IREN Limited (NASDAQ:IREN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of IREN Limited (NASDAQ:IREN) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-one analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $82.7143.

Several analysts recently weighed in on IREN shares. Compass Point reaffirmed a “buy” rating on shares of IREN in a research note on Tuesday, July 21st. Cantor Fitzgerald boosted their target price on IREN from $77.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. The Goldman Sachs Group reissued a “neutral” rating on shares of IREN in a report on Monday, July 20th. Canaccord Genuity Group reissued a “buy” rating and issued a $79.00 target price on shares of IREN in a report on Tuesday, July 21st. Finally, Weiss Ratings downgraded shares of IREN from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 7th.

IREN Trading Down 13.6%

Shares of IREN stock opened at $29.31 on Thursday. The stock’s fifty day moving average price is $49.66 and its two-hundred day moving average price is $47.34. The company has a market cap of $10.47 billion, a PE ratio of 61.06 and a beta of 4.27. IREN has a fifty-two week low of $14.72 and a fifty-two week high of $76.87. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72.

IREN (NASDAQ:IREN) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). IREN had a net margin of 20.90% and a negative return on equity of 13.13%. The business had revenue of $144.79 million during the quarter, compared to the consensus estimate of $219.69 million. Equities analysts predict that IREN will post -1.96 EPS for the current fiscal year.

Institutional Trading of IREN

A number of hedge funds have recently added to or reduced their stakes in IREN. Miller Wealth Advisors LLC grew its stake in shares of IREN by 240.0% during the fourth quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock worth $26,000 after buying an additional 480 shares during the last quarter. North Star Investment Management Corp. acquired a new position in shares of IREN during the fourth quarter worth $26,000. Clearstead Trust LLC bought a new position in shares of IREN in the 4th quarter valued at $27,000. Motco bought a new position in shares of IREN in the 4th quarter valued at $30,000. Finally, GAMMA Investing LLC lifted its stake in shares of IREN by 177.5% in the 2nd quarter. GAMMA Investing LLC now owns 691 shares of the company’s stock valued at $32,000 after acquiring an additional 442 shares during the last quarter. Institutional investors and hedge funds 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.