IREN (NASDAQ:IREN) Stock Price Up 5.3% Following Analyst Upgrade

IREN Limited (NASDAQ:IREN) traded up 5.3% on Tuesday after HC Wainwright upgraded the stock from a sell rating to a buy rating. HC Wainwright now has a $80.00 price target on the stock. IREN traded as high as $53.00 and last traded at $52.99. 40,473,039 shares were traded during mid-day trading, an increase of 5% from the average session volume of 38,508,887 shares. The stock had previously closed at $50.33.

A number of other analysts have also recently weighed in on IREN. Arete Research began 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. Macquarie boosted their price objective on IREN to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Compass Point restated a “buy” rating and issued a $105.00 target price on shares of IREN in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IREN in a research note on Monday, December 29th. Finally, B. Riley reissued a “buy” rating on shares of IREN in a research note on Wednesday, October 22nd. Thirteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.36.

IREN News Summary

Here are the key news stories impacting IREN this week:

• Positive Sentiment: HC Wainwright upgraded IREN from Sell to Buy and set an $80 price target (~51% upside from current levels), lending authoritative analyst support to the rally. H.C. Wainwright Double Upgrades IREN Ltd. (IREN) to Buy
• Positive Sentiment: A bullish Seeking Alpha piece argues IREN’s valuation is cheap, management’s AI revenue targets (including multiyear Microsoft contracts) support large upside, and the company has strong profitability/net cash — a narrative that attracts growth-focused investors. IREN: Cheap Valuation Means I Am Doubling Down
• Positive Sentiment: Coverage highlighting IREN’s strategic pivot to AI infrastructure reinforces the thematic growth story that can re-rate the stock if execution and contract wins continue. IREN’s Strategic Pivot to AI Infrastructure Captivates the Market
• Positive Sentiment: Retrospective coverage explaining why IREN surged in 2025 (valuable assets and execution) reminds investors of the company’s growth story and can support momentum buying. Why IREN Limited Skyrocketed 285% in 2025
• Neutral Sentiment: Reports say IREN is seeking funding to scale for its Microsoft AI partnership — this supports growth plans but raises near-term financing/dilution questions depending on the structure (debt vs. equity). IREN Seeks Funding to Power Major Microsoft AI Partnership
• Neutral Sentiment: A short interest update appears to show no meaningful reported short position (data shows 0 shares), so short-squeeze dynamics are unlikely to be a material driver based on the available report.
• Negative Sentiment: A contrarian Seeking Alpha article warns IREN is an “incredibly speculative gamble,” highlighting execution risk, valuation uncertainty and the possibility that AI narratives are overstated — a caution that can prompt profit-taking among risk-averse holders. Here’s Why IREN Is An Incredibly Speculative Gamble, Not An Investment

Hedge Funds Weigh In On IREN

Several hedge funds have recently modified their holdings of the company. Hood River Capital Management LLC acquired a new stake in shares of IREN in the second quarter valued at $74,228,000. Situational Awareness LP raised its position in IREN by 90.1% in the second quarter. Situational Awareness LP now owns 6,400,384 shares of the company’s stock worth $93,254,000 after acquiring an additional 3,034,254 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in IREN by 1,444.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,652,577 shares of the company’s stock valued at $77,555,000 after acquiring an additional 1,545,579 shares during the last quarter. Marshall Wace LLP boosted its position in shares of IREN by 247.7% during the 3rd quarter. Marshall Wace LLP now owns 2,032,397 shares of the company’s stock valued at $95,380,000 after purchasing an additional 1,447,842 shares in the last quarter. Finally, Merewether Investment Management LP bought a new position in shares of IREN during the 2nd quarter valued at about $21,025,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

IREN Price Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.52 and a current ratio of 5.52. The company’s 50 day moving average price is $46.42 and its 200-day moving average price is $37.88. The company has a market cap of $15.02 billion, a price-to-earnings ratio of 27.31 and a beta of 4.25.

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

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.