IREN Limited (NASDAQ:IREN – Get Free Report)’s stock price shot up 2.5% during trading on Thursday . The stock traded as high as $49.19 and last traded at $44.76. Approximately 71,056,190 shares changed hands during trading, an increase of 66% from the average session volume of 42,842,664 shares. The stock had previously closed at $43.67.
Key IREN News
Here are the key news stories impacting IREN this week:
- Positive Sentiment: Microsoft accepted IREN’s first 50-megawatt AI cloud deployment. Horizon 1 at the Childress, Texas campus has been delivered and accepted, marking the first phase of four planned direct-to-chip liquid-cooled deployments for Microsoft. This provides evidence that IREN is moving from development toward revenue-generating AI infrastructure. IREN Delivers Horizon 1 to Microsoft and Achieves NVIDIA Exemplar Cloud Status
- Positive Sentiment: NVIDIA granted IREN Exemplar Cloud status for its GB300 NVL72 platform. The recognition supports IREN’s credibility as a provider of advanced AI computing capacity and complements its Microsoft relationship. IREN stock jumps after Microsoft Horizon 1 delivery and NVIDIA status
- Positive Sentiment: Analysts see substantial upside from IREN’s transition from bitcoin mining to AI cloud infrastructure. Coverage cited contracted annual recurring revenue potentially rising from approximately $4 billion in 2026 to $10 billion by 2028, while Bernstein reiterated a Buy rating and a $100 price target. Bernstein reiterates Buy rating on IREN
- Neutral Sentiment: IREN will report fiscal 2026 results on August 27. The upcoming report could provide important details on Horizon 1 revenue, additional Microsoft deployments, capital spending, funding needs and bitcoin-mining performance. IREN to Release FY26 Results on August 27, 2026
- Negative Sentiment: Near-term pressure may reflect profit-taking and valuation concerns. IREN has a high-beta profile and trades at a demanding earnings multiple after a sharp rally. Investors may also remain cautious about the substantial capital required to build out AI capacity and the risks of relying on successful execution of large customer deployments.
Wall Street Analyst Weigh In
Several brokerages have issued reports on IREN. Compass Point restated a “buy” rating on shares of IREN in a research report on Tuesday, July 21st. JPMorgan Chase & Co. lifted their price target on shares of IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a report on Monday, May 11th. Freedom Capital raised shares of IREN from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Needham & Company LLC restated a “hold” rating on shares of IREN in a report on Tuesday, July 21st. Finally, B. Riley Financial increased their price objective on IREN from $88.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.00.
IREN Stock Performance
The stock has a 50 day moving average of $44.54 and a 200 day moving average of $46.30. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $15.75 billion, a price-to-earnings ratio of 91.79 and a beta of 4.29.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Situational Awareness LP raised its stake in IREN by 34.5% during the first quarter. Situational Awareness LP now owns 11,698,835 shares of the company’s stock worth $401,036,000 after buying an additional 2,998,214 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in IREN in the first quarter valued at $20,878,000. Triglav Investments D.O.O. bought a new stake in IREN during the first quarter valued at $871,000. Oppenheimer & Co. Inc. boosted its position in IREN by 257.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 26,958 shares of the company’s stock valued at $1,018,000 after acquiring an additional 19,423 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in IREN by 282.2% during the 4th quarter. Sanctuary Advisors LLC now owns 46,224 shares of the company’s stock worth $1,746,000 after acquiring an additional 34,129 shares during the period. 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.
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