IREN (NASDAQ:IREN) Stock Price Down 7.8% – Here’s Why

Shares of IREN Limited (NASDAQ:IREN) dropped 7.8% during mid-day trading on Friday . The stock traded as low as $39.53 and last traded at $39.9220. Approximately 40,753,823 shares changed hands during trading, a decline of 6% from the average daily volume of 43,202,957 shares. The stock had previously closed at $43.29.

Trending Headlines about IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Analysts reiterated bullish views — Compass Point reaffirmed a Buy and set a $105 target, highlighting IREN’s expanding secured power (~4.5 GW) and strategy pivot toward data centers. Read More.
• Positive Sentiment: Institutional investor activity — Cantor Fitzgerald disclosed a material increase in its IREN stake (filed Feb. 17), signaling confidence from a large fund and providing a potential demand/support catalyst for the stock. Read More.
• Positive Sentiment: B. Riley maintained a Buy rating, reinforcing sell-side support for the company’s strategy shift. Read More.
• Neutral Sentiment: Macro/market context — IREN is frequently mentioned in Canada data-center coverage as an active operator among peers; that positions it for large-market opportunities but also more competitors and execution complexity. Read More.
• Neutral Sentiment: Odd short-interest reports show “significant increase” but list 0 shares and NaN changes — appears to be a reporting/data artifact, so no clear short-pressure signal at this time.
• Negative Sentiment: Recent earnings miss and weak top line — IREN reported a larger-than-expected loss for the Feb. quarter and revenue down ~23% year-over-year, pressuring sentiment and highlighting near-term profitability issues (high upfront capex).
• Negative Sentiment: Execution and valuation risk highlighted by analysts — Seeking Alpha pieces flag heavy upfront capex, execution risk on the neocloud pivot (despite a reported large Microsoft contract reference), and uneven near-term revenue/profitability, which can keep downward pressure on the stock until growth and margins prove out. Read More. Read More.

Analyst Ratings Changes

IREN has been the subject of a number of recent research reports. Roth Mkm set a $94.00 target price on IREN and gave the stock a “buy” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. increased their price target on IREN from $28.00 to $39.00 and gave the stock an “underweight” rating in a research note on Monday, November 24th. Zacks Research raised IREN from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. Weiss Ratings restated a “hold (c-)” rating on shares of IREN in a research note on Monday, December 29th. Finally, UBS Group reiterated a “buy” rating on shares of IREN in a research report on Friday, November 7th. Thirteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $71.69.

IREN Stock Performance

The business has a 50 day moving average of $46.03 and a 200-day moving average of $44.37. The company has a market capitalization of $13.27 billion, a P/E ratio of 30.02 and a beta of 4.27. 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 earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $229.64 million. The firm’s revenue was down 23.1% on a year-over-year basis. On average, sell-side analysts predict that IREN Limited will post 0.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Situational Awareness LP increased its holdings in shares of IREN by 20.5% in the fourth quarter. Situational Awareness LP now owns 8,700,621 shares of the company’s stock worth $328,622,000 after purchasing an additional 1,480,200 shares during the period. Hood River Capital Management LLC bought a new stake in IREN during the second quarter valued at $74,228,000. Marex Group plc grew its position in IREN by 14,216.7% during the fourth quarter. Marex Group plc now owns 4,471,263 shares of the company’s stock worth $168,880,000 after buying an additional 4,440,032 shares in the last quarter. BNP Paribas Financial Markets bought a new position in IREN in the 4th quarter worth about $158,677,000. Finally, Value Aligned Research Advisors LLC increased its stake in IREN by 18.6% in the 3rd quarter. Value Aligned Research Advisors LLC now owns 3,873,337 shares of the company’s stock worth $181,776,000 after acquiring an additional 607,189 shares during the last quarter. 41.08% of the stock is owned by institutional investors.

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.