IREN Limited (NASDAQ:IREN – Get Free Report) has earned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, fourteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $82.7143.
Several equities research analysts have weighed in on the stock. HC Wainwright increased their target price on shares of IREN from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Freedom Capital raised shares of IREN from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Jefferies Financial Group started coverage on shares of IREN in a research report on Thursday, June 18th. They issued a “buy” rating and a $79.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of IREN in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. lifted their target price on IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a report on Monday, May 11th.
View Our Latest Analysis on IREN
IREN Price Performance
IREN (NASDAQ:IREN – Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share 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 during the quarter, compared to analyst estimates of $219.69 million. On average, equities analysts anticipate that IREN will post -1.96 EPS for the current year.
Hedge Funds Weigh In On IREN
Institutional investors have recently modified their holdings of the business. CENTRAL TRUST Co increased its holdings in IREN by 19.8% during the first quarter. CENTRAL TRUST Co now owns 1,485 shares of the company’s stock worth $51,000 after buying an additional 245 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of IREN by 14.5% in the 2nd quarter. Versant Capital Management Inc now owns 2,509 shares of the company’s stock valued at $115,000 after purchasing an additional 317 shares during the period. Vermillion Wealth Management Inc. lifted its stake in IREN by 19.1% in the 1st quarter. Vermillion Wealth Management Inc. now owns 2,049 shares of the company’s stock valued at $70,000 after purchasing an additional 328 shares during the last quarter. Larson Financial Group LLC grew its holdings in IREN by 26.7% during the third quarter. Larson Financial Group LLC now owns 1,590 shares of the company’s stock worth $75,000 after purchasing an additional 335 shares during the period. Finally, Hollencrest Capital Management raised its stake in IREN by 50.0% in the first quarter. Hollencrest Capital Management now owns 1,050 shares of the company’s stock valued at $36,000 after buying an additional 350 shares during the period. Institutional investors own 41.08% of the company’s stock.
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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