IREN (NASDAQ:IREN) Shares Up 2.9% – What’s Next?

by · The Markets Daily

IREN Limited (NASDAQ:IREN – Get Free Report)’s stock price shot up 2.9% during mid-day trading on Thursday . The company traded as high as $43.61 and last traded at $43.29. 26,146,646 shares were traded during trading, a decline of 40% from the average session volume of 43,306,195 shares. The stock had previously closed at $42.08.

Key Stories Impacting IREN

Here are the key news stories impacting IREN this week:

  • Positive Sentiment: B. Riley reiterated a Buy rating on IREN, reinforcing sell-side confidence in the company’s AI/data center pivot and growth path. B. Riley Keeps a Buy Rating on IREN Limited (IREN)
  • Positive Sentiment: Cantor Fitzgerald significantly increased its IREN stake, adding ~3.33M shares (substantial notional buy), signalling institutional conviction behind the thesis. Cantor Fitzgerald Loads Up 3.33 Million IREN Shares
  • Positive Sentiment: IREN appointed John Gross to push its AI data center strategy, a management move that supports execution on large GPU/AI contracts. IREN Taps John Gross To Advance AI Data Center Ambitions
  • Positive Sentiment: Several pieces note IREN’s strategic pivot from Bitcoin mining toward scalable data centers and AI capacity as a buy thesis, emphasizing long-term ARR potential if execution continues. IREN Limited (IREN) is a buy amid pivot from bitcoin mining to data centers
  • Positive Sentiment: Analysts and commentators expect a sizable ARR uplift as IREN converts AI contracts (claims of multi‑billion ARR potential), which underpins the bullish forward narrative. IREN: Major ARR Uplift Incoming
  • Neutral Sentiment: Detailed analysis frames current weakness as “the dark before the AI dawn”: Q2 revenue declined due to lower Bitcoin activity, but the firm still targets ~$3.4B AI ARR and has power capacity and GPU financing that could cover most related CapEx — a conditional, execution‑dependent story. IREN: The Dark Before The AI Dawn
  • Negative Sentiment: Coverage warning: one article flags “solid profits” but weak fundamentals, questioning margin sustainability and capital structure as IREN scales into AI infrastructure. IREN’s (NASDAQ:IREN) Solid Profits Have Weak Fundamentals
  • Negative Sentiment: Near-term headwind: the company’s most recent quarterly results showed a notable revenue decline (to ~$184.7M) and an EPS miss, underscoring execution and demand risk while the business transitions. (Background financials and prior quarter results)

Analysts Set New Price Targets

A number of brokerages have weighed in on IREN. Canaccord Genuity Group reiterated a “buy” rating and set a $70.00 target price on shares of IREN in a research note on Tuesday, February 10th. HC Wainwright upgraded IREN from a “sell” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Tuesday, January 13th. Citigroup started coverage on shares of IREN in a research report on Wednesday, November 19th. They set an “outperform” rating for the company. Compass Point reiterated a “buy” rating and issued a $105.00 price objective on shares of IREN in a research note on Friday, November 7th. Finally, Cantor Fitzgerald cut their target price on shares of IREN to $82.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Thirteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $71.69.

Read Our Latest Research Report on IREN

IREN Stock Up 2.9%

The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.96 and a current ratio of 4.96. The company has a fifty day moving average of $46.04 and a two-hundred day moving average of $44.02. The company has a market cap of $14.38 billion, a PE ratio of 32.55 and a beta of 4.27.

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

Institutional Trading of IREN

Large investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its position in IREN by 16.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,160 shares of the company’s stock valued at $308,000 after purchasing an additional 2,952 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in IREN in the second quarter worth about $10,743,000. Envestnet Asset Management Inc. bought a new position in IREN during the 2nd quarter worth about $255,000. Y Intercept Hong Kong Ltd purchased a new position in IREN during the 2nd quarter valued at about $6,877,000. Finally, Regal Partners Ltd lifted its position in shares of IREN by 42.0% in the 2nd quarter. Regal Partners Ltd now owns 820,308 shares of the company’s stock worth $11,952,000 after purchasing an additional 242,602 shares during the period. Hedge funds and other institutional investors own 41.08% of the company’s stock.

About IREN

(Get Free Report)

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.

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