IREN (NASDAQ:IREN) Stock Gets Price Target Trim from B. Riley Financial

IREN (NASDAQ:IREN) had its price target cut by B. Riley Financial from $91.00 to $64.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

IREN has been the subject of several other reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $99.00 target price on shares of IREN in a research report on Friday, August 28th. BTIG Research restated a “buy” rating and set a $80.00 price objective on shares of IREN in a research report on Monday, September 14th. Rothschild & Co Redburn started coverage on IREN in a report on Monday, September 21st. They issued a “neutral” rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. upgraded IREN from an “underweight” rating to an “overweight” rating and raised their target price for the company from $46.00 to $65.00 in a research report on Monday, September 14th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $100.00 target price on shares of IREN in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, IREN presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.86.

IREN Price Performance

Shares of NASDAQ IREN opened at $23.95 on Friday. IREN has a 12 month low of $23.06 and a 12 month high of $76.87. The firm has a market capitalization of $9.44 billion, a PE ratio of -10.23 and a beta of 4.33. The firm has a fifty day simple moving average of $37.79 and a two-hundred day simple moving average of $44.41. The company has a current ratio of 3.55, a quick ratio of 3.55 and a debt-to-equity ratio of 1.80.

Institutional Investors Weigh In On IREN

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP increased its stake in shares of IREN by 4.4% during the 2nd quarter. Allworth Financial LP now owns 7,162 shares of the company’s stock valued at $328,000 after acquiring an additional 305 shares during the last quarter. Versant Capital Management Inc increased its position in IREN by 14.5% in the second quarter. Versant Capital Management Inc now owns 2,509 shares of the company’s stock worth $115,000 after purchasing an additional 317 shares during the period. Hollencrest Capital Management grew its position in IREN by 50.0% in the first quarter. Hollencrest Capital Management now owns 1,050 shares of the company’s stock valued at $36,000 after purchasing an additional 350 shares in the last quarter. WealthPlan Investment Management LLC increased its position in shares of IREN by 3.7% in the third quarter. WealthPlan Investment Management LLC now owns 11,190 shares of the company’s stock worth $457,000 after purchasing an additional 404 shares during the period. Finally, Ascent Wealth Partners LLC boosted its stake in shares of IREN by 2.6% in the 3rd quarter. Ascent Wealth Partners LLC now owns 15,866 shares of the company’s stock valued at $649,000 after purchasing an additional 404 shares during the last quarter. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN secured a $363 million equipment-financing facility backed by fully paid, revenue-generating Nvidia GPU assets and multiyear AI cloud contracts. Because the financing is asset-backed, it may reduce the need for immediate equity issuance and support expansion of IREN’s neocloud capacity. IREN Secures $363 Million Against GPUs And AI Contracts
• Positive Sentiment: Some analysts remain bullish on IREN’s long-term AI data-center buildout, citing contracted revenue, its Microsoft partnership and the potential for substantial EBITDA growth as capacity comes online. IREN Limited: A Strong Buy As AI Capacity Builds Toward Higher Future Earnings
• Neutral Sentiment: IREN is scheduled to report fiscal first-quarter 2027 results on November 5. Analysts expect a potential earnings beat, making the report and management’s outlook for AI capacity, customer demand and funding especially important near term. IREN Limited Expected to Beat Earnings Estimates
• Neutral Sentiment: Analysts modestly reduced IREN’s estimated fair value to $76.92 from $79.03, reflecting continued optimism about AI infrastructure but greater concern about sector-wide volatility, funding conditions and execution risk. IREN Stock Sees Modest Fair Value Cut
• Negative Sentiment: B. Riley cut its price target to $64 from $91, although it retained a Buy rating. The reduction highlights heightened uncertainty around IREN’s capital requirements and the risks of executing its aggressive AI expansion plan. IREN Stock Sinks as B. Riley Cuts Price Target
• Negative Sentiment: Shares have been pressured by concerns that Microsoft and other major cloud customers may delay or moderate AI-related capital spending. Microsoft’s weaker-than-expected spending signal weighed broadly on neocloud and data-center stocks, including IREN. Why NeBIUS, CoreWeave and IREN Stocks Are Falling
• Negative Sentiment: Investors remain concerned about IREN’s leverage, potential dilution and estimated need for significant additional funding. Tightening debt markets could make it more expensive for unprofitable neocloud companies to finance rapid growth. Elon Musk Says Neoclouds Face a Guppy Level Death

About IREN

IREN Limited, formerly known as Iris Energy Limited, is a data center infrastructure company focused on bitcoin mining and high-performance computing. The company develops and operates data centers designed to support energy-intensive computing applications, including bitcoin mining and artificial intelligence (AI) cloud services.

IREN’s operations are supported by company-owned electrical infrastructure, data centers and computing hardware. Its bitcoin mining business uses specialized application-specific integrated circuit (ASIC) machines, while its AI cloud offering is designed to provide access to advanced computing resources for AI development and other high-performance computing workloads.

Founded in 2018 and headquartered in Sydney, Australia, IREN has developed data center operations in North America, including facilities in British Columbia, Canada, and Texas.