IREN (NASDAQ:IREN) Shares Down 8.5% – Here’s Why

IREN Limited (NASDAQ:IREN)’s share price traded down 8.5% during mid-day trading on Thursday . The stock traded as low as $38.76 and last traded at $40.13. 44,938,112 shares changed hands during mid-day trading, an increase of 8% from the average session volume of 41,642,949 shares. The stock had previously closed at $43.84.

More IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Large Nvidia GPU buildout lifts long?term revenue potential — IREN agreed to buy 50,000 NVIDIA B300 GPUs, expanding its fleet toward 150,000 GPUs to support AI cloud capacity. This materially increases compute scale and underpins the company’s AI revenue targets. DataCenterDynamics: IREN purchases 50,000 NVIDIA B300 GPUs
• Positive Sentiment: Ambitious AI revenue targets and large corporate deals could drive meaningful growth — management is targeting roughly $3.7B AI cloud ARR by late?2026 and public commentary references a sizeable Microsoft?related contract that supports the pivot from mining to AI infrastructure. These milestones are the core bullish case. Seeking Alpha: IREN buying an AI infrastructure giant
• Neutral Sentiment: Strong prior fundraising and capital access — IREN has raised multiple billions (~$9.3B cited historically) to finance GPU expansion, which both supports growth and changes financing flexibility; investors will watch execution and ROI. Yahoo Finance: The Bull Case For IREN
• Negative Sentiment: Large at?the?market (ATM) / equity program raises dilution worries — IREN expanded its ATM capacity (about $6B reported), and concurrently opened an equity offering to fund the GPU buildout; investors are concerned about near?term share dilution and timing of issuance. Yahoo Finance: IREN expands GPU fleet, opens $6B equity offering
• Negative Sentiment: Short?seller spotlight and guidance questions amplified selling pressure — Jim Chanos publicly criticized the $6B equity filing and flagged the company’s lack of clarity around a cited $500M revenue guidance figure, increasing investor caution. MSN: Jim Chanos sounds alarm
• Negative Sentiment: Recent fundamental miss and macro/geopolitical noise — IREN’s prior quarterly results missed EPS and revenue estimates, and geopolitical headlines (Iran?related) have been flagged as an additional near?term risk to sentiment and partnerships. Seeking Alpha: Geopolitical noise discussion

Wall Street Analysts Forecast Growth

Several research firms recently commented on IREN. Citizens Jmp set a $80.00 price objective on shares of IREN in a research note on Wednesday, November 19th. Weiss Ratings lowered shares of IREN from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. Wall Street Zen cut IREN from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 7th. Cantor Fitzgerald cut their price target on IREN to $82.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Finally, Zacks Research raised IREN from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 16th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.69.

IREN Trading Down 8.5%

The stock’s 50 day moving average is $46.58 and its 200-day moving average is $45.79. The company has a market cap of $12.19 billion, a P/E ratio of 27.59 and a beta of 4.31. The company has a current ratio of 4.96, a quick ratio of 4.96 and a debt-to-equity ratio of 1.51.

IREN (NASDAQ:IREN) last released its quarterly earnings data on Thursday, February 5th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.37). The firm had revenue of $184.69 million for the quarter, compared to the consensus estimate of $229.64 million. IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The business’s quarterly revenue was down 23.1% on a year-over-year basis. Research analysts anticipate that IREN Limited will post 0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IREN

Hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its position in IREN by 134,143.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 251,035 shares of the company’s stock valued at $9,482,000 after acquiring an additional 250,848 shares in the last quarter. Kera Capital Partners Inc. bought a new stake in shares of IREN in the 4th quarter worth $167,000. Walser Wealth Management Company A Ltd Liability Co purchased a new position in shares of IREN in the fourth quarter worth $246,000. Sunbelt Securities Inc. raised its stake in shares of IREN by 13,040.8% in the fourth quarter. Sunbelt Securities Inc. now owns 32,852 shares of the company’s stock worth $1,241,000 after purchasing an additional 32,602 shares during the last quarter. Finally, Axxcess Wealth Management LLC bought a new position in shares of IREN during the fourth quarter valued at $622,000. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

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.