IronNet (NYSE:IRNT) had its price target reduced by research analysts at Jefferies Financial Group from $6.00 to $4.25 in a report issued on Thursday, The Fly reports. Jefferies Financial Group’s target price indicates a potential upside of 15.80% from the stock’s current price.
Other research analysts have also issued research reports about the company. Needham & Company LLC lowered IronNet from a “buy” rating to a “hold” rating in a report on Thursday, December 16th. BTIG Research assumed coverage on IronNet in a report on Friday, September 24th. They set a “neutral” rating on the stock. Finally, Zacks Investment Research raised IronNet from a “sell” rating to a “hold” rating in a report on Wednesday.
IRNT stock traded down $0.15 on Thursday, reaching $3.67. 23,799 shares of the company’s stock were exchanged, compared to its average volume of 1,091,432. The company has a fifty day moving average of $7.99. IronNet has a twelve month low of $3.71 and a twelve month high of $47.50.
IronNet (NYSE:IRNT) last announced its quarterly earnings data on Wednesday, December 15th. The company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.11). The company had revenue of $6.91 million during the quarter, compared to analysts’ expectations of $13.45 million. On average, equities research analysts anticipate that IronNet will post -3.28 earnings per share for the current year.
In other IronNet news, Director John M. Keane bought 25,000 shares of IronNet stock in a transaction that occurred on Monday, January 3rd. The shares were purchased at an average cost of $4.24 per share, for a total transaction of $106,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Keith Brian Alexander sold 24,100 shares of the stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $10.12, for a total value of $243,892.00. The disclosure for this sale can be found here. Insiders sold 384,100 shares of company stock worth $4,159,792 over the last 90 days.
A number of large investors have recently made changes to their positions in the business. KPCB DGF II Associates LLC acquired a new stake in IronNet during the third quarter worth about $102,334,000. Capital Research Global Investors acquired a new stake in IronNet during the third quarter worth about $64,236,000. Temasek Holdings Private Ltd acquired a new stake in IronNet during the third quarter worth about $47,601,000. Athanor Capital LP acquired a new stake in shares of IronNet in the third quarter valued at about $15,220,000. Finally, Phoenix Holdings Ltd. acquired a new stake in shares of IronNet in the third quarter valued at about $17,050,000. Institutional investors own 67.32% of the company’s stock.
About IronNet
IronNet Cybersecurity Inc provides cybersecurity by delivering collective defense platform. IronNet Cybersecurity Inc, formerly known as LGL Systems Acquisition Corp., is based in RENO, NV.