IREN (NASDAQ:IREN) Shares Up 5.2% – Time to Buy?

IREN Limited (NASDAQ:IREN)’s stock price was up 5.2% during mid-day trading on Tuesday . The company traded as high as $61.49 and last traded at $59.78. Approximately 40,463,666 shares changed hands during mid-day trading, a decline of 2% from the average daily volume of 41,143,262 shares. The stock had previously closed at $56.83.

IREN News Roundup

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN’s $1.6 billion Dell order for Blackwell systems supports its AI infrastructure expansion and strengthens its long-term revenue opportunity. IREN (IREN) Is Up 28.7% After US$1.6 Billion Nvidia Blackwell AI Infrastructure Deal – What’s Changed
• Positive Sentiment: Market commentary continues to frame IREN as a beneficiary of the shift from Bitcoin mining to AI data center infrastructure, which could support a higher valuation multiple over time.
• Neutral Sentiment: Analyst price targets remain generally constructive, with several recent buy ratings and targets above the current trading range.
• Negative Sentiment: Investors are worried about the large upfront capital commitment and the delayed timing of revenue from the Blackwell deployment, which increases execution risk. IREN slides after recent AI-driven rally as traders digest $1.6B Blackwell buildout spend and financing overhang
• Negative Sentiment: Recent convertible debt issuance may create hedging-related selling pressure and add dilution sensitivity for shareholders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on IREN shares. Canaccord Genuity Group reissued a “buy” rating and issued a $70.00 target price on shares of IREN in a report on Tuesday, February 10th. Freedom Capital raised IREN to a “hold” rating in a report on Wednesday, April 1st. Weiss Ratings lowered IREN from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 22nd. Cantor Fitzgerald boosted their target price on IREN from $77.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday. Finally, HC Wainwright boosted their target price on IREN to $85.00 and gave the company a “buy” rating in a report on Friday, May 8th. Thirteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.69.

IREN Price Performance

The stock has a fifty day moving average of $47.27 and a two-hundred day moving average of $46.16. The stock has a market cap of $22.89 billion, a price-to-earnings ratio of 133.44 and a beta of 4.17. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44.

IREN (NASDAQ:IREN) last posted its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The firm had revenue of $144.80 million during the quarter, compared to analyst estimates of $219.69 million. IREN had a net margin of 20.90% and a negative return on equity of 13.13%. On average, equities research analysts anticipate that IREN Limited will post -1.09 earnings per share for the current year.

Institutional Trading of IREN

Several large investors have recently bought and sold shares of the company. CENTRAL TRUST Co grew its holdings in IREN by 19.8% in the first quarter. CENTRAL TRUST Co now owns 1,485 shares of the company’s stock valued at $51,000 after purchasing an additional 245 shares during the last quarter. Vermillion Wealth Management Inc. grew its holdings in IREN by 19.1% in the first quarter. Vermillion Wealth Management Inc. now owns 2,049 shares of the company’s stock valued at $70,000 after purchasing an additional 328 shares during the last quarter. Centaurus Financial Inc. grew its holdings in IREN by 1.1% in the third quarter. Centaurus Financial Inc. now owns 31,482 shares of the company’s stock valued at $1,477,000 after purchasing an additional 332 shares during the last quarter. Larson Financial Group LLC grew its holdings in IREN by 26.7% in the third quarter. Larson Financial Group LLC now owns 1,590 shares of the company’s stock valued at $75,000 after purchasing an additional 335 shares during the last quarter. Finally, Hollencrest Capital Management grew its holdings in IREN by 50.0% in the first quarter. Hollencrest Capital Management now owns 1,050 shares of the company’s stock valued at $36,000 after purchasing an additional 350 shares during the last quarter. Institutional investors and hedge funds own 41.08% of the company’s stock.

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.