IREN (NASDAQ:IREN) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

IREN (NASDAQ:IREN) had its price target reduced by JPMorgan Chase & Co. from $65.00 to $55.00 in a research report released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

IREN has been the topic of a number of other reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $79.00 target price on shares of IREN in a research note on Friday, August 28th. Citigroup restated a “market outperform” rating on shares of IREN in a research report on Friday, August 28th. Morgan Stanley cut shares of IREN to a “buy” rating in a report on Wednesday, September 2nd. Compass Point reiterated a “buy” rating and issued a $55.00 price objective on shares of IREN in a research report on Monday. Finally, B. Riley Financial reduced their target price on shares of IREN from $91.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.57.

IREN Price Performance

Shares of NASDAQ IREN opened at $20.84 on Monday. The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of -5.11 and a beta of 4.33. The business has a 50 day simple moving average of $34.92 and a 200-day simple moving average of $43.10. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.77. IREN has a twelve month low of $17.16 and a twelve month high of $70.71.

IREN (NASDAQ:IREN) last issued its earnings results on Thursday, November 5th. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.06. The company had revenue of $228.00 million for the quarter, compared to analysts’ expectations of $228.26 million. IREN had a negative net margin of 194.36% and a negative return on equity of 16.36%. As a group, equities research analysts expect that IREN will post 0.64 earnings per share for the current year.

Hedge Funds Weigh In On IREN

A number of hedge funds have recently modified their holdings of the stock. Situational Awareness LP increased its stake in IREN by 34.5% in the 1st quarter. Situational Awareness LP now owns 11,698,835 shares of the company’s stock valued at $401,036,000 after buying an additional 2,998,214 shares during the period. Bank of America Corp DE boosted its position in IREN by 58.4% during the first quarter. Bank of America Corp DE now owns 2,138,619 shares of the company’s stock worth $73,312,000 after purchasing an additional 788,547 shares during the period. Swiss National Bank acquired a new position in IREN in the 1st quarter valued at $33,032,000. Banco Santander S.A. grew its position in shares of IREN by 1.7% in the third quarter. Banco Santander S.A. now owns 903,037 shares of the company’s stock valued at $36,916,000 after purchasing an additional 14,791 shares during the last quarter. Finally, Amundi increased its position in IREN by 3,865.8% in the 1st quarter. Amundi now owns 845,113 shares of the company’s stock worth $28,970,000 after buying an additional 823,803 shares during the period. 41.08% of the stock is currently owned by institutional investors and hedge funds.

IREN News Summary

Here’s some of the latest news about IREN:

• Positive Sentiment: Recent coverage points to rapid growth in IREN’s AI-cloud business, including reported revenue growth of 182% quarter over quarter to $200 million and progress on the first phase of its Microsoft data-center project. JPMorgan has also expressed a bullish view, while another article argues the share-price decline may not reflect strengthening fundamentals. IREN Stock Falls Even as JPMorgan Goes Bullish 1 Unstoppable AI Stock to Buy Hand Over Fist Before the Next Leg Higher
• Neutral Sentiment: Analyst views are mixed: JPMorgan’s Buy stance contrasts with reports of reduced price expectations and other firms’ rating cuts. That disagreement may contribute to volatility as investors weigh growth prospects against execution risks.
• Negative Sentiment: IREN’s $4 billion annualized-revenue-run-rate target has reportedly slipped to early 2027, prompting a downgrade and renewed concern about the timing of growth. CCB International also cut its rating from “outperform” to “neutral.” IREN Stocks Fall as Rating Cut Follows Slip in $4 Billion ARR Target CCB International rating information

IREN Company Profile

IREN Limited, formerly known as Iris Energy, develops and operates data centers for bitcoin mining and artificial intelligence cloud services. Its AI business provides access to high-performance computing infrastructure, including GPU-based services, for customers with demanding computing needs. Founded in Australia in 2018 by brothers Daniel and Will Roberts, the company has expanded its data-center operations into North America, including locations in British Columbia, Canada, and Texas. IREN has emphasized developing facilities with access to renewable energy.