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

Shares of IREN Limited (NASDAQ:IREN) have earned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $71.7692.

A number of equities research analysts have issued reports on IREN shares. Canaccord Genuity Group restated a “buy” rating and set a $70.00 price objective on shares of IREN in a research report on Tuesday, February 10th. The Goldman Sachs Group restated a “neutral” rating and set a $44.00 price objective on shares of IREN in a research report on Friday, May 8th. HC Wainwright upped their price objective on IREN to $85.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Wall Street Zen downgraded IREN from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 7th. Finally, BTIG Research upped their price objective on IREN to $80.00 and gave the company a “buy” rating in a research report on Friday, May 8th.

Trending Headlines about IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN’s co-CEO said demand for compute infrastructure is expected to be enormous, reinforcing the company’s pitch that its data centers and power capacity can benefit from AI/cloud buildout. The world will need an ENORMOUS amount of compute infrastructure: IREN co-CEO
• Positive Sentiment: Analysts and market commentary highlighted IREN’s rising AI cloud revenues, contracted GPU capacity, and large power pipeline as reasons it could keep outperforming peers, with some reports arguing the market may still be undervaluing its AI transition. Can IREN’s Rising AI Cloud Revenues Offset Bitcoin Mining Weakness? Why IREN Could Outperform Nebius Now
• Positive Sentiment: IREN continues developing its Childress data center campus, which supports the company’s broader expansion into AI-ready infrastructure and may increase future leasing and revenue potential. IREN continues developing data center campus in Childress

Institutional Investors Weigh In On IREN

Several hedge funds and other institutional investors have recently modified their holdings of IREN. Global Retirement Partners LLC purchased a new stake in shares of IREN in the third quarter worth approximately $25,000. Miller Wealth Advisors LLC raised its holdings 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 buying an additional 480 shares during the period. North Star Investment Management Corp. purchased a new stake in shares of IREN in the fourth quarter worth approximately $26,000. Clearstead Trust LLC purchased a new stake in shares of IREN in the fourth quarter worth approximately $27,000. Finally, Aventura Private Wealth LLC purchased a new stake in shares of IREN in the fourth quarter worth approximately $28,000. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

IREN Trading Up 10.4%

Shares of IREN stock opened at $52.71 on Friday. IREN has a 1 year low of $8.28 and a 1 year high of $76.87. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72. The stock’s 50 day simple moving average is $45.02 and its two-hundred day simple moving average is $46.43. The company has a market cap of $18.84 billion, a PE ratio of 109.81 and a beta of 4.17.

IREN (NASDAQ:IREN) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 $144.80 million for the quarter, compared to analysts’ expectations of $219.69 million. Research analysts predict that IREN will post -1.09 earnings per share for the current 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.