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

IREN Limited (NASDAQ:IREN) Director Christopher Guzowski sold 11,958 shares of IREN stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $36.32, for a total value of $434,314.56. Following the completion of the transaction, the director directly owned 39,168 shares of the company’s stock, valued at $1,422,581.76. This represents a 23.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

IREN Price Performance

NASDAQ IREN traded down $2.41 on Wednesday, hitting $43.32. 41,471,166 shares of the company were exchanged, compared to its average volume of 41,996,348. IREN Limited has a 1-year low of $14.61 and a 1-year high of $76.87. The firm has a 50 day moving average of $55.14 and a two-hundred day moving average of $47.61. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44. The company has a market cap of $15.48 billion, a P/E ratio of 90.25 and a beta of 4.22.

IREN (NASDAQ:IREN) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $219.69 million. On average, equities analysts predict that IREN Limited will post -1.25 EPS for the current year.

Hedge Funds Weigh In On IREN

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on IREN. Canaccord Genuity Group raised their price target on shares of IREN from $70.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. BTIG Research upped their price objective on IREN to $80.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Cantor Fitzgerald increased their price objective on IREN from $77.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Weiss Ratings raised IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Finally, HC Wainwright lifted their target price on IREN to $85.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.