IREN Limited (NASDAQ:IREN - Get Free Report) shares rose 5.4% during mid-day trading on Thursday . The stock traded as high as $19.01 and last traded at $18.69. Approximately 12,737,826 shares traded hands during trading, a decline of 31% from the average daily volume of 18,548,174 shares. The stock had previously closed at $17.73.
Analyst Upgrades and Downgrades
IREN has been the topic of a number of recent research reports. HC Wainwright cut their target price on IREN from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, May 15th. Wall Street Zen raised IREN from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. B. Riley reaffirmed a "buy" rating and set a $22.00 target price (up from $15.00) on shares of IREN in a research report on Thursday, July 10th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $16.00 target price (up from $12.00) on shares of IREN in a research report on Monday, July 28th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $23.00 target price on shares of IREN in a research report on Friday, May 16th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.89.
Check Out Our Latest Report on IREN
IREN Stock Down 0.1%
The company has a fifty day moving average price of $14.91 and a 200-day moving average price of $10.45.
IREN (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $153.38 million. Sell-side analysts expect that IREN Limited will post 0.43 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. grew its holdings in shares of IREN by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 4,528 shares of the company's stock worth $66,000 after purchasing an additional 1,839 shares during the last quarter. Main Management LLC purchased a new position in shares of IREN during the fourth quarter worth about $49,000. Crewe Advisors LLC purchased a new position in shares of IREN during the first quarter worth about $39,000. Quarry LP purchased a new position in shares of IREN during the first quarter worth about $40,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of IREN by 1,059.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the company's stock worth $82,000 after buying an additional 7,646 shares during the last quarter. 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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