Jefferies Financial Group cut shares of IronNet (NYSE:IRNT – Get Rating) from a hold rating to an underperform rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports.

IronNet Price Performance

Shares of NYSE IRNT opened at $1.22 on Thursday. IronNet has a fifty-two week low of $1.11 and a fifty-two week high of $47.50. The stock's 50-day simple moving average is $2.28 and its 200-day simple moving average is $2.88.

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IronNet (NYSE:IRNT – Get Rating) last released its quarterly earnings results on Tuesday, June 14th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.13). The business had revenue of $6.69 million during the quarter, compared to the consensus estimate of $7.05 million. As a group, research analysts predict that IronNet will post -0.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IRNT. Vanguard Group Inc. grew its stake in shares of IronNet by 103.6% in the 1st quarter. Vanguard Group Inc. now owns 1,749,499 shares of the company's stock valued at $6,648,000 after purchasing an additional 890,248 shares during the last quarter. State Street Corp grew its stake in shares of IronNet by 727.0% in the 2nd quarter. State Street Corp now owns 988,319 shares of the company's stock valued at $2,184,000 after purchasing an additional 868,814 shares during the last quarter. Northern Trust Corp grew its stake in shares of IronNet by 759.9% in the 2nd quarter. Northern Trust Corp now owns 505,633 shares of the company's stock valued at $1,118,000 after purchasing an additional 446,832 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of IronNet in the 1st quarter valued at approximately $1,117,000. Finally, Bridgewater Advisors Inc. purchased a new stake in shares of IronNet in the first quarter valued at approximately $490,000. 20.65% of the stock is currently owned by hedge funds and other institutional investors.

About IronNet

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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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