IREN Limited (NASDAQ:IREN – Get Free Report)’s share price fell 3.8% during mid-day trading on Friday . The stock traded as low as $35.16 and last traded at $36.80. 63,607,192 shares changed hands during trading, an increase of 48% from the average daily volume of 42,838,895 shares. The stock had previously closed at $38.26.
Analyst Ratings Changes
IREN has been the subject of several recent research reports. Sanford C. Bernstein set a $96.00 price target on shares of IREN in a report on Thursday, June 4th. Freedom Capital raised shares of IREN from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. HC Wainwright upped their target price on IREN from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Compass Point reaffirmed a “buy” rating on shares of IREN in a research report on Tuesday, July 21st. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $79.00 price target on shares of IREN in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.71.
IREN Stock Performance
IREN (NASDAQ:IREN – Get Free Report) last posted its earnings results on Friday, May 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). IREN had a net margin of 20.90% and a negative return on equity of 13.13%. The firm had revenue of $144.79 million for the quarter, compared to analysts’ expectations of $219.69 million. As a group, equities research analysts expect that IREN Limited will post -1.96 earnings per share for the current fiscal year.
Institutional Trading of IREN
A number of institutional investors have recently made changes to their positions in the business. Invesco Ltd. grew its stake in IREN by 45.9% during the 2nd quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock worth $43,341,000 after buying an additional 936,333 shares during the last quarter. StoneX Group Inc. purchased a new stake in IREN in the second quarter valued at about $158,000. NewEdge Advisors LLC boosted its holdings in IREN by 245.0% in the second quarter. NewEdge Advisors LLC now owns 43,281 shares of the company’s stock worth $631,000 after acquiring an additional 30,736 shares in the last quarter. Sei Investments Co. acquired a new stake in IREN in the second quarter worth about $2,333,000. Finally, Peapack Gladstone Financial Corp grew its stake in shares of IREN by 30.0% during the second quarter. Peapack Gladstone Financial Corp now owns 18,200 shares of the company’s stock worth $265,000 after acquiring an additional 4,200 shares during the last quarter. Institutional investors and hedge funds own 41.08% of the company’s stock.
IREN Company Profile
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.
Further Reading
- Five stocks we like better than IREN
- Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector
- Amazon’s Earnings Beat Shows Why AWS Is Back at the Center of the Bull Case
- Apple’s Record Quarter Could Not Outrun Its Guidance Problem
- McKesson’s Compounding Keeps Adding Up
Receive News & Ratings for IREN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IREN and related companies with MarketBeat.com's FREE daily email newsletter.
-USDTB.png){kind=small}
