IREN (NASDAQ:IREN) Stock Price Up 2.9% – Still a Buy?

IREN Limited (NASDAQ:IREN) shares traded up 2.9% during mid-day trading on Thursday . The company traded as high as $43.61 and last traded at $43.29. 26,146,646 shares were traded during mid-day trading, a decline of 40% from the average session volume of 43,306,195 shares. The stock had previously closed at $42.08.

IREN News Summary

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Analysts reiterated bullish views — Compass Point reaffirmed a Buy and set a $105 target, highlighting IREN’s expanding secured power (~4.5 GW) and strategy pivot toward data centers. Read More.
• Positive Sentiment: Institutional investor activity — Cantor Fitzgerald disclosed a material increase in its IREN stake (filed Feb. 17), signaling confidence from a large fund and providing a potential demand/support catalyst for the stock. Read More.
• Positive Sentiment: B. Riley maintained a Buy rating, reinforcing sell-side support for the company’s strategy shift. Read More.
• Neutral Sentiment: Macro/market context — IREN is frequently mentioned in Canada data-center coverage as an active operator among peers; that positions it for large-market opportunities but also more competitors and execution complexity. Read More.
• Neutral Sentiment: Odd short-interest reports show “significant increase” but list 0 shares and NaN changes — appears to be a reporting/data artifact, so no clear short-pressure signal at this time.
• Negative Sentiment: Recent earnings miss and weak top line — IREN reported a larger-than-expected loss for the Feb. quarter and revenue down ~23% year-over-year, pressuring sentiment and highlighting near-term profitability issues (high upfront capex).
• Negative Sentiment: Execution and valuation risk highlighted by analysts — Seeking Alpha pieces flag heavy upfront capex, execution risk on the neocloud pivot (despite a reported large Microsoft contract reference), and uneven near-term revenue/profitability, which can keep downward pressure on the stock until growth and margins prove out. Read More. Read More.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. HC Wainwright upgraded shares of IREN from a “sell” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Tuesday, January 13th. UBS Group reaffirmed a “buy” rating on shares of IREN in a research note on Friday, November 7th. Cantor Fitzgerald decreased their price target on IREN to $82.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. JPMorgan Chase & Co. boosted their price objective on IREN from $28.00 to $39.00 and gave the company an “underweight” rating in a report on Monday, November 24th. Finally, Citigroup assumed coverage on IREN in a research report on Wednesday, November 19th. They set an “outperform” rating for the company. Thirteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, IREN currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.69.

IREN Price Performance

The company has a debt-to-equity ratio of 1.51, a current ratio of 4.96 and a quick ratio of 4.96. The firm has a fifty day moving average of $46.03 and a two-hundred day moving average of $44.18. The stock has a market capitalization of $13.27 billion, a P/E ratio of 30.02 and a beta of 4.27.

IREN (NASDAQ:IREN) last posted its earnings results on Thursday, February 5th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.37). IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The business had revenue of $184.69 million for the quarter, compared to analysts’ expectations of $229.64 million. IREN’s revenue for the quarter was down 23.1% on a year-over-year basis. On average, analysts predict that IREN Limited will post 0.43 EPS for the current year.

Institutional Trading of IREN

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sunbelt Securities Inc. raised its position in shares of IREN by 13,040.8% in the 4th quarter. Sunbelt Securities Inc. now owns 32,852 shares of the company’s stock worth $1,241,000 after acquiring an additional 32,602 shares in the last quarter. Axxcess Wealth Management LLC bought a new position in IREN in the fourth quarter worth about $622,000. Corient Private Wealth LLC purchased a new stake in shares of IREN during the fourth quarter valued at about $5,485,000. Alpine Woods Capital Investors LLC bought a new stake in shares of IREN in the 4th quarter valued at about $595,000. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of IREN by 52.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 17,926 shares of the company’s stock valued at $681,000 after buying an additional 6,138 shares in the last quarter. 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.