The IBD SmartSelect Composite Rating for IREN rose from 94 to 96 Wednesday.
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The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.
IREN is not currently near a proper buy point. See if the stock goes on to form a new base and offer a new buying opportunity.
One weak spot is the company's 37 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of A shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.
The company reported a 0% increase in earnings for Q4. Sales growth rose 255%, up from 166% in the prior report. That marks one quarter of rising revenue gains.
IREN holds the No. 1 rank among its peers in the Financial Services-Specialty industry group. X Financial ADR and Nasdaq are also among the group's highest-rated stocks.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
