IREN (NASDAQ:IREN) Trading Up 11.2% – Still a Buy?

IREN Limited (NASDAQ:IREN)’s share price was up 11.2% during mid-day trading on Friday . The stock traded as high as $58.75 and last traded at $57.7180. Approximately 53,571,061 shares traded hands during trading, an increase of 34% from the average daily volume of 40,043,859 shares. The stock had previously closed at $51.89.

More IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: HC Wainwright upgraded IREN to a “Buy” with an $80 price target; the upgrade and associated investor notes helped lift sentiment and trading interest. HC Wainwright Upgrades IREN to Buy
• Positive Sentiment: Zacks highlights IREN’s vertically integrated AI cloud (noting an 85% EBITDA Microsoft deal, lower power costs and improving margins) — this underpins a path to higher profitability and supports a re-rating if execution continues. Can IREN’s Vertically Integrated AI Cloud Platform Lift Profitability?
• Positive Sentiment: Multiple outlet pieces (Zacks, MarketBeat) put IREN among AI/GPU infrastructure names gaining momentum, reinforcing the narrative that IREN is a beneficiary of rising GPU-as-a-service demand. 3 Beaten Down AI Stocks Gaining Momentum (IREN, NBIS, CRWV)
• Positive Sentiment: Social and retail interest spiked — IREN topped X’s most-searched cashtags, signaling higher retail/institutional attention that can amplify moves on positive news. Bitcoin miner IREN tops X’s most searched cashtags
• Neutral Sentiment: MarketBeat ranked IREN among the top GPU-as-a-service providers for 2026 but noted it’s “not the best” — owns data centers and has hyperscaler deals, yet client concentration and competition are concerns (mixed implication). The 5 Best GPU-as-a-Service Providers for 2026—And 1 Clear Winner
• Positive Sentiment: Coverage comparing IREN to peers (e.g., HUT 8) emphasizes IREN’s renewable-powered, vertically integrated platform and AI focus as differentiation during BTC volatility — a strategic narrative supportive of longer-term upside. IREN or HUT: Which Bitcoin Infrastructure Stock Should You Bet On?
• Negative Sentiment: HC Wainwright’s models show mixed near-term revisions — several Q2–Q4 2026 estimates and FY2026 were trimmed (increasing near-term EPS risk), even as FY2027 estimates were improved. That divergence highlights execution and timing risk for profitability. MarketBeat IREN coverage (HC Wainwright estimates)
• Positive Sentiment: Local/foreign press pieces note a strategic shift from pure bitcoin mining toward AI infrastructure — if sustained, this re-positioning could command higher multiples tied to AI demand vs. cyclical BTC exposure. Iren’s Strategic Shift: From Bitcoin Mining to AI Infrastructure

Analyst Upgrades and Downgrades

IREN has been the topic of several recent research reports. Roth Capital set a $94.00 price objective on shares of IREN and gave the company a “buy” rating in a research report on Monday, November 3rd. The Goldman Sachs Group started coverage on shares of IREN in a research note on Thursday, December 18th. They set a “neutral” rating and a $39.00 price target on the stock. UBS Group reaffirmed a “buy” rating on shares of IREN in a research note on Friday, November 7th. Arete Research started coverage on shares of IREN in a report on Wednesday, September 24th. They issued a “buy” rating and a $78.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on IREN from $28.00 to $39.00 and gave the company an “underweight” rating in a report on Monday, November 24th. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $69.36.

IREN Trading Up 11.2%

The company has a quick ratio of 5.52, a current ratio of 5.52 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average price of $45.37 and a 200-day moving average price of $38.35. The company has a market capitalization of $16.36 billion, a price-to-earnings ratio of 29.75 and a beta of 4.25.

IREN (NASDAQ:IREN) last posted 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 analyst estimates of $244.60 million. IREN had a negative return on equity of 3.60% and a net margin of 86.96%.IREN’s revenue was up 28.3% on a year-over-year basis. Research analysts predict that IREN Limited will post 0.43 EPS for the current fiscal year.

Institutional Trading of IREN

Several hedge funds and other institutional investors have recently bought and sold shares of IREN. Formidable Asset Management LLC increased its holdings in shares of IREN by 24.4% during the 4th quarter. Formidable Asset Management LLC now owns 31,536 shares of the company’s stock worth $1,191,000 after purchasing an additional 6,186 shares during the period. Lodestone Wealth Management LLC bought a new stake in shares of IREN in the fourth quarter valued at about $57,000. Spire Wealth Management grew its position in IREN by 25.8% during the fourth quarter. Spire Wealth Management now owns 8,655 shares of the company’s stock worth $327,000 after buying an additional 1,775 shares in the last quarter. Avaii Wealth Management LLC increased its stake in IREN by 208.9% during the fourth quarter. Avaii Wealth Management LLC now owns 145,767 shares of the company’s stock valued at $5,506,000 after acquiring an additional 98,581 shares during the period. Finally, Benin Management CORP acquired a new position in IREN in the 4th quarter valued at approximately $211,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

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.