IREN (NASDAQ:IREN) Trading Up 2.7% – Here’s What Happened

Shares of IREN Limited (NASDAQ:IREN) traded up 2.7% on Wednesday . The company traded as high as $43.73 and last traded at $42.08. 28,099,664 shares traded hands during trading, a decline of 36% from the average session volume of 43,841,457 shares. The stock had previously closed at $40.97.

Key Headlines Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Cantor Fitzgerald added ~3.33 million IREN shares, signaling strong institutional demand and providing upward support for the stock. Cantor Fitzgerald Loads Up 3.33 Million IREN Shares
• Positive Sentiment: B. Riley maintained a Buy rating and recently raised its price target, reinforcing analyst support for IREN’s AI growth outlook. B Riley keeps a buy rating on IREN Limited
• Positive Sentiment: IREN appointed John Gross as Chief Innovation Officer to lead thermal architecture and liquid‑cooling design — a technical hire that strengthens execution risk perception for multi‑GW AI data centers. IREN Appoints John Gross as Chief Innovation Officer
• Positive Sentiment: Analyst and commentary pieces highlight a potential major ARR uplift tied to IREN’s AI contracts and financing (GPU financing and customer prepayments are said to cover much of Microsoft‑related CapEx), supporting the long‑term revenue thesis. IREN: Major ARR Uplift Incoming
• Neutral Sentiment: Several deep‑dive pieces frame the move as “the dark before the AI dawn”: short‑term crypto revenue pain but intact long‑term AI ARR targets — useful context but contingent on execution. IREN: The Dark Before The AI Dawn
• Negative Sentiment: Coverage warns of weak underlying fundamentals despite solid reported profits and flags prior quarterly revenue and EPS misses — a reminder of near‑term growth and margin risk. IREN’s Solid Profits Have Weak Fundamentals
• Negative Sentiment: Comparisons to other crypto/AI plays note IREN faces near‑term pressure from its AI pivot and valuation debates; plus publicized insider sales raise governance/overhang concerns. IREN vs. MSTR: Which Bitcoin-Focused Stock is a Buy Right Now?

Analyst Ratings Changes

A number of equities analysts have commented on the stock. B. Riley Financial reiterated a “buy” rating on shares of IREN in a report on Friday, February 6th. Compass Point reaffirmed a “buy” rating and issued a $105.00 price objective on shares of IREN in a research report on Friday, November 7th. Cantor Fitzgerald reduced their price objective on shares of IREN to $82.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. HC Wainwright raised shares of IREN from a “sell” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Tuesday, January 13th. Finally, UBS Group restated a “buy” rating on shares of IREN in a research note on Friday, November 7th. Thirteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $71.69.

IREN Trading Up 2.7%

The stock has a market cap of $13.98 billion, a price-to-earnings ratio of 31.64 and a beta of 4.27. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.96 and a quick ratio of 4.96. The company’s fifty day moving average price is $46.08 and its 200-day moving average price is $44.03.

IREN (NASDAQ:IREN) last released its earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.37). IREN had a negative return on equity of 10.01% and a net margin of 56.59%.The company had revenue of $184.69 million for the quarter, compared to analysts’ expectations of $229.64 million. IREN’s revenue was down 23.1% on a year-over-year basis. On average, research analysts expect that IREN Limited will post 0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On IREN

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IREN. Hood River Capital Management LLC purchased a new stake in IREN during the 2nd quarter valued at about $74,228,000. Marex Group plc raised its stake in shares of IREN by 14,216.7% in the fourth quarter. Marex Group plc now owns 4,471,263 shares of the company’s stock worth $168,880,000 after purchasing an additional 4,440,032 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of IREN during the fourth quarter worth about $158,677,000. Clear Street Group Inc. purchased a new stake in IREN in the fourth quarter valued at approximately $137,075,000. Finally, Situational Awareness LP increased its holdings in IREN by 90.1% in the 2nd quarter. Situational Awareness LP now owns 6,400,384 shares of the company’s stock worth $93,254,000 after buying an additional 3,034,254 shares during the period. Hedge funds and other institutional investors own 41.08% of the company’s stock.

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.