IREN Limited (NASDAQ:IREN – Get Free Report)’s share price shot up 5.9% during mid-day trading on Thursday . The stock traded as high as $60.18 and last traded at $58.40. 57,424,945 shares traded hands during mid-day trading, an increase of 40% from the average session volume of 40,991,883 shares. The stock had previously closed at $55.17.
IREN News Roundup
Here are the key news stories impacting IREN this week:
- Positive Sentiment: IREN closed a $3.0 billion convertible senior notes offering, giving it substantial capital to accelerate AI cloud and data-center expansion, fund capped-call transactions, and support general corporate needs. IREN Closes $3.0 Billion Convertible Notes Offering
- Positive Sentiment: Recent commentary highlights IREN’s growing AI positioning, including NVIDIA partnerships, secured power capacity, and a large revenue backlog, which supports the view that the company is becoming a key AI infrastructure beneficiary. Zacks Investment Ideas feature highlights: IREN and NVIDIA
- Positive Sentiment: Analysts and market writers are also pointing to IREN as a beneficiary of capital rotation into AI data-center names, alongside peers such as Applied Digital and CoreWeave, which can keep investor sentiment constructive. 3 AI Data Center Stocks Worth Watching for Capital Rotation
- Neutral Sentiment: Coverage around IREN’s Mirantis acquisition underscores its push into cloud infrastructure and Kubernetes-based services, but the deal is still about long-term platform buildout rather than an immediate earnings catalyst. Here’s What IREN Ltd.’s (IREN) Mirantis Acquisition Means For Investors
- Neutral Sentiment: Mentions in “bitcoin stocks” and hedge-fund portfolio coverage may add visibility, but these articles are not major new fundamentals by themselves. Grok AI Stock Portfolio Includes This Under-The-Radar AI Stock
- Negative Sentiment: The company’s latest earnings remain a concern, with revenue and EPS missing analyst estimates, reminding investors that execution risk is still present even as the AI story improves.
Analysts Set New Price Targets
Several brokerages recently issued reports on IREN. Cantor Fitzgerald decreased their price target on shares of IREN to $61.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. JPMorgan Chase & Co. increased their price target on shares of IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a research note on Monday, May 11th. The Goldman Sachs Group reissued a “neutral” rating and issued a $44.00 price target on shares of IREN in a research report on Friday, May 8th. HC Wainwright boosted their price target on IREN to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $70.00 price target on shares of IREN in a research report on Tuesday, February 10th. Thirteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, IREN presently has an average rating of “Moderate Buy” and a consensus price target of $71.77.
IREN Stock Down 9.3%
The company’s 50-day moving average is $44.32 and its 200 day moving average is $46.77. The company has a market capitalization of $17.59 billion, a PE ratio of 110.29 and a beta of 4.17. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.96 and a current ratio of 3.72.
IREN (NASDAQ:IREN – Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). IREN had a net margin of 20.90% and a negative return on equity of 13.13%. The firm had revenue of $144.80 million for the quarter, compared to analysts’ expectations of $219.69 million. As a group, analysts anticipate that IREN Limited will post -1.09 EPS for the current year.
Institutional Trading of IREN
Several institutional investors have recently bought and sold shares of IREN. Invesco Ltd. grew its position in IREN by 45.9% during the 2nd quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock valued at $43,341,000 after purchasing an additional 936,333 shares during the last quarter. StoneX Group Inc. purchased a new stake in IREN during the 2nd quarter valued at about $158,000. NewEdge Advisors LLC grew its position in IREN by 245.0% during the 2nd quarter. NewEdge Advisors LLC now owns 43,281 shares of the company’s stock valued at $631,000 after purchasing an additional 30,736 shares during the last quarter. Sei Investments Co. purchased a new stake in IREN during the 2nd quarter valued at about $2,333,000. Finally, Peapack Gladstone Financial Corp grew its position in IREN by 30.0% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 18,200 shares of the company’s stock valued at $265,000 after purchasing an additional 4,200 shares during the last quarter. 41.08% of the stock is owned by hedge funds and other institutional investors.
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.
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