IronNet (NYSE:IRNT) Lowered to Underperform at Jefferies Financial Group

IronNet (NYSE:IRNTGet Rating) was downgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to an “underperform” rating in a research note issued to investors on Thursday, September 15th, Marketbeat Ratings reports.

IronNet Price Performance

IRNT traded down $0.02 during trading on Thursday, hitting $0.85. 8,305 shares of the stock traded hands, compared to its average volume of 1,681,549. The business has a 50 day moving average price of $2.11 and a 200 day moving average price of $2.72. The company has a market cap of $86.43 million, a price-to-earnings ratio of -0.26 and a beta of 0.28. IronNet has a twelve month low of $0.84 and a twelve month high of $29.55.

IronNet (NYSE:IRNTGet Rating) last announced its quarterly earnings data on Wednesday, September 14th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.07). IronNet had a negative return on equity of 458.41% and a negative net margin of 1,052.76%. The business had revenue of $6.61 million for the quarter, compared to the consensus estimate of $7.70 million. On average, equities research analysts predict that IronNet will post -0.94 earnings per share for the current year.

Insider Buying and Selling

In other IronNet news, CEO William E. Welch sold 41,859 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $2.37, for a total value of $99,205.83. Following the sale, the chief executive officer now owns 7,194,432 shares in the company, valued at $17,050,803.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO William E. Welch sold 41,859 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $2.37, for a total value of $99,205.83. Following the completion of the transaction, the chief executive officer now owns 7,194,432 shares of the company’s stock, valued at $17,050,803.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William E. Welch sold 28,700 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $2.11, for a total transaction of $60,557.00. Following the completion of the transaction, the chief executive officer now owns 7,236,291 shares of the company’s stock, valued at approximately $15,268,574.01. The disclosure for this sale can be found here. Insiders sold a total of 89,296 shares of company stock worth $203,232 in the last three months. 38.60% of the stock is owned by corporate insiders.

Institutional Trading of IronNet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Citigroup Inc. grew its position in shares of IronNet by 70.3% in the 1st quarter. Citigroup Inc. now owns 12,034 shares of the company’s stock valued at $46,000 after buying an additional 4,969 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of IronNet by 3.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 168,345 shares of the company’s stock worth $640,000 after buying an additional 5,982 shares during the period. BCGM Wealth Management LLC acquired a new stake in shares of IronNet during the first quarter worth $30,000. HighTower Advisors LLC bought a new position in shares of IronNet in the 4th quarter worth about $50,000. Finally, Legal & General Group Plc acquired a new position in shares of IronNet in the 2nd quarter valued at about $28,000. 20.65% of the stock is currently owned by institutional investors and hedge funds.

IronNet Company Profile

(Get Rating)

IronNet, Inc designs and develops solutions for cyber-attacks. The company offers IronDefense, an advanced network detection and response solution that provides behavior-based and AI-driven analytics at the network level to detect anomalous activity at individual enterprises and prioritize the threats in its network; and IronDome, a threat-exchange solution that enables collective defense member enterprises to actively exchange individual anonymized cyber anomalies at machine speed in a community of public-private peers.

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