Shares of IREN Limited (NASDAQ:IREN – Get Free Report) were down 7.8% on Tuesday after CCB Int’l downgraded the stock from an outperform rating to a neutral rating. The company traded as low as $19.03 and last traded at $19.73. 74,059,262 shares traded hands during trading, an increase of 65% from the average session volume of 44,876,094 shares. The stock had previously closed at $21.41.
IREN has been the subject of a number of other research reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $30.00 target price on shares of IREN in a report on Friday. B. Riley Financial lowered their price target on IREN from $91.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, October 30th. BTIG Research reissued a “buy” rating on shares of IREN in a report on Friday. Citigroup restated a “market outperform” rating on shares of IREN in a research report on Friday, August 28th. Finally, Cantor Fitzgerald reduced their price target on shares of IREN from $99.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, IREN has an average rating of “Moderate Buy” and a consensus price target of $64.57.
View Our Latest Research Report on IREN
Trending Headlines about IREN
Here are the key news stories impacting IREN this week:
- Positive Sentiment: IREN’s fiscal Q1 2027 results highlighted strong AI cloud momentum: revenue in the business was reported at about $200 million, up 182% quarter over quarter, with adjusted EBITDA margins of 29%. The company has also cited strong demand and a $20.3 billion backlog. IREN Could Be 70% Undervalued On Strong Q1 AI Cloud Revenue
- Neutral Sentiment: HC Wainwright maintained its Buy rating and $56 target, but its 2027 quarterly EPS estimates were mixed: it lowered forecasts for Q2 and Q4 while raising its Q3 estimate to a profit. HC Wainwright estimate updates
- Negative Sentiment: IREN’s $4 billion annualized revenue goal has reportedly shifted to early 2027, with a Microsoft deployment delay pushing contracted revenue into a later period. Coverage also flags rising costs, continued losses, and a potential $6 billion funding gap for the AI infrastructure buildout. IREN’s $4B Revenue Goal Delayed
- Negative Sentiment: CCB International cut its rating from Outperform to Neutral. Separately, a Seeking Alpha article issued a downgrade, citing the risk of a prolonged AI downturn—an added concern for a company redirecting investment toward AI data centers. IREN Stock Bumped Down to Neutral by CCB Int’l A Long AI Winter Is Coming
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in IREN by 177.5% in the 2nd quarter. GAMMA Investing LLC now owns 691 shares of the company’s stock worth $32,000 after buying an additional 442 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in shares of IREN by 521.0% during the 2nd quarter. Harbor Investment Advisory LLC now owns 1,037 shares of the company’s stock worth $47,000 after buying an additional 870 shares during the last quarter. Hollencrest Capital Management increased its holdings in shares of IREN by 50.0% during the 1st quarter. Hollencrest Capital Management now owns 1,050 shares of the company’s stock worth $36,000 after buying an additional 350 shares during the last quarter. MCF Advisors LLC raised its position in shares of IREN by 5,159.1% in the 2nd quarter. MCF Advisors LLC now owns 1,157 shares of the company’s stock worth $53,000 after buying an additional 1,135 shares during the period. Finally, Oslo Pensjonsforsikring AS purchased a new position in shares of IREN in the 1st quarter worth $59,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.
IREN Stock Down 7.8%
The stock has a market cap of $7.77 billion, a price-to-earnings ratio of -4.84 and a beta of 4.33. The company has a quick ratio of 3.55, a current ratio of 3.55 and a debt-to-equity ratio of 1.80. The stock has a fifty day moving average of $35.59 and a two-hundred day moving average of $43.44.
IREN (NASDAQ:IREN – Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.06. IREN had a negative return on equity of 15.46% and a negative net margin of 99.38%. The company had revenue of $228.00 million for the quarter, compared to the consensus estimate of $228.26 million. As a group, analysts predict that IREN Limited will post -0.49 EPS for the current fiscal year.
About IREN
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.
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