<div id="readability-page-1"><p>IREN Limited (NASDAQ:IREN - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $55.86, but opened at $59.07. IREN shares last traded at $62.09, with a volume of 10,647,475 shares.</p><h2>Analysts Set New Price Targets</h2><ul><li>3 of the Most Overbought Stocks in the Market Right Now</li></ul><p>A number of equities analysts recently commented on the company. Weiss Ratings  reaffirmed a &#34;hold (c-)&#34; rating on shares of IREN in a research note on Wednesday, October 8th. Wall Street Zen raised IREN from a &#34;sell&#34; rating to a &#34;hold&#34; rating in a research note on Saturday, July 12th. Cantor Fitzgerald lifted their price objective on IREN from $27.00 to $41.00 and gave the stock an &#34;overweight&#34; rating in a research note on Friday, August 29th. Arete Research assumed coverage on IREN in a research note on Wednesday, September 24th. They issued a &#34;buy&#34; rating and a $78.00 price objective on the stock. Finally, B. Riley  restated a &#34;buy&#34; rating on shares of IREN in a report on Wednesday. Eleven research analysts have rated the stock with a Buy rating, three have issued  a Hold rating and one  has assigned  a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of &#34;Moderate Buy&#34; and a consensus price target of $54.45.</p><p><b>View Our Latest Research Report on IREN</b></p><h2>IREN Stock Performance</h2><ul><li>How IREN is Building an AI Powerhouse on a Bitcoin Foundation</li></ul><p>The stock has a market cap of $16.44 billion, a P/E ratio of 102.44 and a beta of 4.19. The company has a fifty day moving average price of $40.46 and a 200 day moving average price of $21.38. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.29 and a quick 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, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $187.30 million during the quarter, compared to the consensus estimate of $187.51 million. IREN had a return on equity of 1.34% and a net margin of 33.03%. On average, equities analysts expect that  IREN Limited will post 0.43 EPS for the current year. </p><h2>Insider Transactions at IREN</h2><ul><li>IREN Is Up 186% YTD on AI Pivot—And It’s Just Getting Started</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 completion of the sale, the chief executive officer owned 13,989,696 shares in the company, valued at approximately $463,478,628.48. This represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own  5.02% of the company's stock. </p><h2>Institutional Investors Weigh In On IREN</h2><p>Institutional investors have recently bought and sold shares of the stock. Aurelius Capital Management LP bought a new stake in  IREN during the first quarter worth $311,000.  Balefire LLC bought a new stake in  IREN during the second quarter worth $1,214,000.  Hartline Investment Corp bought a new stake in  IREN during the second quarter worth $228,000.  Maridea Wealth Management LLC grew its stake in  IREN by 57.1% in the 1st quarter. Maridea Wealth Management LLC now owns 320,167 shares of the company's stock valued at $1,950,000 after purchasing an additional 116,408 shares during the period.  Finally, Chicago Partners Investment Group LLC grew its stake in  IREN by 14.4% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 75,508 shares of the company's stock valued at $1,100,000 after purchasing an additional 9,492 shares during the period. 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>Read More</h2><ul><li>Five stocks we like better than IREN</li><li>Insider Selling Explained: Can it Inform Your Investing Choices?</li><li>3 Regional Bank Stocks That Crushed Q3 Earnings</li><li>High Flyers: 3 Natural Gas Stocks for March 2022</li><li>Freeport-McMoRan Posts Strong Earnings Despite Indonesia Shutdown</li><li>How to Choose Top Rated Stocks</li><li>Quantum Computing Stocks Are on Fire: 3 to Watch Right Now</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 gapped up from $55.86 to $59.07 before closing at $62.09, with a trading volume of 10,647,475 shares. Analysts have mixed ratings, with 11 recommending a Buy, 3 a Hold, and 1 a Sell. The stock has a market cap of $16.44 billion and a P/E ratio of 102.44. IREN reported $0.19 EPS for the last quarter, beating estimates. CEO Daniel John Roberts sold 1 million shares recently, reducing his ownership by 6.67%. Institutional investors own 41.08% of the company.</p>

IREN (NASDAQ:IREN) Shares Gap Up - Should You Buy?