IREN Limited (NASDAQ:IREN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of IREN Limited (NASDAQ:IREN) have received a consensus recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $82.3571.

A number of equities research analysts have recently issued reports on IREN shares. JPMorgan Chase & Co. increased their target price on IREN from $39.00 to $46.00 and gave the company an “underweight” rating in a research note on Monday, May 11th. B. Riley Financial upped their price target on IREN from $88.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Canaccord Genuity Group increased their price objective on shares of IREN from $70.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. The Goldman Sachs Group set a $50.00 price objective on shares of IREN in a research note on Wednesday, May 27th. Finally, HC Wainwright boosted their target price on shares of IREN to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 8th.

Hedge Funds Weigh In On IREN

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

IREN News Summary

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

IREN Price Performance

Shares of NASDAQ IREN opened at $38.82 on Friday. IREN has a 12-month low of $14.72 and a 12-month high of $76.87. The company has a market cap of $13.87 billion, a P/E ratio of 80.88 and a beta of 4.27. 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 stock has a fifty day moving average price of $54.72 and a 200 day moving average price of $47.54.

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

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.