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

Shares of IREN Limited (NASDAQ:IREN) have been given a consensus rating of “Moderate Buy” by the eighteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $71.6923.

A number of research analysts recently weighed in on the company. HC Wainwright raised IREN from a “sell” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Tuesday, January 13th. Weiss Ratings downgraded IREN from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. Citizens Jmp set a $80.00 price target on shares of IREN in a research note on Wednesday, November 19th. Canaccord Genuity Group reissued a “buy” rating and set a $70.00 price objective on shares of IREN in a research report on Tuesday, February 10th. Finally, Wall Street Zen lowered shares of IREN from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 7th.

IREN Stock Performance

Shares of IREN stock opened at $40.95 on Monday. The company’s fifty day moving average price is $46.73 and its 200-day moving average price is $45.44. The stock has a market cap of $13.61 billion, a PE ratio of 30.79 and a beta of 4.31. The company has a current ratio of 4.96, a quick ratio of 4.96 and a debt-to-equity ratio of 1.51. IREN has a 12 month low of $5.13 and a 12 month high of $76.87.

IREN (NASDAQ:IREN) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $229.64 million. IREN’s quarterly revenue was down 23.1% on a year-over-year basis. On average, equities analysts expect that IREN will post 0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On IREN

Hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in IREN during the 3rd quarter valued at $25,000. Miller Wealth Advisors LLC lifted its holdings in shares of 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. North Star Investment Management Corp. purchased a new stake in shares of IREN during the fourth quarter valued at $26,000. Clearstead Trust LLC bought a new stake in IREN in the 4th quarter worth about $27,000. Finally, Aventura Private Wealth LLC bought a new stake in IREN in the 4th quarter worth about $28,000. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

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.