IREN Limited (NASDAQ:IREN – Get Free Report) rose 1.9% during trading on Monday . The stock traded as high as $46.59 and last traded at $44.90. Approximately 39,692,328 shares traded hands during trading, a decline of 8% from the average daily volume of 42,925,430 shares. The stock had previously closed at $44.06.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on IREN shares. Canaccord Genuity Group restated a “buy” rating and issued a $79.00 price objective on shares of IREN in a research report on Tuesday, July 21st. Freedom Capital raised shares of IREN from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Jefferies Financial Group initiated coverage on shares of IREN in a research note on Thursday, June 18th. They issued a “buy” rating and a $79.00 price target for the company. BTIG Research increased their price target on shares of IREN to $80.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Weiss Ratings cut shares of IREN from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.00.
Check Out Our Latest Research Report on IREN
IREN Price Performance
Institutional Trading of IREN
Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in IREN by 177.5% in the second quarter. GAMMA Investing LLC now owns 691 shares of the company’s stock worth $32,000 after buying an additional 442 shares in the last quarter. North Star Investment Management Corp. purchased a new position in shares of IREN during the fourth quarter worth approximately $26,000. Clearstead Trust LLC bought a new stake in shares of IREN in the 4th quarter worth approximately $27,000. Motco bought a new stake in shares of IREN in the 4th quarter worth approximately $30,000. Finally, Purpose Unlimited Inc. purchased a new stake in shares of IREN in the 4th quarter valued at $34,000. Hedge funds and other 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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