" rating and issued a $35.00 price objective on shares of IREN in a research report on Friday, August 29th. Finally, Canaccord Genuity Group upped their target price on shares of IREN from $23.00 to $37.00 and gave the company a "buy" rating in a report on Friday, August 29th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $30.44.
Read Our Latest Stock Report on IREN
IREN Trading Down 7.4%
The stock has a market cap of $4.91 billion, a PE ratio of 44.29 and a beta of 4.03. The business's fifty day moving average is $18.64 and its 200 day moving average is $11.62. The company has a quick ratio of 0.46, a current ratio of 4.29 and a debt-to-equity ratio of 0.53.
IREN (NASDAQ:IREN - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. IREN had a net margin of 33.03% and a return on equity of 1.34%. The firm had revenue of $187.30 million for the quarter, compared to the consensus estimate of $187.51 million. As a group, analysts predict that IREN Limited will post 0.43 earnings per share for the current year.
Institutional Investors Weigh In On IREN
Hedge funds and other institutional investors have recently modified their holdings of the company. Aurelius Capital Management LP purchased a new stake in shares of IREN during the first quarter worth about $311,000. Maridea Wealth Management LLC grew its holdings in IREN by 57.1% in the first quarter. Maridea Wealth Management LLC now owns 320,167 shares of the company's stock valued at $1,950,000 after purchasing an additional 116,408 shares during the period. Fox Run Management L.L.C. purchased a new stake in IREN in the first quarter valued at approximately $169,000. Trexquant Investment LP grew its holdings in IREN by 158.6% in the first quarter. Trexquant Investment LP now owns 1,038,220 shares of the company's stock valued at $6,323,000 after purchasing an additional 636,767 shares during the period. Finally, Private Advisor Group LLC grew its holdings in IREN by 4,075.5% in the first quarter. Private Advisor Group LLC now owns 508,118 shares of the company's stock valued at $3,094,000 after purchasing an additional 495,949 shares during the period. 41.08% of the stock is currently owned by hedge funds and other institutional investors.
IREN Company Profile
(
Get Free Report)
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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