IREN (NASDAQ:IREN) Research Coverage Started at Northland Securities

Northland Securities began coverage on shares of IREN (NASDAQ:IREN) in a research report sent to investors on Friday, Marketbeat reports. The firm issued an outperform rating and a $99.00 price target on the stock.

Other analysts have also recently issued reports about the company. Morgan Stanley cut IREN to a “buy” rating in a report on Wednesday, September 2nd. Freedom Capital raised shares of IREN from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. HC Wainwright restated a “buy” rating and issued a $90.00 price target on shares of IREN in a research report on Friday, August 28th. The Goldman Sachs Group restated a “neutral” rating on shares of IREN in a research report on Monday, July 20th. Finally, Compass Point reaffirmed a “buy” rating and set a $85.00 price target on shares of IREN in a research note on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, IREN has an average rating of “Moderate Buy” and a consensus target price of $84.00.

IREN Price Performance

Shares of IREN stock opened at $46.68 on Friday. The firm has a market cap of $18.39 billion, a PE ratio of -19.95 and a beta of 4.28. The stock has a 50 day moving average of $40.45 and a 200 day moving average of $45.57. The company has a current ratio of 3.55, a quick ratio of 3.55 and a debt-to-equity ratio of 1.80. IREN has a 12 month low of $28.93 and a 12 month high of $76.87.

Institutional Investors Weigh In On IREN

Several institutional investors have recently modified their holdings of IREN. Situational Awareness LP increased its position in shares of IREN by 34.5% during the 1st quarter. Situational Awareness LP now owns 11,698,835 shares of the company’s stock valued at $401,036,000 after purchasing an additional 2,998,214 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in IREN during the 4th quarter valued at $158,677,000. Clear Street Group Inc. bought a new stake in IREN in the fourth quarter worth $137,075,000. Bank of America Corp DE boosted its stake in IREN by 58.4% during the first quarter. Bank of America Corp DE now owns 2,138,619 shares of the company’s stock worth $73,312,000 after buying an additional 788,547 shares during the period. Finally, Capital Research Global Investors bought a new position in IREN during the fourth quarter valued at $38,730,000. 41.08% of the stock is owned by institutional investors.

IREN News Roundup

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Northland initiated coverage with an Outperform rating and a $99 price target, implying more than 100% upside from recent levels. Analyst Nehal Chokshi reportedly views the AI infrastructure opportunity as part of a potential $4 trillion market, providing a major catalyst for the shares. IREN Shares Rise as Northland Targets $99
• Positive Sentiment: IREN was among a small group of AI infrastructure stocks attracting buyers Friday. The selective buying suggests investors are favoring companies viewed as having strong individual growth catalysts rather than broadly buying the entire sector. Wolfspeed Climbs 6%, IREN Rises 4% as Buyers Pick Single Names Over the AI Infrastructure Sector
• Positive Sentiment: Recent evidence of pricing power among AI “neocloud” operators is supporting the investment case. Nebius raised rental prices for several Nvidia GPUs by approximately 20%, suggesting that scarce AI computing capacity may allow providers such as IREN to maintain attractive pricing and margins. Nebius Stock and IREN Gain. AI Neoclouds Are Flexing Their Pricing Power
• Positive Sentiment: JPMorgan recently turned more bullish on IREN and assigned a $65 target following the company’s approximately $5.5 billion, five-year Nvidia-related AI cloud partnership. The deal reinforces IREN’s transition from Bitcoin mining toward higher-growth AI infrastructure. IREN Stock Jumps 4% as JPMorgan Flips Bullish With $65 Target
• Neutral Sentiment: Management says demand for AI compute remains well above available supply, but commentary also highlights execution and financial complexity as IREN scales its AI platform and changes its business mix. IREN’s CEO Says Demand Is Strong, The Financials Says It’s Complicated
• Negative Sentiment: Investors remain cautious because IREN has recently experienced sharp pullbacks, elevated volatility, and skepticism that much of the AI-driven valuation re-rating may already be reflected in the stock. Higher interest rates and the company’s expansion funding needs add further risks. IREN Limited: Compelling Growth Story, But The Re-Rating Is Likely Done

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.