IREN Limited (NASDAQ:IREN) Receives Average Rating of “Moderate Buy” from Analysts

IREN Limited (NASDAQ:IREN) has earned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $71.6923.

Several analysts recently weighed in on IREN shares. Cantor Fitzgerald dropped their price target on IREN to $82.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Zacks Research upgraded IREN from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 16th. Canaccord Genuity Group reissued a “buy” rating and set a $70.00 target price on shares of IREN in a report on Tuesday, February 10th. Wall Street Zen downgraded shares of IREN from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 7th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of IREN in a research report on Friday, February 6th.

IREN Stock Performance

Shares of IREN stock opened at $37.45 on Friday. The company has a fifty day moving average price of $45.46 and a two-hundred day moving average price of $47.49. IREN has a one year low of $5.13 and a one year high of $76.87. The stock has a market cap of $12.44 billion, a P/E ratio of 28.16 and a beta of 4.31. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.96 and a quick ratio of 4.96.

IREN (NASDAQ:IREN) last released its quarterly earnings data on Thursday, February 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.37). IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The business had revenue of $184.69 million during the quarter, compared to analyst estimates of $229.64 million. The firm’s revenue for the quarter was down 23.1% compared to the same quarter last year. As a group, equities analysts predict that IREN will post 0.43 EPS for the current year.

Institutional Investors Weigh In On IREN

Several institutional investors and hedge funds have recently bought and sold shares of the company. Centaurus Financial Inc. boosted its position in shares of IREN by 1.1% during the 3rd quarter. Centaurus Financial Inc. now owns 31,482 shares of the company’s stock worth $1,477,000 after acquiring an additional 332 shares in the last quarter. Larson Financial Group LLC increased its stake in IREN by 26.7% in the third quarter. Larson Financial Group LLC now owns 1,590 shares of the company’s stock valued at $75,000 after acquiring an additional 335 shares during the last quarter. Vise Technologies Inc. raised its position in IREN by 7.9% during the fourth quarter. Vise Technologies Inc. now owns 5,780 shares of the company’s stock valued at $218,000 after purchasing an additional 424 shares in the last quarter. Miller Wealth Advisors LLC raised its position in IREN by 240.0% during the fourth quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock valued at $26,000 after purchasing an additional 480 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new stake in IREN during the third quarter worth $25,000. 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.