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 stock was sold at an average price of $36.32, for a total value of $434,314.56. Following the transaction, the director owned 39,168 shares in the company, valued at approximately $1,422,581.76. This represents a 23.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

IREN Trading Down 5.3%

Shares of IREN stock traded down $2.41 during trading hours on Wednesday, hitting $43.32. The company’s stock had a trading volume of 41,471,166 shares, compared to its average volume of 41,996,348. IREN Limited has a 12 month low of $14.61 and a 12 month high of $76.87. The stock has a 50 day moving average of $55.14 and a 200 day moving average of $47.61. The company has a market capitalization of $15.48 billion, a PE ratio of 90.25 and a beta of 4.22. 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 (NASDAQ:IREN) last released 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 business had revenue of $144.79 million for the quarter, compared to analyst estimates of $219.69 million. Analysts predict that IREN Limited will post -1.25 earnings per share for the current year.

Institutional Trading of IREN

A number of institutional investors have recently made changes to their positions in IREN. Western Wealth Management LLC boosted its holdings in IREN by 62.4% during the first quarter. Western Wealth Management LLC now owns 8,962 shares of the company’s stock worth $307,000 after purchasing an additional 3,443 shares during the last quarter. Rathbones Group PLC increased its stake in IREN by 31.7% in the 1st quarter. Rathbones Group PLC now owns 26,321 shares of the company’s stock valued at $902,000 after buying an additional 6,333 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its stake in IREN by 14.3% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 30,560 shares of the company’s stock valued at $1,048,000 after buying an additional 3,813 shares during the last quarter. NewEdge Advisors LLC lifted its position in IREN by 5.7% during the 1st quarter. NewEdge Advisors LLC now owns 29,461 shares of the company’s stock worth $1,010,000 after buying an additional 1,588 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in IREN by 58.4% during the 1st quarter. Bank of America Corp DE now owns 2,138,619 shares of the company’s stock worth $73,312,000 after buying an additional 788,547 shares in the last quarter. Institutional investors own 41.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IREN shares. Jefferies Financial Group assumed coverage on shares of IREN in a research note on Thursday, June 18th. They issued a “buy” rating and a $79.00 price target on the stock. BTIG Research increased their price objective on shares of IREN to $80.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Freedom Capital raised shares of IREN to a “hold” rating in a research report on Wednesday, April 1st. B. Riley Financial raised their price objective on shares of IREN from $88.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Finally, Weiss Ratings raised shares of IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. Fourteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average 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.