IREN (NASDAQ:IREN) Trading Up 8.5% – Still a Buy?

IREN Limited (NASDAQ:IREN) rose 8.5% during mid-day trading on Friday . The company traded as high as $58.58 and last traded at $56.68. Approximately 56,222,298 shares traded hands during trading, an increase of 32% from the average daily volume of 42,505,617 shares. The stock had previously closed at $52.26.

Trending Headlines about IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Technical momentum is building after a pullback—analysts note IREN is forming a bullish continuation pattern, holding key moving averages with improving momentum and Fibonacci targets that point toward further upside beyond prior highs. This narrative supports momentum-driven buying. IREN Price Forecast: Bullish Momentum Builds After Pullback
• Positive Sentiment: Strategic pivot toward Microsoft’s AI cloud is being discussed as reshaping the investment case for IREN—if partnerships or product integrations with Microsoft accelerate revenue growth or improve margins, that could materially raise investor expectations and valuation multiples. Market reactions suggest investors are pricing in potential upside from this shift. Is IREN’s Microsoft AI Cloud Pivot Reshaping The Investment Case For IREN (IREN)?
• Neutral Sentiment: Company announced its Q2 FY26 results release and conference call for Feb 5—this is a near-term catalyst that can reinforce the recent move (beat) or trigger a reset (miss). Investors should mark the date and listen for guidance, revenue mix and margin details. IREN to Release Q2 FY26 Results on February 5, 2026
• Negative Sentiment: After a strong run, the stock is pausing as investors take profits—coverage notes a short-term consolidation (“pause for breath”), which could increase volatility and lead to pullbacks if buying dries up or if upcoming results disappoint. IREN Shares Pause for Breath Following Meteoric Rise

Analyst Ratings Changes

A number of analysts recently issued reports on IREN shares. JMP Securities set a $80.00 target price on IREN in a research report on Wednesday, November 19th. JPMorgan Chase & Co. lifted their target price on shares of IREN from $28.00 to $39.00 and gave the company an “underweight” rating in a report on Monday, November 24th. Wall Street Zen raised IREN from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Citigroup assumed coverage on shares of IREN in a research report on Wednesday, November 19th. They set an “outperform” rating on the stock. Finally, HC Wainwright raised IREN from a “sell” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Tuesday, January 13th. Thirteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.36.

IREN Trading Up 8.5%

The stock has a market capitalization of $16.07 billion, a PE ratio of 29.22 and a beta of 4.25. The company has a quick ratio of 5.52, a current ratio of 5.52 and a debt-to-equity ratio of 0.34. The business’s fifty day moving average is $45.40 and its 200-day moving average is $40.15.

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

Institutional Trading of IREN

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in IREN by 7.3% in the fourth quarter. Farther Finance Advisors LLC now owns 65,964 shares of the company’s stock valued at $2,491,000 after acquiring an additional 4,498 shares in the last quarter. Legacy Bridge LLC bought a new stake in shares of IREN in the 4th quarter valued at approximately $51,000. Sippican Capital Advisors raised its holdings in shares of IREN by 59.2% during the fourth quarter. Sippican Capital Advisors now owns 45,330 shares of the company’s stock worth $1,712,000 after purchasing an additional 16,850 shares during the period. BOCHK Asset Management Ltd raised its stake in IREN by 185.7% during the fourth quarter. BOCHK Asset Management Ltd now owns 2,000 shares of the company’s stock worth $76,000 after acquiring an additional 1,300 shares during the period. Finally, Encompass Wealth Advisors LLC acquired a new stake in shares of IREN during the 4th quarter worth approximately $300,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

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.