IREN Limited (NASDAQ:IREN) Receives Consensus Rating of “Moderate Buy” from Brokerages

IREN Limited (NASDAQ:IREN) has received an average rating of “Moderate Buy” from the nineteen brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $82.6154.

A number of brokerages recently weighed in on IREN. Sanford C. Bernstein set a $96.00 price objective on IREN in a research report on Thursday, June 4th. Weiss Ratings raised IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. BTIG Research raised their price objective on IREN to $80.00 and gave the company a “buy” rating in a research report on Friday, May 8th. The Goldman Sachs Group set a $50.00 price objective on IREN in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. raised their price objective on IREN from $39.00 to $46.00 and gave the company an “underweight” rating in a research report on Monday, May 11th.

IREN Price Performance

Shares of IREN stock opened at $59.18 on Wednesday. IREN has a 1-year low of $9.52 and a 1-year high of $76.87. The stock’s 50-day moving average is $53.00 and its 200 day moving average is $47.13. The company has a market cap of $21.15 billion, a P/E ratio of 123.29 and a beta of 4.22. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72.

IREN (NASDAQ:IREN) last issued its quarterly earnings data 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 company had revenue of $144.80 million for the quarter, compared to the consensus estimate of $219.69 million. Research analysts predict that IREN will post -1.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IREN

A number of institutional investors have recently added to or reduced their stakes in the stock. Miller Wealth Advisors LLC boosted its holdings in IREN by 240.0% in the fourth quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock worth $26,000 after acquiring an additional 480 shares in the last quarter. North Star Investment Management Corp. acquired a new stake in IREN in the fourth quarter worth about $26,000. Clearstead Trust LLC acquired a new stake in IREN in the fourth quarter worth about $27,000. Aventura Private Wealth LLC acquired a new stake in IREN in the fourth quarter worth about $28,000. Finally, Motco acquired a new stake in IREN in the fourth quarter worth about $30,000. Institutional investors 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.