IREN Limited (NASDAQ:IREN) Given Average Recommendation of “Moderate Buy” by Analysts

IREN Limited (NASDAQ:IREN) has earned a consensus rating of “Moderate Buy” from the twenty ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $82.3571.

A number of equities analysts have weighed in on the stock. BTIG Research lifted their price target on shares of IREN to $80.00 and gave the company a “buy” rating in a report on Friday, May 8th. The Goldman Sachs Group set a $50.00 price objective on IREN in a report on Wednesday, May 27th. HC Wainwright increased their target price on IREN to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Sanford C. Bernstein set a $96.00 target price on IREN in a research report on Thursday, June 4th. Finally, Jefferies Financial Group began coverage on IREN in a report on Thursday, June 18th. They issued a “buy” rating and a $79.00 target price on the stock.

Hedge Funds Weigh In On IREN

Several hedge funds and other institutional investors have recently modified their holdings of the company. Miller Wealth Advisors LLC increased its position in IREN by 240.0% during the 4th quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock worth $26,000 after purchasing an additional 480 shares in the last quarter. North Star Investment Management Corp. purchased a new position in IREN in the fourth quarter valued at approximately $26,000. Clearstead Trust LLC acquired a new position in IREN during the fourth quarter valued at approximately $27,000. Aventura Private Wealth LLC acquired a new position in IREN during the fourth quarter valued at approximately $28,000. Finally, Motco purchased a new stake in IREN during the fourth quarter worth approximately $30,000. 41.08% of the stock is owned by institutional investors and hedge funds.

IREN Stock Performance

Shares of IREN stock opened at $38.82 on Friday. The firm has a market cap of $13.87 billion, a P/E ratio of 80.88 and a beta of 4.27. IREN has a 1-year low of $14.72 and a 1-year high of $76.87. 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 firm’s 50-day simple moving average is $54.72 and its 200-day simple moving average is $47.54.

IREN (NASDAQ:IREN) last released its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) 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 $144.79 million during the quarter, compared to analysts’ expectations of $219.69 million. As a group, equities analysts forecast that IREN will post -1.25 EPS for the current year.

Key Headlines Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Analyst commentary remained constructive on IREN’s AI pivot, with one report saying the company’s transformation from a bitcoin miner into an AI infrastructure provider is gaining traction and helping fuel the bullish long-term case. Forget Nvidia: This Infrastructure Upstart Is The Real Backdoor AI Winner
• Positive Sentiment: Another market note said IREN’s AI data center contract optimism has lifted fair-value estimates, highlighting renewed confidence in its Microsoft and NVIDIA-related opportunities. Iren (NasdaqGS:IREN) Stock Sees Fair Value Lift On AI Data Center Contract Optimism
• Positive Sentiment: Bernstein reiterated a Buy rating and a $100 price target, underscoring the view that IREN still has meaningful upside if its AI data center buildout continues on schedule. IREN Ltd (IREN) Upside Becomes Attractive Amid Stock Price Decline
• Positive Sentiment: IREN appointed a new Chief Product Officer and Chief Development Officer, which may support execution as it expands beyond bitcoin mining into AI infrastructure. IREN Appoints Chief Product Officer and Chief Development Officer
• Neutral Sentiment: Coverage of IREN as a “promising Bitcoin stock” and general AI/data center watchlist mentions kept the name in focus, but did not add a clear new catalyst. Promising Bitcoin Stocks To Keep An Eye On – July 2nd
• Neutral Sentiment: IREN also announced a large RSU package for its co-CEOs, which may be seen as a long-term retention tool, though it has drawn scrutiny over potential dilution and governance. IREN grants significant multi-year RSU awards to co-CEOs
• Negative Sentiment: Investor sentiment weakened after reports that IREN’s board approved a large founder equity package and a pricey Golden State Warriors sponsorship, raising concerns about dilution, capital allocation, and governance. IREN (NasdaqGS:IREN) Approves $800 Million Founder Equity Deal And Warriors Sponsorship
• Negative Sentiment: Several articles highlighted criticism over the co-CEO stock grants and related “payout machine” concerns, adding to worries that management incentives may not be aligned with shareholders. IREN Stock Heads For Ninth Straight Loss: $50M-A-Year NBA Spends, $788M Co-Founder Pay Packet Leave Retail Unimpressed
• Negative Sentiment: A director sold 11,958 shares, which can reinforce caution when the stock is already under pressure. Christopher Guzowski Sells 11,958 Shares of IREN (NASDAQ:IREN) 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.