IronNet (NYSE:IRNT) Stock Rating Upgraded by Zacks Investment Research

IronNet (NYSE:IRNTGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports. The firm currently has a $3.25 target price on the stock. Zacks Investment Research‘s target price suggests a potential upside of 10.92% from the company’s current price.

According to Zacks, “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. “

Separately, Jefferies Financial Group cut their target price on shares of IronNet from $3.25 to $2.75 in a research note on Monday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $11.67.

NYSE IRNT traded up $0.05 during trading on Thursday, hitting $2.93. 478,936 shares of the company traded hands, compared to its average volume of 3,774,786. IronNet has a 12 month low of $2.03 and a 12 month high of $47.50. The business has a fifty day simple moving average of $3.17 and a 200 day simple moving average of $4.61.

IronNet (NYSE:IRNTGet Rating) last released its quarterly earnings data on Wednesday, April 6th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.24). The business had revenue of $8.18 million during the quarter, compared to the consensus estimate of $6.85 million. On average, equities analysts expect that IronNet will post -0.81 EPS for the current year.

In related news, CEO William E. Welch sold 29,254 shares of the company’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $2.84, for a total value of $83,081.36. Following the completion of the sale, the chief executive officer now owns 8,893,409 shares in the company, valued at approximately $25,257,281.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO James C. Gerber sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $3.17, for a total transaction of $95,100.00. Following the completion of the sale, the chief financial officer now owns 1,145,793 shares of the company’s stock, valued at approximately $3,632,163.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,522,205 shares of company stock worth $5,663,172.

A number of hedge funds and other institutional investors have recently made changes to their positions in IRNT. Advisor Group Holdings Inc. acquired a new position in IronNet in the 3rd quarter worth $90,000. Goldman Sachs Group Inc. acquired a new position in IronNet in the 3rd quarter worth $491,000. Temasek Holdings Private Ltd acquired a new position in shares of IronNet during the 3rd quarter worth about $47,601,000. Athanor Capital LP acquired a new position in shares of IronNet during the 3rd quarter worth about $15,220,000. Finally, Morgan Stanley acquired a new position in shares of IronNet during the 3rd quarter worth about $476,000. 13.99% of the stock is owned by hedge funds and other institutional investors.

IronNet Company Profile (Get Rating)

IronNet, Inc designs and develops solutions for cyber-attacks. It offers IronDefense, a network traffic analysis platform that delivers scalable behavioral analysis and integrated packet-level cyber hunt to detect advanced threats; and IronDome, a collective defense solution that delivers machine-speed visibility of potential threat campaigns targeting participant industry peers.

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