<div id="readability-page-1"><p><span>IREN (NASDAQ:IREN - Get Free Report)</span> had its price target boosted by analysts at Macquarie  from $33.00 to $55.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an &#34;outperform&#34; rating on the stock. Macquarie's price objective would suggest a potential upside of 21.13% from the stock's current price.</p><ul><li>How IREN is Building an AI Powerhouse on a Bitcoin Foundation</li></ul><p>A number of other equities research analysts have also recently commented on IREN. Compass Point initiated coverage on shares of IREN in a research note on Monday, September 15th. They set a &#34;buy&#34; rating on the stock. Arete Research initiated coverage on IREN in a research report on Wednesday, September 24th. They set a &#34;buy&#34; rating and a $78.00 target price on the stock. Wall Street Zen upgraded IREN from a &#34;sell&#34; rating to a &#34;hold&#34; rating in a research report on Saturday, July 12th. Jones Trading lowered IREN from a &#34;buy&#34; rating to a &#34;hold&#34; rating in a research report on Tuesday, September 2nd. Finally, B. Riley increased their target price on IREN from $22.00 to $29.00 and gave the company a &#34;buy&#34; rating in a research report on Friday, August 29th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and one  has assigned  a Sell rating to the stock. According to MarketBeat.com, IREN currently has an average rating of &#34;Moderate Buy&#34; and an average price target of $44.92.</p><p><b>Get Our Latest Stock Report on IREN</b></p><h2>IREN Stock Performance</h2><ul><li>IREN Is Up 186% YTD on AI Pivot—And It’s Just Getting Started</li></ul><p>Shares of NASDAQ IREN traded up $3.55 during midday trading on Monday, reaching $45.41. 25,161,379 shares of the stock were exchanged, compared to its average volume of 21,519,393. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 76.74 and a beta of 4.03. IREN has a twelve month low of $5.13 and a twelve month high of $49.39. The firm has a 50-day simple moving average of $25.37 and a two-hundred day simple moving average of $14.88. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.53. </p><p>IREN (NASDAQ:IREN - Get Free Report) last issued 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 business had revenue of $187.30 million for the quarter, compared to analysts' expectations of $187.51 million. IREN had a net margin of 33.03% and a return on equity of 1.34%.  As a group, analysts anticipate that  IREN will post 0.43 EPS for the current fiscal year. </p><h2>Insider Activity at IREN</h2><ul><li>3 AI Infrastructure Stocks Powering the Next Tech Revolution</li></ul><p>In other news, CEO Daniel John Roberts sold 1,000,000 shares of IREN stock in a transaction on Thursday, September 11th. The stock was 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 in the company, valued at $463,478,628.48. The trade was a 6.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities &amp; Exchange Commission, which is available at this hyperlink. 21.55% of the stock is currently owned by corporate insiders. </p><h2>Institutional Trading of IREN</h2><p>Several institutional investors and hedge funds have recently bought and sold shares of the stock. Situational Awareness LP raised its holdings in  IREN by 90.1% in the 2nd 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 during the period.  Hood River Capital Management LLC purchased a new stake in  IREN in the 2nd quarter valued at about $74,228,000.  Invesco Ltd. raised its holdings in  IREN by 45.9% in the 2nd quarter. Invesco Ltd. now owns 2,974,674 shares of the company's stock valued at $43,341,000 after buying an additional 936,333 shares during the period.  Vident Advisory LLC raised its holdings in  IREN by 0.6% in the 1st quarter. Vident Advisory LLC now owns 2,956,712 shares of the company's stock valued at $18,006,000 after buying an additional 18,794 shares during the period.  Finally, Merewether Investment Management LP purchased a new stake in  IREN in the 2nd quarter valued at about $21,025,000. 41.08% of the stock is currently owned by hedge funds and other institutional investors. </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>See Also</h2><ul><li>Five stocks we like better than IREN</li><li>What is Put Option Volume?</li><li>2 AI Stocks With Record Breaking Rallies: Can They Continue?</li><li>Where Do I Find 52-Week Highs and Lows?</li><li>ASML Is a Hidden Gem in This Technology Rally, a Catch Up Play</li><li>How to Use the MarketBeat Excel Dividend Calculator</li><li>5 EV Battery and Lithium Stocks Charging the Future</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>Macquarie has raised its price target for IREN (NASDAQ:IREN) from $33.00 to $55.00, maintaining an "outperform" rating. This suggests a potential upside of 21.13% from the current price. Other analysts have also given positive ratings, with 12 analysts rating it as a Buy. IREN's stock has seen significant growth, up 186% YTD, and recently traded at $45.41. The company reported a quarterly EPS of $0.19, exceeding estimates. CEO Daniel John Roberts sold 1 million shares, reducing his stake by 6.67%.</p>

Macquarie Issues Positive Forecast for IREN (NASDAQ:IREN) Stock Price