IREN (NASDAQ:IREN) Trading 9.3% Higher – Should You Buy?

Shares of IREN Limited (NASDAQ:IREN) shot up 9.3% on Monday . The stock traded as high as $51.63 and last traded at $50.33. 52,043,082 shares were traded during trading, an increase of 37% from the average session volume of 38,067,191 shares. The stock had previously closed at $46.03.

IREN News Summary

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Report that IREN is seeking funding to power a major Microsoft AI partnership — this validates a high-profile strategic tie-up that could drive revenue and justify capital raises to scale infrastructure. IREN Seeks Funding to Power Major Microsoft AI Partnership
• Positive Sentiment: The Motley Fool explains why IREN “skyrocketed 285% in 2025,” saying investors discovered a valuable asset the company had been building — narrative reinforcement that supports higher valuation expectations. Why IREN Limited Skyrocketed 285% in 2025
• Positive Sentiment: Coverage in lists of “hidden AI stocks” and “AI stocks that could make you a fortune” (247 Wall Street and The Motley Fool) increases retail and institutional visibility, potentially attracting new buyers focused on AI and data-center plays. 3 Hidden AI Stocks That Can Become This Year’s Superstars
• Positive Sentiment: Additional Fool piece highlights IREN’s positioning to benefit from rising data-center investment — a thematic tailwind that supports growth estimates and higher multiples for infrastructure-exposed companies. 2 AI Stocks That Could Help Make You a Fortune
• Neutral Sentiment: Short-interest data reported as effectively zero — the entry shows no measurable short position, which removes short-driven downward pressure but also provides limited signal on sentiment. Short Interest Report

Analyst Ratings Changes

Several brokerages have recently commented on IREN. Arete Research initiated coverage on shares of IREN in a report on Wednesday, September 24th. They issued a “buy” rating and a $78.00 price objective on the stock. Zacks Research upgraded IREN from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 16th. Macquarie lifted their price objective on IREN to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. B. Riley reiterated a “buy” rating on shares of IREN in a report on Wednesday, October 22nd. Finally, BTIG Research raised their target price on IREN from $32.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Twelve investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.64.

IREN Stock Up 9.3%

The firm has a market cap of $14.27 billion, a PE ratio of 25.94 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. The firm has a 50 day moving average price of $46.42 and a 200-day moving average price of $37.88.

IREN (NASDAQ:IREN) last issued its earnings results on Thursday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.48). IREN had a net margin of 86.96% and a negative return on equity of 3.60%. The firm had revenue of $240.30 million during the quarter, compared to analyst estimates of $244.60 million. The firm’s revenue for the quarter was up 28.3% compared to the same quarter last year. Research analysts forecast that IREN Limited will post 0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On IREN

A number of institutional investors and hedge funds have recently modified their holdings of IREN. Belpointe Asset Management LLC increased its holdings in IREN by 21.8% in the first quarter. Belpointe Asset Management LLC now owns 24,974 shares of the company’s stock valued at $152,000 after buying an additional 4,465 shares during the last quarter. Balefire LLC acquired a new position in shares of IREN during the 2nd quarter worth about $1,214,000. Baader Bank Aktiengesellschaft purchased a new position in shares of IREN in the 2nd quarter valued at about $4,808,000. Wealth Enhancement Advisory Services LLC raised its position in shares of IREN by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 61,248 shares of the company’s stock worth $892,000 after acquiring an additional 3,307 shares in the last quarter. Finally, AFG Fiduciary Services Limited Partnership purchased a new stake in IREN during the second quarter worth approximately $254,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

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.