<div id="readability-page-1"><p>IREN Limited (NASDAQ:IREN - Get Free Report)'s share price traded up 9.8% during trading on Thursday after Macquarie raised their price target on the stock to $86.00. Macquarie currently has an outperform rating on the stock. IREN traded as high as $56.15 and last traded at $56.89. 18,535,432 shares changed hands during trading, a decline of 22% from the average session volume of 23,694,916 shares. The stock had previously closed at $51.83.</p><ul><li>3 of the Most Overbought Stocks in the Market Right Now</li></ul><p>A number of other equities research analysts have also recently weighed in on the company. Arete began coverage on IREN in a research note on Wednesday, September 24th. They issued a &#34;buy&#34; rating and a $78.00 price objective for the company. JPMorgan Chase &amp; Co.  reiterated an &#34;underweight&#34; rating and issued a $24.00 price objective (up previously from $16.00) on shares of IREN in a research note on Friday, September 26th. Jones Trading cut IREN from a &#34;buy&#34; rating to a &#34;hold&#34; rating in a research note on Tuesday, September 2nd. B. Riley  reiterated a &#34;buy&#34; rating on shares of IREN in a research note on Wednesday. Finally, Weiss Ratings  reiterated a &#34;hold (c-)&#34; rating on shares of IREN in a research note on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating, three have issued  a Hold rating and one  has given a Sell rating to the company's stock. According to MarketBeat, the company  has a consensus rating of &#34;Moderate Buy&#34; and an average price target of $54.45.</p><p><b>Get Our Latest Report on IREN</b></p><h2>Insiders Place Their Bets</h2><ul><li>How IREN is Building an AI Powerhouse on a Bitcoin Foundation</li></ul><p>In related news, CEO Daniel John Roberts sold 1,000,000 shares of the company's 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 of the company's stock, valued at $463,478,628.48. This represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.02% of the stock is owned by corporate insiders. </p><h2>Institutional Inflows and Outflows</h2><p>A number of institutional investors and hedge funds have recently bought and sold shares of IREN. Global Retirement Partners LLC acquired a new position in  IREN during the third quarter worth $25,000.  Quarry LP acquired a new stake in  IREN in the first quarter valued at $40,000.  Delta Financial Group Inc. acquired a new stake in  IREN in the first quarter valued at $61,000.  R Squared Ltd grew its holdings in  IREN by 170.1% in the first quarter. R Squared Ltd now owns 10,290 shares of the company's stock valued at $63,000 after purchasing an additional 6,480 shares during the last quarter.  Finally, Advisors Asset Management Inc. grew its holdings in  IREN by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 4,528 shares of the company's stock valued at $66,000 after purchasing an additional 1,839 shares during the last quarter. Institutional investors and hedge funds own  41.08% of the company's stock. </p><h2>IREN Price Performance</h2><ul><li>IREN Is Up 186% YTD on AI Pivot—And It’s Just Getting Started</li></ul><p>The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.53. The company has a market cap of $15.46 billion, a price-to-earnings ratio of 96.59 and a beta of 4.19. The company has a fifty day simple moving average of $39.73 and a two-hundred day simple moving average of $21.03. </p><p>IREN (NASDAQ:IREN - Get Free Report) last posted its earnings results on Thursday, August 28th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $187.30 million for the quarter, compared to analyst estimates of $187.51 million. IREN had a return on equity of 1.34% and a net margin of 33.03%. On average, equities research analysts anticipate that  IREN Limited will post 0.43 earnings per share for the current fiscal year. </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>Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?</li><li>Capital One Just Flashed a Buy Signal—New Highs Could Be Next</li><li>ESG Stocks, What Investors Should Know</li><li>GM Posts Largest Gain Since the Pandemic: Shares Still Look Cheap</li><li>How Can Retail Investors Trade the Toronto Stock Exchange (TSX)?</li><li>Tesla’s Earnings Review: Does the Juice Justify the Squeeze?</li></ul><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>IREN Limited (NASDAQ:IREN) shares rose 9.8% after Macquarie upgraded its price target to $86.00, maintaining an outperform rating. The stock traded as high as $56.15, closing at $56.89, with 18.5 million shares exchanged. Analysts have mixed ratings, with 11 buy, 3 hold, and 1 sell. The company reported $0.19 EPS, beating estimates, and has a market cap of $15.46 billion. IREN focuses on bitcoin mining data centers and has seen a 186% YTD increase due to its AI pivot.</p>

IREN (NASDAQ:IREN) Shares Up 9.8% on Analyst Upgrade