In the latest trading session, 2.52 million IREN Ltd (NASDAQ:IREN) shares changed hands as the company’s beta touched 3.38. With the company’s most recent per share price at $5.72 changed hands at -$0.22 or -3.70% at last look, the market valuation stands at $1.28B. IREN’s current price is a discount, trading about -178.32% off its 52-week high of $15.92. The share price had its 52-week low at $4.15, which suggests the last value was 27.45% up since then. When we look at IREN Ltd’s average trading volume, we note the 10-day average is 13.59 million shares, with the 3-month average coming to 15.39 million.
Analysts gave the IREN Ltd (IREN) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.25. If we narrow down to specifics, the data shows that 0 out of 7 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended IREN as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. IREN Ltd’s EPS for the current quarter is expected to be 0.13.
IREN Ltd (NASDAQ:IREN) trade information
Instantly IREN was in red as seen in intraday trades today. With action -6.08%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -41.75%, with the 5-day performance at -6.08% in the red. However, in the 30-day time frame, IREN Ltd (NASDAQ:IREN) is -25.71% down. Looking at the short shares, we see there were 20.32 million shares sold at short interest cover period of 1.34 days.
The consensus price target for the stock as assigned by Wall Street analysts is 20, meaning bulls need an upside of 71.4% from its recent market value. According to analyst projections, IREN’s forecast low is 20 with 20 as the target high. To hit the forecast high, the stock’s price needs a -249.65% plunge from its current level, while the stock would need to soar -249.65% for it to hit the projected low.
IREN Ltd (IREN) estimates and forecasts
Year-over-year growth is forecast to reach 184.96% up from the last financial year.
Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of 165.42M. 10 analysts are of the opinion that IREN Ltd’s revenue for the current quarter will be 201.71M. The company’s revenue for the corresponding quarters a year ago was 54.35M and 57.44M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 204.37%. The estimates for the next quarter sales put growth at 251.18%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -65.75%. The 2025 estimates are for IREN Ltd earnings to increase by 174.12%.
IREN Ltd (NASDAQ:IREN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 6.14% of IREN Ltd shares while 44.16% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 47.05%. There are 44.16% institutions holding the IREN Ltd stock share, with CASTLE HOOK PARTNERS LP the top institutional holder. As of 2024-06-30, the company held 6.8935% of the shares, roughly 6.87 million IREN shares worth $77.55 million.
MOORE CAPITAL MANAGEMENT, LP holds the second largest percentage of outstanding shares, with 5.4839% or 5.46 million shares worth $61.69 million as of 2024-06-30.
Among Mutual Funds, the top two as of Dec 31, 2024 were Valkyrie ETF Trust II-Valkyrie Bitcoin Miners ETF and VanEck ETF Trust-VanEck Digital Transformation ETF. With 2.78 shares estimated at $17.08 million under it, the former controlled 1.30% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Digital Transformation ETF held about 0.43% of the shares, roughly 918.74 shares worth around $5.64 million.
