B. Riley Financial Cuts IREN (NASDAQ:IREN) Price Target to $91.00

IREN (NASDAQ:IREN) had its price objective cut by analysts at B. Riley Financial from $96.00 to $91.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial’s price target points to a potential upside of 119.37% from the stock’s current price.

A number of other brokerages have also recently commented on IREN. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $99.00 target price on shares of IREN in a report on Friday, August 28th. Needham & Company LLC reiterated a “hold” rating on shares of IREN in a research note on Tuesday, July 21st. Weiss Ratings downgraded shares of IREN from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 31st. Canaccord Genuity Group restated a “buy” rating and issued a $79.00 price objective on shares of IREN in a research note on Friday, August 28th. Finally, Northland Securities began coverage on shares of IREN in a report on Friday, September 18th. They issued an “outperform” rating and a $99.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.13.

IREN Stock Performance

NASDAQ:IREN traded down $0.24 during mid-day trading on Tuesday, reaching $41.48. 13,642,090 shares of the stock were exchanged, compared to its average volume of 42,325,637. The stock has a market capitalization of $16.35 billion, a P/E ratio of -17.78 and a beta of 4.28. IREN has a 1 year low of $28.93 and a 1 year high of $76.87. The company has a 50 day simple moving average of $41.46 and a 200-day simple moving average of $45.84. The company has a quick ratio of 3.55, a current ratio of 3.55 and a debt-to-equity ratio of 1.80.

Hedge Funds Weigh In On IREN

Institutional investors and hedge funds have recently made changes to their positions in the stock. Andra AP fonden purchased a new position in shares of IREN in the 2nd quarter valued at about $218,000. SkyView Investment Advisors LLC purchased a new stake in IREN during the second quarter worth about $823,000. Sequoia Financial Advisors LLC acquired a new position in IREN during the second quarter worth about $263,000. MCF Advisors LLC lifted its position in shares of IREN by 5,159.1% during the 2nd quarter. MCF Advisors LLC now owns 1,157 shares of the company’s stock valued at $53,000 after acquiring an additional 1,135 shares during the period. Finally, National Pension Service purchased a new stake in shares of IREN during the 2nd quarter worth approximately $1,213,000. 41.08% of the stock is owned by institutional investors and hedge funds.

Key IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: A Wall Street analyst assigned IREN a potential $100 price target, suggesting the stock could more than double if the company successfully executes its AI-computing expansion. However, the outlook depends heavily on an upcoming quarter and the company’s ability to convert capacity into profitable business. IREN’s Yearlong Downward Trend Continues: A Prominent Wall Street Firm Says It Will Double and Then Some
• Positive Sentiment: IREN’s transition from Bitcoin mining toward AI cloud services remains a potential catalyst. Its power capacity, computing infrastructure and leasing strategy could give it an advantage if demand for AI data-center capacity continues to grow relative to rival Riot Platforms. IREN vs. Riot Platforms: Which Bitcoin-to-AI Stock Looks Stronger Now?
• Positive Sentiment: One valuation analysis cited a roughly $78 average Wall Street target and an approximately $90 midpoint target, implying significant potential returns if IREN meets its growth expectations. IREN Stock Is Up 17% in 2026. Here’s Where the Stock Could Go
• Neutral Sentiment: IREN continues to appear on cryptocurrency and mining-stock watch lists, keeping attention focused on Bitcoin prices and the broader digital-asset market. Best Mining Stocks To Watch Today – September 27th Bitcoin Stocks To Follow Today – September 27th
• Negative Sentiment: Analyst Kevin Dede acknowledged IREN’s ability to deliver computing capacity but questioned the quality of its customers and criticized executive compensation, raising concerns about whether growth will translate into durable shareholder value. IREN Just Got a Reality Check From Wall Street
• Negative Sentiment: Jones Trading’s cautious “Hold” view and a $40 target weighed on the shares, particularly after IREN’s decline from its peak and its continuing underperformance versus some Bitcoin-mining peers. IREN Stock Falls as Analyst Says Hold, Cites a Few Polarizing Factors

About IREN

IREN Limited, formerly known as Iris Energy Limited, is a data center infrastructure company focused on high-performance computing. The company develops and operates data centers powered by renewable energy and uses this infrastructure primarily for Bitcoin mining and, increasingly, artificial intelligence and other GPU-intensive cloud-computing applications.

IREN designs, builds and operates its own data centers, providing access to electrical power, computing hardware and related infrastructure.