<div id="readability-page-1"><p>Arete assumed coverage on shares of <span>IREN (NASDAQ:IREN - Get Free Report)</span> in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a &#34;buy&#34; rating and a $78.00 price target on the stock. Arete's target price suggests a potential upside of 86.74% from the company's previous close.</p><ul><li>IREN Is Up 186% YTD on AI Pivot—And It’s Just Getting Started</li></ul><p>A number of other research firms also recently commented on IREN. Compass Point assumed coverage on shares of IREN in a report on Monday, September 15th. They set a &#34;buy&#34; rating for the company. Roth Capital  reiterated a &#34;buy&#34; rating and set a $35.00 target price on shares of IREN in a research report on Friday, August 29th. Jones Trading cut shares of IREN from a &#34;buy&#34; rating to a &#34;hold&#34; rating in a research report on Tuesday, September 2nd. BTIG Research increased their target price on shares of IREN from $22.00 to $32.00 and gave the stock a &#34;buy&#34; rating in a research report on Tuesday, September 9th. Finally, Wall Street Zen upgraded shares of IREN from a &#34;sell&#34; rating to a &#34;hold&#34; rating in a research report on Saturday, July 12th. Ten equities research analysts have rated the stock with a Buy rating and three have issued  a Hold rating to the stock. According to data from MarketBeat.com, IREN presently has a consensus rating of &#34;Moderate Buy&#34; and an average price target of $35.60.</p><p><b>View Our Latest Stock Report on IREN</b></p><h2>IREN Price Performance</h2><ul><li>3 AI Infrastructure Stocks Powering the Next Tech Revolution</li></ul><p>NASDAQ:IREN opened at $41.77 on Wednesday. The company has a 50-day moving average of $23.73 and a 200-day moving average of $14.02. The company has a market capitalization of $11.36 billion, a price-to-earnings ratio of 70.80 and a beta of 4.03. IREN has a 52 week low of $5.13 and a 52 week high of $44.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 4.29 and a current ratio of 4.29. </p><p>IREN (NASDAQ:IREN - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. The company had revenue of $187.30 million during the quarter, compared to the consensus estimate of $187.51 million. IREN had a net margin of 33.03% and a return on equity of 1.34%.  As a group, equities research analysts anticipate that  IREN will post 0.43 earnings per share for the current fiscal year. </p><h2>Insiders Place Their Bets</h2><ul><li>Crypto Crash Hits These 4 Blockchain Stocks—Is It Time to Buy?</li></ul><p>In related news, CEO Daniel John Roberts sold 1,000,000 shares of IREN stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $33.13, for a total transaction of $33,130,000.00. Following the transaction, the chief executive officer owned 13,989,696 shares of the company's stock, valued at $463,478,628.48. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities &amp; Exchange Commission, which can be accessed through this link. 21.55% of the stock is owned by insiders. </p><h2>Institutional Inflows and Outflows</h2><p>Several hedge funds and other institutional investors have recently bought and sold shares of the company. Situational Awareness LP lifted its stake in  IREN by 90.1% in the second quarter. Situational Awareness LP now owns 6,400,384 shares of the company's stock valued at $93,254,000 after buying an additional 3,034,254 shares in the last quarter.  Hood River Capital Management LLC bought a new position in  IREN in the second quarter valued at $74,228,000.  Invesco Ltd. grew its position in  IREN by 45.9% in the second quarter. Invesco Ltd. now owns 2,974,674 shares of the company's stock valued at $43,341,000 after purchasing an additional 936,333 shares in the last quarter.  Vident Advisory LLC grew its position in  IREN by 0.6% in the first quarter. Vident Advisory LLC now owns 2,956,712 shares of the company's stock valued at $18,006,000 after purchasing an additional 18,794 shares in the last quarter.  Finally, Merewether Investment Management LP bought a new position in  IREN in the second quarter valued at $21,025,000. Institutional investors own  41.08% of the company's stock. </p><h2>IREN Company Profile</h2> (Get Free Report)<p>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. </p><h2>Further Reading</h2><ul><li>Five stocks we like better than IREN</li><li>3 Home Improvement Stocks that Can Upgrade Your Portfolio</li><li>AutoZone Pulls Into a Buy-the-Dip Opportunity</li><li>What does consumer price index measure? </li><li>Rocket Lab’s Bullish Case Remains Intact Despite Recent Offering</li><li>The 3 Best Retail Stocks to Shop for in August</li><li>3 Quantum Computing ETFs to Know—And Why 2 Don't Hold D-Wave</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9SVJFTg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="330" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9SVJFTg"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in IREN Right Now?</h2><p>Before you consider IREN, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IREN wasn't on the list.</p><p>While IREN currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

IREN

<p>Arete has initiated coverage on IREN (NASDAQ:IREN), issuing a "buy" rating and a price target of $78.00, indicating a potential upside of 86.74% from its previous close. The stock has seen a 186% increase year-to-date, driven by an AI pivot. Other firms have also rated IREN positively, with a consensus rating of "Moderate Buy" and an average price target of $35.60. IREN reported a quarterly EPS of $0.19, exceeding estimates, and has a market cap of $11.36 billion. CEO Daniel John Roberts recently sold 1 million shares, reducing his stake by 6.67%.</p>

Arete Initiates Coverage on IREN (NASDAQ:IREN)