IREN (NASDAQ:IREN) Trading Up 5.3% After Analyst Upgrade

IREN Limited (NASDAQ:IREN)’s stock price was up 5.3% during trading on Tuesday after HC Wainwright upgraded the stock from a sell rating to a buy rating. HC Wainwright now has a $80.00 price target on the stock. IREN traded as high as $53.00 and last traded at $52.99. Approximately 40,473,039 shares traded hands during mid-day trading, an increase of 5% from the average daily volume of 38,508,887 shares. The stock had previously closed at $50.33.

Other analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IREN in a report on Monday, December 29th. JMP Securities set a $80.00 price target on shares of IREN in a report on Wednesday, November 19th. Compass Point reaffirmed a “buy” rating and issued a $105.00 price target on shares of IREN in a research report on Friday, November 7th. UBS Group reissued a “buy” rating on shares of IREN in a research report on Friday, November 7th. Finally, Zacks Research upgraded IREN from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 16th. Thirteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, IREN has a consensus rating of “Moderate Buy” and an average price target of $69.36.

Key Stories Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: HC Wainwright upgraded IREN from Sell to Buy and set an $80 price target (roughly 50% upside), a clear near‑term catalyst that can support upside momentum. H.C. Wainwright Upgrade
• Positive Sentiment: Several bullish analyses argue IREN’s valuation is attractive given expected AI/cloud revenue growth (management targets multi‑billion AI cloud run‑rate and long‑term contracts), prompting buy‑side interest. IREN: Cheap Valuation Means I Am Doubling Down
• Positive Sentiment: Coverage noting IREN’s strategic pivot into AI infrastructure and developer tools is drawing market attention and could support longer‑term revenue upside as AI demand ramps. IREN’s Strategic Pivot to AI Infrastructure Captivates the Market
• Positive Sentiment: In a roundup of GPU‑as‑a‑service providers, IREN is highlighted as a credible infrastructure + platform player with hyperscaler partnerships (Microsoft, Dell), supporting expectations for strong revenue growth. The 5 Best GPU-as-a-Service Providers for 2026—And 1 Clear Winner
• Neutral Sentiment: Market narratives now position IREN as a solid but not market‑leading GPU provider — the company owns data centers and a platform but faces competitive pressures and a limited client base, implying upside is conditional on execution. GPU-as-a-Service Provider Comparison
• Negative Sentiment: A skeptical Seeking Alpha piece warns IREN is speculative rather than a stable investment, flagging execution risk, high volatility, and dependency on large AI contracts — a note that can sap risk‑asset demand. Here’s Why IREN Is An Incredibly Speculative Gamble, Not An Investment
• Negative Sentiment: Prior quarterly results showed an EPS miss despite strong revenue growth, highlighting execution/earnings risk that can pressure sentiment if future beats aren’t consistent (investors remain sensitive to quarterly surprises).

Institutional Investors Weigh In On IREN

A number of institutional investors have recently added to or reduced their stakes in the company. Hood River Capital Management LLC acquired a new position in IREN in the 2nd quarter valued at approximately $74,228,000. Situational Awareness LP increased its position in shares of IREN by 90.1% during the second quarter. Situational Awareness LP now owns 6,400,384 shares of the company’s stock valued at $93,254,000 after purchasing an additional 3,034,254 shares during the period. Voloridge Investment Management LLC raised its stake in shares of IREN by 1,444.5% in the third quarter. Voloridge Investment Management LLC now owns 1,652,577 shares of the company’s stock valued at $77,555,000 after purchasing an additional 1,545,579 shares in the last quarter. Marshall Wace LLP lifted its position in IREN by 247.7% in the third quarter. Marshall Wace LLP now owns 2,032,397 shares of the company’s stock worth $95,380,000 after purchasing an additional 1,447,842 shares during the period. Finally, Merewether Investment Management LP acquired a new stake in IREN during the second quarter worth $21,025,000. 41.08% of the stock is owned by institutional investors and hedge funds.

IREN Price Performance

The stock has a market cap of $14.99 billion, a P/E ratio of 27.26 and a beta of 4.25. The company has a current ratio of 5.52, a quick ratio of 5.52 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $45.68 and its 200-day simple moving average is $38.26.

IREN (NASDAQ:IREN) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.48). The business had revenue of $240.30 million during the quarter, compared to analyst estimates of $244.60 million. IREN had a negative return on equity of 3.60% and a net margin of 86.96%.IREN’s revenue was up 28.3% compared to the same quarter last year. As a group, sell-side analysts forecast that IREN Limited will post 0.43 EPS for the current year.

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.