IREN saw its IBD SmartSelect Composite Rating jump to 96 Wednesday, up from 94 the day before.
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The new rating shows the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. 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 chart pattern and offer a new buying opportunity.
One weak spot is the company's 38 EPS Rating, which tracks quarterly and annual earnings-per-share 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.
In Q4, the company posted 0% EPS growth. Revenue growth increased 255%, up from 166% in the prior report. That marks one quarter of increasing revenue gains.
IREN holds the No. 2 rank among its peers in the Financial Services-Specialty industry group. X Financial ADR is the top-ranked stock within the group.
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