IREN (NASDAQ:IREN) Stock Price Up 5.3% – Still a Buy?

Shares of IREN Limited (NASDAQ:IREN) rose 5.3% during mid-day trading on Monday . The stock traded as high as $43.52 and last traded at $42.04. Approximately 32,933,614 shares changed hands during mid-day trading, an increase of 25% from the average daily volume of 26,350,375 shares. The stock had previously closed at $39.92.

IREN News Summary

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Large AI partnership upside — Coverage and commentary highlight IREN’s Microsoft AI deal and management’s push into recurring AI revenue, which supports higher long?term revenue expectations and investor enthusiasm. Article Title
• Positive Sentiment: Wall?street visibility improves — The Goldman Sachs initiation of research coverage can increase liquidity and analyst attention, often positive for mid?cap/small?cap stocks. Article Title
• Positive Sentiment: Pre?market momentum — Barron’s cited IREN among premarket leaders, reflecting short?term buying interest and momentum traders moving in. Article Title
• Neutral Sentiment: Analyst and market writeups synthesize valuation — Recent pieces (Yahoo/Sohu) revisit IREN’s valuation after the Microsoft deal and capital raises; they provide context but differ on net impact, so investors should review assumptions on AI revenue and dilution. Article Title
• Negative Sentiment: Capital raises and dilution concerns — Multiple reports warn that recent financing activity increases share count and could pressure per?share metrics, a key risk for valuation. Article Title
• Negative Sentiment: Crypto revenue vulnerability — Lower Bitcoin prices reduce mining income; while management emphasizes AI recurring revenue (~$3.4B projection cited in analysis), near?term crypto swings still pose earnings volatility. Read More.
• Negative Sentiment: Sector rumor risk — Oracle/AI rumor-driven selloffs have pulled IREN and peers around; high beta (~4.23) means the stock reacts strongly to sector headlines. Read More.

Analyst Ratings Changes

A number of research analysts recently issued reports on IREN shares. Sanford C. Bernstein reiterated an “outperform” rating and issued a $75.00 target price on shares of IREN in a research note on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of IREN in a report on Monday, December 15th. Arete Research initiated coverage on shares of IREN in a research note on Wednesday, September 24th. They issued a “buy” rating and a $78.00 target price on the stock. Wall Street Zen cut IREN from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Citigroup began coverage on shares of IREN in a research report on Wednesday, November 19th. They issued an “outperform” rating on the stock. Twelve equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.64.

IREN Price Performance

The stock has a market capitalization of $11.92 billion, a P/E ratio of 21.67 and a beta of 4.23. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.52 and a quick ratio of 5.52. The company’s 50-day simple moving average is $52.41 and its 200-day simple moving average is $34.24.

Institutional Investors Weigh In On IREN

Several hedge funds have recently bought and sold shares of the stock. Hood River Capital Management LLC acquired a new stake in IREN during the 2nd quarter worth approximately $74,228,000. Situational Awareness LP bought a new position in IREN during the 1st quarter worth $20,500,000. Voloridge Investment Management LLC lifted its holdings in shares of IREN by 1,444.5% during the third quarter. Voloridge Investment Management LLC now owns 1,652,577 shares of the company’s stock worth $77,555,000 after buying an additional 1,545,579 shares in the last quarter. Marshall Wace LLP boosted its position in shares of IREN by 247.7% in the third quarter. Marshall Wace LLP now owns 2,032,397 shares of the company’s stock valued at $95,380,000 after acquiring an additional 1,447,842 shares during the period. Finally, Merewether Investment Management LP acquired a new position in shares of IREN in the second quarter valued at about $21,025,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

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.