IREN’s (IREN) “Buy” Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of IREN (NASDAQ:IREN) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $80.00 price objective on the stock.

IREN has been the subject of several other reports. Sanford C. Bernstein reiterated an “outperform” rating and issued a $100.00 price objective on shares of IREN in a report on Thursday, August 13th. Freedom Capital upgraded IREN from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. B. Riley Financial increased their price target on IREN from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of IREN in a research report on Friday. Finally, Compass Point reissued a “buy” rating on shares of IREN in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.57.

IREN Price Performance

IREN stock opened at $35.45 on Friday. IREN has a 52 week low of $25.31 and a 52 week high of $76.87. The stock has a market cap of $12.67 billion, a price-to-earnings ratio of -15.15 and a beta of 4.29. The company’s 50-day moving average price is $41.19 and its two-hundred day moving average price is $45.52. The company has a current ratio of 3.55, a quick ratio of 3.55 and a debt-to-equity ratio of 1.80.

Institutional Trading of IREN

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CENTRAL TRUST Co lifted its position in shares of IREN by 19.8% in the first quarter. CENTRAL TRUST Co now owns 1,485 shares of the company’s stock worth $51,000 after purchasing an additional 245 shares in the last quarter. Versant Capital Management Inc grew its position in IREN by 14.5% during the second quarter. Versant Capital Management Inc now owns 2,509 shares of the company’s stock valued at $115,000 after purchasing an additional 317 shares in the last quarter. Vermillion Wealth Management Inc. grew its position in IREN by 19.1% during 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 in the last quarter. Larson Financial Group LLC increased its stake in IREN by 26.7% in the 3rd quarter. Larson Financial Group LLC now owns 1,590 shares of the company’s stock valued at $75,000 after buying an additional 335 shares during the period. Finally, Hollencrest Capital Management increased its stake in IREN by 50.0% in the 1st quarter. Hollencrest Capital Management now owns 1,050 shares of the company’s stock valued at $36,000 after buying an additional 350 shares during the period. 41.08% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: AI demand and contracted revenue are accelerating. IREN reported approximately $1 billion in current operating annualized recurring revenue and more than $4 billion of contracted ARR tied to its 2026 capacity. AI Cloud revenue reached about $128.8 million for the year, while management said much of its FY26 capacity is sold out and expects ARR to exceed $4 billion by December. IREN Just Locked in $4 Billion in ARR
• Positive Sentiment: New financing supports the GPU buildout. Funds managed by Blue Owl arranged $2.4 billion of secured financing—split between a $1.2 billion term loan and $1.2 billion of notes—to help IREN purchase NVIDIA Blackwell Ultra systems for its Mackenzie, British Columbia, campus. IREN separately disclosed roughly $2.8 billion of GPU financings covering about 90% of associated GPU capital expenditures, reducing near-term equity funding needs. Blue Owl Managed Funds Lead Financing for IREN
• Positive Sentiment: Several analysts remained bullish after the report: Canaccord reaffirmed its Buy rating with a $79 target, while BTIG and Cantor Fitzgerald maintained Buy and Overweight ratings with $80 and $99 targets, respectively.
• Neutral Sentiment: The earnings picture was mixed. Quarterly revenue was approximately $137.2 million and the reported loss was $0.41 per share, better than some consensus estimates, although other estimates cited an adjusted loss of $0.74 and revenue below a $142.3 million forecast. IREN Earnings Report
• Negative Sentiment: A $684 million quarterly loss and major impairment overshadowed the AI progress. The charge, largely related to decommissioning Bitcoin-mining equipment, highlighted the financial pain of IREN’s pivot and pushed investors to reassess its near-term profitability.
• Negative Sentiment: Management indicated that sustained profitability may not arrive until 2029–2030, while planned FY27 capital spending of $25–$30 billion raises execution, funding, dilution and leverage concerns. The stock also broke below key moving averages, adding technical pressure.

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.