IREN (NASDAQ:IREN) Upgraded at HC Wainwright

HC Wainwright upgraded shares of IREN (NASDAQ:IREN) from a sell rating to a buy rating in a research note released on Tuesday morning, Marketbeat Ratings reports. They currently have $80.00 price target on the stock. HC Wainwright also issued estimates for IREN’s Q2 2026 earnings at ($0.13) EPS, Q3 2026 earnings at ($0.18) EPS, Q4 2026 earnings at ($0.12) EPS, FY2026 earnings at ($0.80) EPS, Q1 2027 earnings at ($0.04) EPS, Q2 2027 earnings at $0.01 EPS, Q3 2027 earnings at ($0.03) EPS, Q4 2027 earnings at ($0.03) EPS and FY2027 earnings at ($0.10) EPS.

Several other research firms have also recently commented on IREN. Weiss Ratings restated a “hold (c-)” rating on shares of IREN in a research report on Monday, December 29th. The Goldman Sachs Group initiated coverage on IREN in a research note on Thursday, December 18th. They issued a “neutral” rating and a $39.00 price target for the company. JMP Securities set a $80.00 price target on IREN in a report on Wednesday, November 19th. Citigroup assumed coverage on shares of IREN in a research note on Wednesday, November 19th. They set an “outperform” rating on the stock. Finally, Wall Street Zen downgraded shares of IREN from a “hold” rating to a “sell” rating in a report on Monday, December 22nd. Thirteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, IREN currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.36.

IREN Stock Down 1.9%

IREN stock opened at $51.89 on Tuesday. The stock has a market cap of $14.71 billion, a PE ratio of 26.75 and a beta of 4.25. The firm’s 50-day simple moving average is $45.37 and its 200 day simple moving average is $38.35. IREN has a fifty-two week low of $5.13 and a fifty-two week high of $76.87. The company has a quick ratio of 5.52, a current ratio of 5.52 and a debt-to-equity ratio of 0.34.

IREN (NASDAQ:IREN) last posted 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). IREN had a negative return on equity of 3.60% and a net margin of 86.96%.The firm had revenue of $240.30 million during the quarter, compared to the consensus estimate of $244.60 million. The business’s revenue for the quarter was up 28.3% on a year-over-year basis. As a group, sell-side analysts predict that IREN will post 0.43 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IREN. Global Retirement Partners LLC bought a new position in shares of IREN during the 3rd quarter valued at about $25,000. Aventura Private Wealth LLC acquired a new stake in IREN during the fourth quarter valued at approximately $28,000. Allianz SE bought a new stake in IREN during the third quarter worth approximately $57,000. Sherman Asset Management Inc. bought a new stake in IREN during the third quarter worth approximately $59,000. Finally, Banque Cantonale Vaudoise acquired a new position in IREN in the third quarter worth approximately $67,000. 41.08% of the stock is owned by institutional investors and hedge funds.

More IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: HC Wainwright reiterated a Buy rating and raised several 2027 quarterly and full‑year EPS estimates (improving FY2027 to -$0.10 from -$0.23) and left an $80 price target — a bullish signal that supports longer‑term upside expectations for IREN. HC Wainwright Upgrades IREN
• Positive Sentiment: IREN is getting strong retail and social attention — it topped X (Twitter)’s most‑searched cashtags recently, which can boost short‑term volume and momentum. Bitcoin miner IREN tops X’s most searched cashtags
• Positive Sentiment: Coverage and narrative are shifting toward AI infrastructure: reports describe IREN moving from bitcoin mining toward AI/data‑center services — a strategic pivot that, if executed, could lift growth and multiple expansion. Iren’s Strategic Shift
• Neutral Sentiment: Industry analysts rank IREN as a viable GPU‑as‑a‑service/data‑center player but not the top choice; the company owns data centers and has hyperscaler customers, yet competitors with stronger platforms or faster expansion are cited as better positioned. This positions IREN as part of the secular AI infra theme but suggests limited market‑share upside versus leaders. The 5 Best GPU-as-a-Service Providers for 2026
• Negative Sentiment: Offsetting the positive signals, HC Wainwright also cut several near‑term 2026 EPS estimates sharply (FY2026 to -$0.80 and multiple quarter downgrades), signaling weaker near‑term profitability and raising uncertainty about the recovery trajectory — a likely driver of the intraday pullback.
• Negative Sentiment: High trading volume and the stock’s elevated beta make IREN prone to volatility around headlines and upgrades; some investors appear to be taking profits after recent run‑ups tied to analyst activity and social attention, contributing to downward pressure.

IREN Company Profile

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.