IREN (NASDAQ:IREN) Given New $56.00 Price Target at HC Wainwright

IREN (NASDAQ:IREN) had its target price reduced by HC Wainwright from $74.00 to $56.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on IREN. Compass Point restated a “buy” rating and issued a $85.00 price target on shares of IREN in a research report on Friday, August 28th. B. Riley Financial cut their price objective on shares of IREN from $91.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Cantor Fitzgerald lowered their price objective on shares of IREN from $99.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday. JPMorgan Chase & Co. upgraded IREN from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $46.00 to $65.00 in a research note on Monday, September 14th. Finally, Morgan Stanley cut shares of IREN to a “buy” rating in a report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.54.

IREN Price Performance

Shares of IREN stock traded up $3.61 on Friday, hitting $21.64. 112,473,833 shares of the company traded hands, compared to its average volume of 56,795,948. The company has a current ratio of 3.55, a quick ratio of 3.55 and a debt-to-equity ratio of 1.80. IREN has a 12-month low of $17.16 and a 12-month high of $70.71. The firm’s 50-day simple moving average is $35.87 and its 200 day simple moving average is $43.60. The company has a market cap of $8.53 billion, a P/E ratio of -5.30 and a beta of 4.33.

IREN (NASDAQ:IREN) last issued its earnings results on Thursday, November 5th. The company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.06. The company had revenue of $228.00 million during the quarter, compared to analysts’ expectations of $228.26 million. IREN had a negative return on equity of 15.46% and a negative net margin of 99.38%. Analysts expect that IREN will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Eurizon Capital SGR S.p.A. boosted its position in shares of IREN by 13.1% during the third quarter. Eurizon Capital SGR S.p.A. now owns 34,405 shares of the company’s stock worth $1,406,000 after buying an additional 3,990 shares during the period. R Squared Ltd purchased a new position in IREN during the 3rd quarter valued at about $218,000. Nan Fung Trinity HK Ltd. acquired a new position in IREN in the 3rd quarter valued at about $12,058,000. Jacobi Capital Management LLC purchased a new stake in IREN during the third quarter worth about $100,000. Finally, Machina Capital S.A.S. purchased a new stake in IREN during the third quarter worth about $1,278,000. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

More IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Fiscal Q1 2027 AI cloud revenue nearly tripled sequentially to about $200 million. Total revenue rose 66% to $228 million, and the adjusted loss per share was narrower than analysts expected—supporting the earnings-driven rebound. IREN stock rebounds as company’s Q1 AI cloud revenue surges
• Positive Sentiment: The revenue backlog topped $20 billion, with roughly two-thirds attributed to investment-grade customers. A new five-year AI cloud agreement includes customer prepayment of 90% of GPU costs, which may help fund expansion. Iren: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: HC Wainwright and Cantor Fitzgerald cut their price targets to $56 and $47, respectively, while keeping Buy and Overweight ratings. The revised targets still imply substantial upside from the quoted share price, but the reductions reflect more cautious expectations. HC Wainwright rating information
• Negative Sentiment: IREN pushed its $4 billion annualized-revenue target into early 2027 after deployment delays, including at projects tied to Microsoft. These setbacks raise execution concerns and postpone expected growth. IREN Q1 Earnings Call Highlights AI Growth and Deployment Delays
• Negative Sentiment: Despite AI growth, IREN reported a $263 million net loss; Bitcoin mining revenue also fell sharply. Rising net debt and substantial remaining capital needs—including about $6 billion yet to be financed—could increase balance-sheet and dilution risks. IREN moves its $4 billion AI cloud goal into 2027

IREN Company Profile

IREN Limited, formerly known as Iris Energy Limited, is a data center infrastructure company focused on bitcoin mining and high-performance computing. The company develops and operates data centers designed to support energy-intensive computing applications, including bitcoin mining and artificial intelligence (AI) cloud services.

IREN’s operations are supported by company-owned electrical infrastructure, data centers and computing hardware. Its bitcoin mining business uses specialized application-specific integrated circuit (ASIC) machines, while its AI cloud offering is designed to provide access to advanced computing resources for AI development and other high-performance computing workloads.

Founded in 2018 and headquartered in Sydney, Australia, IREN has developed data center operations in North America, including facilities in British Columbia, Canada, and Texas.