IREN (NASDAQ:IREN) Trading Up 2.7% – Time to Buy?

IREN Limited (NASDAQ:IREN)’s share price was up 2.7% during trading on Wednesday . The company traded as high as $43.73 and last traded at $42.08. Approximately 28,099,664 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 43,841,457 shares. The stock had previously closed at $40.97.

IREN News Summary

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Cantor Fitzgerald added ~3.33 million IREN shares, signaling strong institutional demand and providing upward support for the stock. Cantor Fitzgerald Loads Up 3.33 Million IREN Shares
• Positive Sentiment: B. Riley maintained a Buy rating and recently raised its price target, reinforcing analyst support for IREN’s AI growth outlook. B Riley keeps a buy rating on IREN Limited
• Positive Sentiment: IREN appointed John Gross as Chief Innovation Officer to lead thermal architecture and liquid‑cooling design — a technical hire that strengthens execution risk perception for multi‑GW AI data centers. IREN Appoints John Gross as Chief Innovation Officer
• Positive Sentiment: Analyst and commentary pieces highlight a potential major ARR uplift tied to IREN’s AI contracts and financing (GPU financing and customer prepayments are said to cover much of Microsoft‑related CapEx), supporting the long‑term revenue thesis. IREN: Major ARR Uplift Incoming
• Neutral Sentiment: Several deep‑dive pieces frame the move as “the dark before the AI dawn”: short‑term crypto revenue pain but intact long‑term AI ARR targets — useful context but contingent on execution. IREN: The Dark Before The AI Dawn
• Negative Sentiment: Coverage warns of weak underlying fundamentals despite solid reported profits and flags prior quarterly revenue and EPS misses — a reminder of near‑term growth and margin risk. IREN’s Solid Profits Have Weak Fundamentals
• Negative Sentiment: Comparisons to other crypto/AI plays note IREN faces near‑term pressure from its AI pivot and valuation debates; plus publicized insider sales raise governance/overhang concerns. IREN vs. MSTR: Which Bitcoin-Focused Stock is a Buy Right Now?

Analyst Ratings Changes

IREN has been the topic of several recent analyst reports. Citizens Jmp set a $80.00 target price on shares of IREN in a research note on Wednesday, November 19th. The Goldman Sachs Group began coverage on shares of IREN in a report on Thursday, December 18th. They set a “neutral” rating and a $39.00 price target on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of IREN in a research note on Monday, December 29th. Wall Street Zen cut IREN from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 7th. Finally, Cantor Fitzgerald decreased their price target on IREN to $82.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Thirteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, IREN has a consensus rating of “Moderate Buy” and a consensus price target of $71.69.

IREN Price Performance

The firm has a market capitalization of $13.98 billion, a P/E ratio of 31.64 and a beta of 4.27. The stock’s 50 day simple moving average is $46.08 and its 200 day simple moving average is $44.03. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.96 and a current ratio of 4.96.

IREN (NASDAQ:IREN) last posted its quarterly earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.37). IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The company had revenue of $184.69 million for the quarter, compared to the consensus estimate of $229.64 million. The firm’s revenue was down 23.1% compared to the same quarter last year. As a group, analysts expect that IREN Limited will post 0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IREN

Institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in IREN in the third quarter worth approximately $1,854,000. Y Intercept Hong Kong Ltd bought a new stake in IREN during the 2nd quarter valued at $6,877,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of IREN by 88.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 115,230 shares of the company’s stock valued at $5,408,000 after acquiring an additional 53,982 shares during the period. Meridian Wealth Management LLC purchased a new position in shares of IREN in the 3rd quarter valued at $2,995,000. Finally, X Square Capital LLC raised its position in shares of IREN by 129.9% in the 2nd quarter. X Square Capital LLC now owns 435,951 shares of the company’s stock worth $6,352,000 after acquiring an additional 246,333 shares in the last quarter. Hedge funds and other institutional investors own 41.08% of the company’s stock.

IREN Company Profile

IREN Limited, formerly known as Iris Energy Limited, owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.