IREN (NASDAQ:IREN) Stock Price Down 1.1% After Analyst Downgrade

IREN Limited (NASDAQ:IREN)’s stock price was down 1.1% during trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $65.00 to $55.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. IREN traded as low as $20.05 and last traded at $21.41. 83,626,934 shares changed hands during mid-day trading, an increase of 87% from the average session volume of 44,769,125 shares. The stock had previously closed at $21.64.

IREN has been the topic of a number of other research reports. Morgan Stanley cut IREN to a “buy” rating in a research note on Wednesday, September 2nd. Compass Point reissued a “buy” rating and set a $55.00 price target on shares of IREN in a research note on Monday. Citigroup restated a “market outperform” rating on shares of IREN in a report on Friday, August 28th. HC Wainwright dropped their price objective on IREN from $74.00 to $56.00 and set a “buy” rating for the company in a report on Friday. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of IREN in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, IREN presently has a consensus rating of “Moderate Buy” and an average target price of $64.57.

IREN News Roundup

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN’s fiscal Q1 report showed AI-cloud revenue of about $200 million, up 182% quarter over quarter, and adjusted EBITDA margins of 29%. Bullish commentary points to rising GPU lease prices, capacity expansion and the company’s substantial contracted backlog as potential growth drivers. IREN Could Be 70% Undervalued
• Positive Sentiment: JonesTrading upgraded IREN to Buy with a $40 target, while JPMorgan maintained Overweight despite lowering its target from $65 to $55. Both targets remain well above the share price cited in the reports.
• Neutral Sentiment: A Seeking Alpha contributor upgraded their view, arguing IREN’s AI pivot makes the shares more attractive. This is an individual analyst’s opinion, rather than a company announcement. IREN’s AI Pivot Ends My Sell Rating
• Negative Sentiment: IREN’s goal of more than $4 billion in annual recurring revenue has shifted into early 2027. Reports cite a Microsoft deployment delay, rising costs and an estimated $6 billion funding gap as risks to the pace and economics of its AI-cloud buildout, despite a reported $20.3 billion backlog. IREN’s $4B Revenue Goal Delayed
• Negative Sentiment: Several firms cut their targets, including Cantor Fitzgerald, which lowered its target from $99 to $47 and reduced estimates after contracted ARR shifted into early 2027. Wider concerns about lending to AI data-center developers are also adding pressure. Cantor Cuts IREN Price Target

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Situational Awareness LP boosted its holdings in IREN by 34.5% in the first quarter. Situational Awareness LP now owns 11,698,835 shares of the company’s stock worth $401,036,000 after acquiring an additional 2,998,214 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of IREN during the first quarter worth about $20,878,000. Triglav Investments D.O.O. acquired a new position in shares of IREN during the first quarter valued at about $871,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of IREN during the second quarter valued at about $2,989,000. Finally, Secure Asset Management LLC acquired a new position in shares of IREN during the third quarter valued at about $2,820,000. Institutional investors own 41.08% of the company’s stock.

IREN Stock Down 1.1%

The stock has a market capitalization of $8.44 billion, a PE ratio of -5.25 and a beta of 4.33. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.77. The company’s 50-day moving average is $35.87 and its 200 day moving average is $43.60.

IREN (NASDAQ:IREN) last released its earnings results on Thursday, November 5th. The company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.06. IREN had a negative net margin of 194.36% and a negative return on equity of 16.36%. The company had revenue of $228.00 million for the quarter, compared to the consensus estimate of $228.26 million. As a group, analysts anticipate that IREN Limited will post -0.49 EPS for the current year.

IREN Company Profile

IREN Limited, formerly known as Iris Energy, develops and operates data centers for bitcoin mining and artificial intelligence cloud services. Its AI business provides access to high-performance computing infrastructure, including GPU-based services, for customers with demanding computing needs.

Founded in Australia in 2018 by brothers Daniel and Will Roberts, the company has expanded its data-center operations into North America, including locations in British Columbia, Canada, and Texas.