In the last trading session, 14.09 million shares of the IREN Ltd (NASDAQ:IREN) were traded, and its beta was 3.62. Most recently the company’s share price was $7.69, and it changed around $0.54 or 7.55% from the last close, which brings the market valuation of the company to $1.68B. IREN currently trades at a discount to its 52-week high of $15.92, offering almost -107.02% off that amount. The share price’s 52-week low was $4.15, which indicates that the current value has risen by an impressive 46.03% since then. We note from IREN Ltd’s average daily trading volume that its 10-day average is 11.26 million shares, with the 3-month average coming to 15.04 million.
IREN Ltd stock received a consensus recommendation rating of Buy, based on a mean score of 1.25. If we narrow it down even further, the data shows that 0 out of 13 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 2 recommended IREN as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. IREN Ltd is expected to report earnings per share of 0.15 for the current quarter.
IREN Ltd (NASDAQ:IREN) trade information
Instantly IREN has showed a green trend with a performance of 7.55% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 7.73 on recent trading dayincreased the stock’s daily price by 0.52%. The company’s shares are currently down -21.69% year-to-date, but still up 4.63% over the last five days. On the other hand, IREN Ltd (NASDAQ:IREN) is -29.32% down in the 30-day period. We can see from the shorts that 22.25 million shares have been sold at a short interest cover period of 1.39 day(s).
The consensus price target as assigned by Wall Street analysts is $17, which translates to bulls needing to increase their stock price by 54.76% from its current value. Analyst projections state that IREN is forecast to be at a low of $14 and a high of $20.
IREN Ltd (IREN) estimates and forecasts
The year-over-year growth rate is expected to be 186.20%, up from the previous year.
Consensus estimates provided by 10 financial analysts predict the company will bring in an average of 166.05M in revenue for the current quarter. 10 analysts expect IREN Ltd to make 203.66M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 54.35M and 57.44M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 205.53%. Forecasts for the next quarter put sales growth at 254.58%. Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -65.75%.
IREN Ltd (NASDAQ:IREN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 6.43% of IREN Ltd shares, and 46.17% of them are in the hands of institutional investors. The stock currently has a share float of 49.35%. IREN Ltd stock is held by 245.0 institutions, with CASTLE HOOK PARTNERS LP being the largest institutional investor. By 2024-06-30, it held 6.8935% of the shares, which is about 6.87 million shares worth $77.55 million.
MOORE CAPITAL MANAGEMENT, LP, with 5.4839% or 5.46 million shares worth $61.69 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Valkyrie Bitcoin Miners ETF and Fidelity Blue Chip Growth Fund were the top two Mutual Funds as of Dec 31, 2024 . The former held 2.78 shares worth $21.41 million, making up 1.30% of all outstanding shares. On the other hand, Fidelity Blue Chip Growth Fund held roughly 1.32 shares worth around $10.18 million, which represents about 0.62% of the total shares outstanding.
