Analysts Set IREN Limited (NASDAQ:IREN) PT at $82.62

IREN Limited (NASDAQ:IREN) has earned a consensus rating of “Moderate Buy” from the nineteen brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $82.6154.

A number of analysts have recently commented on the stock. B. Riley Financial lifted their price target on shares of IREN from $88.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. BTIG Research boosted their target price on shares of IREN to $80.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Cantor Fitzgerald increased their price target on shares of IREN from $77.00 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Freedom Capital upgraded shares of IREN to a “hold” rating in a research report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a research report on Monday, May 11th.

IREN Stock Performance

Shares of IREN stock opened at $59.77 on Wednesday. The company has a 50 day moving average price of $51.99 and a 200-day moving average price of $46.96. IREN has a 52 week low of $9.52 and a 52 week high of $76.87. The firm has a market capitalization of $21.36 billion, a PE ratio of 124.52 and a beta of 4.22. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44.

IREN (NASDAQ:IREN) last announced 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 $144.80 million during the quarter, compared to the consensus estimate of $219.69 million. As a group, equities research analysts expect that IREN will post -1.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IREN. Oppenheimer & Co. Inc. lifted its holdings in shares of IREN by 257.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 26,958 shares of the company’s stock worth $1,018,000 after buying an additional 19,423 shares in the last quarter. Sanctuary Advisors LLC raised its stake in IREN by 282.2% during the fourth quarter. Sanctuary Advisors LLC now owns 46,224 shares of the company’s stock valued at $1,746,000 after purchasing an additional 34,129 shares in the last quarter. Avaii Wealth Management LLC raised its stake in IREN by 208.9% during the fourth quarter. Avaii Wealth Management LLC now owns 145,767 shares of the company’s stock valued at $5,506,000 after purchasing an additional 98,581 shares in the last quarter. Private Advisor Group LLC raised its stake in IREN by 12.7% during the third quarter. Private Advisor Group LLC now owns 781,666 shares of the company’s stock valued at $36,684,000 after purchasing an additional 88,081 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in IREN during the fourth quarter valued at $939,000. 41.08% of the stock is currently owned by institutional investors.

IREN Company Profile

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.