Wall Street Zen upgraded shares of IREN (NASDAQ:IREN - Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.
Several other research analysts also recently weighed in on IREN. Canaccord Genuity Group reissued a "buy" rating and issued a $23.00 target price on shares of IREN in a research report on Friday, May 16th. B. Riley reissued a "buy" rating and issued a $22.00 price target (up previously from $15.00) on shares of IREN in a report on Thursday, July 10th. HC Wainwright lowered their target price on shares of IREN from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. Finally, Macquarie upped their target price on shares of IREN from $15.50 to $20.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $20.44.
Read Our Latest Stock Analysis on IREN
IREN Stock Performance
Shares of NASDAQ:IREN traded down $0.51 during trading on Friday, reaching $16.78. The stock had a trading volume of 16,943,033 shares, compared to its average volume of 16,855,647. The business has a fifty day moving average price of $10.66 and a 200-day moving average price of $9.43. IREN has a fifty-two week low of $5.13 and a fifty-two week high of $18.64.
IREN (NASDAQ:IREN - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported $0.11 earnings per share 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 firm had revenue of $148.10 million during the quarter, compared to analysts' expectations of $153.38 million. On average, equities analysts expect that IREN will post 0.43 EPS for the current year.
Institutional Trading of IREN
A number of large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of IREN by 96.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 710,890 shares of the company's stock worth $6,981,000 after acquiring an additional 348,864 shares in the last quarter. Farther Finance Advisors LLC bought a new position in shares of IREN during the 4th quarter worth approximately $98,000. Advantage Alpha Capital Partners LP bought a new position in shares of IREN in the fourth quarter valued at $423,000. Parametrica Management Ltd bought a new position in shares of IREN in the fourth quarter valued at $136,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of IREN in the fourth quarter valued at $179,000. 41.08% of the stock is owned by institutional investors.
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.
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