Christopher Guzowski Sells 11,958 Shares of IREN (NASDAQ:IREN) Stock

IREN Limited (NASDAQ:IREN) Director Christopher Guzowski sold 11,958 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $36.32, for a total transaction of $434,314.56. Following the completion of the transaction, the director owned 39,168 shares in the company, valued at $1,422,581.76. The trade was a 23.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

IREN Trading Down 10.4%

Shares of IREN stock opened at $38.82 on Friday. IREN Limited has a 1-year low of $14.72 and a 1-year high of $76.87. The company’s fifty day simple moving average is $54.91 and its 200-day simple moving average is $47.60. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72. The stock has a market capitalization of $13.87 billion, a PE ratio of 80.88 and a beta of 4.27.

IREN (NASDAQ:IREN) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). IREN had a negative return on equity of 13.13% and a net margin of 20.90%.The company had revenue of $144.79 million during the quarter, compared to analysts’ expectations of $219.69 million. As a group, equities analysts anticipate that IREN Limited will post -1.25 earnings per share for the current year.

IREN News Roundup

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Bernstein reaffirmed a Buy rating and $100 price target on IREN, implying meaningful upside if the company executes on its AI/data-center strategy. IREN Ltd (IREN) Upside Becomes Attractive Amid Stock Price Decline
• Positive Sentiment: IREN was added to the Russell 1000 Index and also achieved NVIDIA Exemplar Cloud status, which may improve institutional visibility and reinforce its credibility as an AI infrastructure provider. IREN added to Russell 1000, achieves NVIDIA Exemplar Cloud status
• Positive Sentiment: Management said its available AI capacity is fully contracted, suggesting demand remains strong and that future growth may depend more on execution than on finding customers. IREN: Dead Money Or The Next AI Winner? (Rating Upgrade)

Institutional Investors Weigh In On IREN

Several large investors have recently bought and sold shares of IREN. Invesco Ltd. lifted its position in IREN by 45.9% during the second quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock valued at $43,341,000 after purchasing an additional 936,333 shares during the last quarter. StoneX Group Inc. bought a new stake in shares of IREN in the 2nd quarter worth about $158,000. NewEdge Advisors LLC raised its position in shares of IREN by 245.0% during the 2nd quarter. NewEdge Advisors LLC now owns 43,281 shares of the company’s stock valued at $631,000 after buying an additional 30,736 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of IREN during the 2nd quarter valued at about $2,333,000. Finally, Peapack Gladstone Financial Corp lifted its holdings in shares of IREN by 30.0% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 18,200 shares of the company’s stock valued at $265,000 after acquiring an additional 4,200 shares during the last quarter. Institutional investors own 41.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on IREN. Weiss Ratings upgraded shares of IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Sanford C. Bernstein set a $96.00 price objective on shares of IREN in a research note on Thursday, June 4th. HC Wainwright raised their price objective on shares of IREN to $85.00 and gave the company a “buy” rating in a research report on Friday, May 8th. BTIG Research lifted their target price on shares of IREN to $80.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Freedom Capital raised shares of IREN to a “hold” rating in a report on Wednesday, April 1st. Fourteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, IREN currently has an average rating of “Moderate Buy” and an average target price of $82.36.

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.