IREN (NASDAQ:IREN) Trading 5.3% Higher on Analyst Upgrade

by · The Markets Daily

IREN Limited (NASDAQ:IREN – Get Free Report)’s share price shot up 5.3% during mid-day trading on Tuesday after HC Wainwright upgraded the stock from a sell rating to a buy rating. HC Wainwright now has a $80.00 price target on the stock. IREN traded as high as $53.00 and last traded at $52.99. 40,473,039 shares were traded during trading, an increase of 5% from the average session volume of 38,508,887 shares. The stock had previously closed at $50.33.

A number of other research firms have also commented on IREN. Zacks Research raised shares of IREN from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 16th. JMP Securities set a $80.00 price objective on shares of IREN in a research note on Wednesday, November 19th. Weiss Ratings reissued a “hold (c-)” rating on shares of IREN in a research note on Monday, December 29th. Arete Research initiated coverage on IREN in a report on Wednesday, September 24th. They issued a “buy” rating and a $78.00 target price for the company. Finally, Compass Point reiterated a “buy” rating and set a $105.00 price target on shares of IREN in a report on Friday, November 7th. Thirteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.36.

View Our Latest Research Report on IREN

More IREN News

Here are the key news stories impacting IREN this week:

  • Positive Sentiment: HC Wainwright upgraded IREN from Sell to Buy and set an $80 price target (~51% upside from current levels), lending authoritative analyst support to the rally. H.C. Wainwright Double Upgrades IREN Ltd. (IREN) to Buy
  • Positive Sentiment: A bullish Seeking Alpha piece argues IREN’s valuation is cheap, management’s AI revenue targets (including multiyear Microsoft contracts) support large upside, and the company has strong profitability/net cash — a narrative that attracts growth-focused investors. IREN: Cheap Valuation Means I Am Doubling Down
  • Positive Sentiment: Coverage highlighting IREN’s strategic pivot to AI infrastructure reinforces the thematic growth story that can re-rate the stock if execution and contract wins continue. IREN’s Strategic Pivot to AI Infrastructure Captivates the Market
  • Positive Sentiment: Retrospective coverage explaining why IREN surged in 2025 (valuable assets and execution) reminds investors of the company’s growth story and can support momentum buying. Why IREN Limited Skyrocketed 285% in 2025
  • Neutral Sentiment: Reports say IREN is seeking funding to scale for its Microsoft AI partnership — this supports growth plans but raises near-term financing/dilution questions depending on the structure (debt vs. equity). IREN Seeks Funding to Power Major Microsoft AI Partnership
  • Neutral Sentiment: A short interest update appears to show no meaningful reported short position (data shows 0 shares), so short-squeeze dynamics are unlikely to be a material driver based on the available report.
  • Negative Sentiment: A contrarian Seeking Alpha article warns IREN is an “incredibly speculative gamble,” highlighting execution risk, valuation uncertainty and the possibility that AI narratives are overstated — a caution that can prompt profit-taking among risk-averse holders. Here’s Why IREN Is An Incredibly Speculative Gamble, Not An Investment

Hedge Funds Weigh In On IREN

A number of hedge funds have recently modified their holdings of the stock. Belpointe Asset Management LLC boosted its position in IREN by 21.8% during the first quarter. Belpointe Asset Management LLC now owns 24,974 shares of the company’s stock valued at $152,000 after purchasing an additional 4,465 shares during the last quarter. Balefire LLC acquired a new position in IREN in the 2nd quarter worth about $1,214,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of IREN during the 2nd quarter worth about $4,808,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of IREN by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 61,248 shares of the company’s stock worth $892,000 after purchasing an additional 3,307 shares in the last quarter. Finally, AFG Fiduciary Services Limited Partnership acquired a new stake in shares of IREN during the 2nd quarter valued at about $254,000. 41.08% of the stock is owned by institutional investors and hedge funds.

IREN Trading Up 5.3%

The company has a 50 day moving average of $46.42 and a 200 day moving average of $37.88. The firm has a market cap of $15.02 billion, a P/E ratio of 27.31 and a beta of 4.25. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.52 and a current ratio of 5.52.

IREN (NASDAQ:IREN – Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.48). The business had revenue of $240.30 million for the quarter, compared to the consensus estimate of $244.60 million. IREN had a net margin of 86.96% and a negative return on equity of 3.60%. The firm’s revenue was up 28.3% compared to the same quarter last year. Analysts predict that IREN Limited will post 0.43 EPS for the current fiscal year.

IREN Company Profile

(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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