Key Points
- Director Christopher Guzowski sold 11,958 shares of IREN at an average price of $36.32, totaling about $434,315. After the sale, he still held 39,168 shares, a 23.39% reduction in his position.
- IREN shares were trading lower and the article notes the stock opened at $43.32, with the company carrying a market cap of $15.48 billion and a high beta of 4.27. The stock has also traded well below its 50-day moving average of $55.03.
- Analysts remain broadly positive despite recent weakness, with 14 Buy ratings versus 5 Hold and 1 Sell, and a consensus price target of $82.36. Still, the company recently missed quarterly earnings and revenue estimates, which may be weighing on sentiment.
IREN Limited (NASDAQ:IREN - Get Free Report) Director Christopher Guzowski sold 11,958 shares of IREN stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $36.32, for a total transaction of $434,314.56. Following the sale, the director owned 39,168 shares in the company, valued at $1,422,581.76. This represents a 23.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
IREN Trading Down 5.3%
IREN opened at $43.32 on Thursday. The stock has a market capitalization of $15.48 billion, a PE ratio of 90.25 and a beta of 4.27. The firm's fifty day moving average price is $55.03 and its 200 day moving average price is $47.61. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72. IREN Limited has a 12-month low of $14.61 and a 12-month high of $76.87.
IREN (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.25) EPS 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 business had revenue of $144.79 million during the quarter, compared to analyst estimates of $219.69 million. As a group, research analysts expect that IREN Limited will post -1.25 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently commented on IREN. JPMorgan Chase & Co. upped their price objective on IREN from $39.00 to $46.00 and gave the stock an "underweight" rating in a research note on Monday, May 11th. HC Wainwright boosted their price target on shares of IREN to $85.00 and gave the company a "buy" rating in a report on Friday, May 8th. Jefferies Financial Group began coverage on shares of IREN in a research report on Thursday, June 18th. They set a "buy" rating and a $79.00 price target for the company. BTIG Research increased their price objective on shares of IREN to $80.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Finally, B. Riley Financial lifted their price objective on shares of IREN from $88.00 to $96.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, IREN has a consensus rating of "Moderate Buy" and a consensus price target of $82.36.
Read Our Latest Stock Analysis on IREN
Trending Headlines about IREN
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Institutional Trading of IREN
Several hedge funds have recently added to or reduced their stakes in IREN. Miller Wealth Advisors LLC grew its stake in shares of IREN by 240.0% in the fourth 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. bought a new stake in shares of IREN during the fourth quarter valued at about $26,000. Clearstead Trust LLC acquired a new stake in IREN in the fourth quarter worth about $27,000. Aventura Private Wealth LLC acquired a new stake in IREN in the fourth quarter worth about $28,000. Finally, Motco bought a new position in IREN in the 4th quarter valued at about $30,000. Institutional investors own 41.08% of the company's stock.
About IREN
(
Get Free Report)
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.
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