IREN (NASDAQ:IREN) Trading Down 1.9% – Here’s Why

IREN Limited (NASDAQ:IREN) fell 1.9% during trading on Thursday . The company traded as low as $50.75 and last traded at $51.89. Approximately 36,495,160 shares were traded during trading, a decline of 5% from the average daily volume of 38,520,758 shares. The stock had previously closed at $52.88.

IREN News Summary

Here are the key news stories impacting IREN this week:

• Positive Sentiment: HC Wainwright upgraded IREN to a Buy with an $80 price target—this supports upside expectations and has driven recent rallies. HC Wainwright Upgrades IREN (NASDAQ:IREN) to Buy
• Positive Sentiment: HC Wainwright raised several FY2027 quarterly/annual EPS estimates (including an improved FY2027 view), signaling better medium‑term profitability expectations versus prior forecasts. IREN Stock Page
• Positive Sentiment: Company narrative shifting from pure Bitcoin mining toward AI/data‑center infrastructure — a longer‑term strategic move that aligns IREN with high‑growth AI demand and could justify higher multiples if executed. Iren’s Strategic Shift: From Bitcoin Mining to AI Infrastructure
• Neutral Sentiment: IREN topped X’s most‑searched cashtags (surpassing Tesla and Bitcoin), driving heavy retail attention and volume — boosts awareness but can increase short‑term volatility rather than signal fundamental change. Bitcoin miner IREN tops X’s most searched cashtags surpassing Tesla
• Neutral Sentiment: Industry coverage (MarketBeat ranking of GPU‑as‑a‑Service providers) labels IREN as a capable AI/infra player but not the top pick — that positions the stock as a beneficiary of AI demand but with competitive risks that cap upside. The 5 Best GPU-as-a-Service Providers for 2026—And 1 Clear Winner
• Negative Sentiment: HC Wainwright also cut near‑term FY2026 and multiple 2026 quarterly EPS forecasts, reflecting weaker short‑term profitability and raising uncertainty about this year’s earnings trajectory. IREN Stock Page
• Negative Sentiment: Recent track record includes a prior quarterly EPS miss and mixed margins, which keeps investors sensitive to any guidance or execution hiccups; high beta and elevated trading volume amplify share swings. IREN Stock Page

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. The Goldman Sachs Group began coverage on shares of IREN in a research report on Thursday, December 18th. They issued a “neutral” rating and a $39.00 price objective on the stock. Citizens Jmp initiated coverage on shares of IREN in a report on Wednesday, November 19th. They issued a “market outperform” rating and a $80.00 price target on the stock. Compass Point reissued a “buy” rating and set a $105.00 price objective on shares of IREN in a report on Friday, November 7th. Zacks Research upgraded shares of IREN from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, Macquarie lifted their target price on IREN to $86.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.36.

IREN Trading Down 1.9%

The firm has a fifty day simple moving average of $45.68 and a two-hundred day simple moving average of $38.26. The stock has a market cap of $14.71 billion, a PE ratio of 26.75 and a beta of 4.25. The company has a current ratio of 5.52, a quick ratio of 5.52 and a debt-to-equity ratio of 0.34.

IREN (NASDAQ:IREN) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.34) EPS 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 analysts’ expectations of $244.60 million. IREN had a negative return on equity of 3.60% and a net margin of 86.96%.IREN’s revenue for the quarter was up 28.3% compared to the same quarter last year. As a group, equities analysts expect that IREN Limited will post 0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IREN

Hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in shares of IREN in the 3rd quarter worth about $25,000. Aventura Private Wealth LLC purchased a new position in shares of IREN during the 4th quarter valued at about $28,000. Allianz SE bought a new stake in IREN in the 3rd quarter worth approximately $57,000. Lodestone Wealth Management LLC purchased a new stake in IREN in the fourth quarter worth approximately $57,000. Finally, Sherman Asset Management Inc. bought a new position in IREN during the third quarter valued at approximately $59,000. Institutional investors own 41.08% of the company’s stock.

About IREN

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.