IREN (NASDAQ:IREN) Stock Jumps 2% – Still a Buy?

IREN Limited (NASDAQ:IREN) traded up 2% during trading on Tuesday. The stock traded as high as $42.18 and last traded at $41.28. Approximately 35,277,400 shares were traded during trading, a decline of 16% from the average daily volume of 42,238,316 shares. The stock had previously closed at $40.48.

Key IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN’s AI-cloud opportunity remains the main bullish argument. Rising AI-cloud revenue, large Microsoft deployments and strong demand for computing capacity could support significant long-term growth. A valuation analysis cited a potential price target near $84 through 2031, although that outlook depends on successful execution and funding. IREN Stock Drops 7.3% in Three Months: Is it Worth Investing Now?
• Positive Sentiment: The planned Sweetwater hub could provide a major growth platform, with up to 2 gigawatts of capacity and liquid-cooled infrastructure designed for large-scale AI workloads. IREN Limited’s Sweetwater Hub
• Neutral Sentiment: Fiscal 2026 revenue reached approximately $707 million, and management continues highlighting customer development and AI demand. However, strong revenue growth has been accompanied by heavy losses, leaving investors focused on the path to profitability and capital requirements. IREN stock reports USD 707 million fiscal 2026 revenue
• Negative Sentiment: Shares sold off after SemiAnalysis alleged outage and reliability problems at IREN’s legacy British Columbia data centers. The reports raised concerns that infrastructure issues could undermine customer confidence and execution of the company’s transition into AI infrastructure. IREN Stock Plunges as SemiAnalysis Flags Data Center Problems
• Negative Sentiment: Higher borrowing costs are pressuring financing-heavy data-center developers such as IREN. Investors are concerned that expansion will require substantial additional capital while the company is still reporting losses and carries meaningful leverage. IREN Falls as Financing-Heavy Data Center Names Sell Off

Wall Street Analysts Forecast Growth

IREN has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $90.00 price target on shares of IREN in a research note on Friday, August 28th. The Goldman Sachs Group restated a “neutral” rating on shares of IREN in a research report on Monday, July 20th. BTIG Research reiterated a “buy” rating and set a $80.00 price target on shares of IREN in a report on Monday, September 14th. Morgan Stanley cut IREN to a “buy” rating in a research note on Wednesday, September 2nd. Finally, Compass Point restated a “buy” rating and set a $85.00 price objective on shares of IREN in a research report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.13.

IREN Stock Performance

The company has a current ratio of 3.55, a quick ratio of 3.55 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $14.09 billion, a price-to-earnings ratio of -15.28 and a beta of 4.26. The company’s 50-day simple moving average is $41.97 and its 200-day simple moving average is $45.76.

Hedge Funds Weigh In On IREN

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in IREN by 177.5% during the 2nd quarter. GAMMA Investing LLC now owns 691 shares of the company’s stock valued at $32,000 after purchasing an additional 442 shares during the period. Purpose Unlimited Inc. acquired a new stake in IREN during the fourth quarter worth approximately $34,000. Hollencrest Capital Management grew its stake in IREN by 50.0% during the first quarter. Hollencrest Capital Management now owns 1,050 shares of the company’s stock worth $36,000 after purchasing an additional 350 shares during the period. Harbor Investment Advisory LLC increased its holdings in IREN by 521.0% in the second quarter. Harbor Investment Advisory LLC now owns 1,037 shares of the company’s stock worth $47,000 after purchasing an additional 870 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its holdings in shares of IREN by 19.8% during the 1st quarter. CENTRAL TRUST Co now owns 1,485 shares of the company’s stock worth $51,000 after buying an additional 245 shares in the last quarter. 41.08% of the stock is currently owned by institutional investors.

IREN Company Profile

IREN Limited, formerly known as Iris Energy Limited, is a data center company focused on bitcoin mining and high-performance computing. The company develops and operates data centers designed to use renewable energy and provides the infrastructure needed for energy-intensive digital workloads.

IREN’s operations include bitcoin mining and artificial intelligence cloud services. Its AI business provides access to high-performance computing infrastructure, including graphics processing units (GPUs), for applications such as machine learning and other computational workloads.