HC Wainwright Issues Pessimistic Forecast for IREN (NASDAQ:IREN) Stock Price

IREN (NASDAQ:IREN) had its target price lowered by investment analysts at HC Wainwright from $74.00 to $56.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright‘s price objective would suggest a potential upside of 161.74% from the stock’s current price.

IREN has been the topic of a number of other research reports. Morgan Stanley cut shares of IREN to a “buy” rating in a report on Wednesday, September 2nd. B. Riley Financial lowered their price objective on IREN from $91.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Compass Point reiterated a “buy” rating and set a $85.00 target price on shares of IREN in a research note on Friday, August 28th. The Goldman Sachs Group reiterated a “neutral” rating and set a $30.00 target price on shares of IREN in a research note on Friday. Finally, JPMorgan Chase & Co. raised IREN from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $46.00 to $65.00 in a report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, IREN has a consensus rating of “Moderate Buy” and an average price target of $69.54.

IREN Stock Up 18.7%

Shares of IREN traded up $3.37 on Friday, reaching $21.39. The stock had a trading volume of 91,049,415 shares, compared to its average volume of 44,473,410. The company has a debt-to-equity ratio of 1.80, a quick ratio of 3.55 and a current ratio of 3.55. IREN has a 12-month low of $17.16 and a 12-month high of $70.71. The firm has a market capitalization of $8.43 billion, a price-to-earnings ratio of -9.12 and a beta of 4.33. The company has a 50-day simple moving average of $36.25 and a 200-day simple moving average of $43.77.

IREN (NASDAQ:IREN) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.06. IREN had a negative net margin of 99.38% and a negative return on equity of 15.46%. The business had revenue of $228.00 million for the quarter, compared to analyst estimates of $228.26 million. Sell-side analysts predict that IREN will post -0.49 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IREN. Situational Awareness LP boosted its position in shares of IREN by 34.5% in the first quarter. Situational Awareness LP now owns 11,698,835 shares of the company’s stock worth $401,036,000 after purchasing an additional 2,998,214 shares during the period. Swiss National Bank purchased a new stake in shares of IREN in the first quarter worth $33,032,000. Amundi raised its position in shares of IREN by 3,865.8% during the 1st quarter. Amundi now owns 845,113 shares of the company’s stock valued at $28,970,000 after purchasing an additional 823,803 shares during the period. Bank of America Corp DE raised its position in shares of IREN by 58.4% during the 1st quarter. Bank of America Corp DE now owns 2,138,619 shares of the company’s stock valued at $73,312,000 after purchasing an additional 788,547 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of IREN during the 1st quarter valued at $20,878,000. Institutional investors own 41.08% of the company’s stock.

Key IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Fiscal Q1 2027 AI Cloud revenue nearly tripled sequentially to about $200 million. Total revenue rose 66% to $228 million, and the adjusted EBITDA margin reached 29%; the quarterly per-share loss was narrower than analysts expected. IREN Q1 results highlights
• Positive Sentiment: IREN said its revenue backlog exceeded $20 billion, with roughly two-thirds tied to investment-grade customers. A new five-year AI Cloud contract also includes a customer prepayment covering 90% of GPU costs, which may help support expansion. IREN: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Cantor Fitzgerald cut its price target from $99 to $47 but maintained an Overweight rating, reflecting a more cautious valuation alongside continued optimism about potential upside. Cantor Fitzgerald rating and price target
• Negative Sentiment: IREN pushed its roughly $4 billion annualized-revenue target into early 2027 after customer and deployment delays, including issues affecting Microsoft-related infrastructure. That timing slippage has raised concerns about execution. IREN AI Cloud revenue and ARR target
• Negative Sentiment: Financing remains a key risk: reports cite net debt of about $4.43 billion, cash of $3.52 billion, and roughly $6 billion of capex still to finance. The quarter also included a $263 million net loss, while Bitcoin-mining revenue fell sharply. IREN customer prepayments and funding risks

IREN Company Profile

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.