IREN (NASDAQ:IREN) Trading 5.1% Higher – Here’s What Happened

IREN Limited (NASDAQ:IREN)’s stock price shot up 5.1% during trading on Friday . The stock traded as high as $44.22 and last traded at $41.83. 74,613,136 shares changed hands during trading, an increase of 60% from the average session volume of 46,493,324 shares. The stock had previously closed at $39.79.

Key IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Large, low?cost financing secured — IREN announced a $3.6 billion delayed?draw term facility (tied to its AI buildout) plus strong cash and a Microsoft prepayment, reducing near?term dilution risk and funding GPU purchases needed to execute the AI strategy. IREN Earnings Were Ugly—Is a Beautiful Future Already Funded?
• Positive Sentiment: Strategic AI validation — IREN’s pivot toward AI cloud services (including the large Microsoft contract and related prepayment) supports a transition from volatile bitcoin revenue to recurring, lease?style AI income. This is the main structural reason bulls remain interested. The Great Pivot: Bitcoin Miners Are Becoming AI’s Landlords (IREN)
• Neutral Sentiment: Operational timeline and assets — management reiterated large secured power capacity (multi?GW portfolio), new campus developments (e.g., Oklahoma) and an energization timetable (Sweetwater) that, if met, enable faster GPU deployments but create execution risk. IREN Earnings Were Ugly—Is a Beautiful Future Already Funded?
• Neutral Sentiment: Company disclosure resources — the full Q2 presentation and earnings?call transcript are available for investors to audit management’s guidance and timing on GPU deployment. IREN Q2 2026 Earnings Call Transcript
• Negative Sentiment: Q2 headline miss — IREN reported revenue of ~$184.7M (down ~23% Q/Q) and a wider loss; results missed analyst revenue and EPS expectations and included large non?cash charges (derivative revaluations, impairments) that hurt the print and triggered short?term selling. IREN’s Q2 Loss Wider Than Expected, Revenues Decline Q/Q
• Negative Sentiment: Crypto headwinds and market reaction — lower bitcoin revenue and a broader selloff in crypto/A I?adjacent names amplified the decline; some analysts (and Bernstein commentary) framed the pullback as driven by concerns about AI deal execution and lingering crypto exposure. Bernstein says IREN selloff reflects missing AI deal, not earnings

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IREN shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IREN in a report on Monday, December 29th. UBS Group reaffirmed a “buy” rating on shares of IREN in a research note on Friday, November 7th. JPMorgan Chase & Co. boosted their price objective on shares of IREN from $28.00 to $39.00 and gave the stock an “underweight” rating in a research report on Monday, November 24th. Compass Point reissued a “buy” rating and issued a $105.00 price objective on shares of IREN in a research note on Friday, November 7th. Finally, BTIG Research raised their target price on shares of IREN from $32.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Thirteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.29.

IREN Trading Up 5.1%

The firm has a market cap of $11.86 billion, a price-to-earnings ratio of 31.45 and a beta of 4.27. The business has a 50 day moving average of $46.49 and a 200 day moving average of $42.59. The company has a quick ratio of 5.52, a current ratio of 5.52 and a debt-to-equity ratio of 0.34.

IREN (NASDAQ:IREN) last released its earnings results on Thursday, February 5th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.45). IREN had a net margin of 56.59% and a negative return on equity of 10.59%. The firm had revenue of $184.69 million during the quarter, compared to analysts’ expectations of $229.64 million. The business’s revenue for the quarter was down 23.1% on a year-over-year basis. On average, research analysts forecast that IREN Limited will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of IREN

A number of hedge funds have recently bought and sold shares of the company. Hood River Capital Management LLC acquired a new position in IREN in the 2nd quarter valued at $74,228,000. Situational Awareness LP grew its position in shares of IREN by 90.1% in the second quarter. Situational Awareness LP now owns 6,400,384 shares of the company’s stock valued at $93,254,000 after purchasing an additional 3,034,254 shares during the period. Voloridge Investment Management LLC grew its position in shares of IREN by 1,444.5% in the third quarter. Voloridge Investment Management LLC now owns 1,652,577 shares of the company’s stock valued at $77,555,000 after purchasing an additional 1,545,579 shares during the period. Marshall Wace LLP increased its stake in IREN by 247.7% in the third quarter. Marshall Wace LLP now owns 2,032,397 shares of the company’s stock valued at $95,380,000 after purchasing an additional 1,447,842 shares during the last quarter. Finally, Merewether Investment Management LP purchased a new position in IREN during the second quarter worth about $21,025,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

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.