IREN (NASDAQ:IREN) Trading Down 7% – Here’s What Happened

IREN Limited (NASDAQ:IREN) shares were down 7% during trading on Tuesday . The stock traded as low as $42.91 and last traded at $42.93. Approximately 34,899,697 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 46,336,063 shares. The stock had previously closed at $46.15.

More IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Big strategic win — IREN’s pivot into AI infrastructure with a contract tied to Microsoft materially repositions the company toward high-growth, higher-margin AI cloud spending, improving its long-term addressable market despite elevating execution risk. IREN Pivot To AI Infrastructure With Microsoft Contract Reshapes Risk Profile
• Positive Sentiment: Analyst support — Canaccord reaffirmed a “buy” and a $70 price target, signaling confidence in IREN’s upside tied to its AI/cloud pivot (implies significant potential upside from current levels). Canaccord Reaffirms Buy on IREN
• Positive Sentiment: Sector tailwinds — multiple industry pieces highlight rising big-tech AI capex and a bullish case for AI infrastructure providers, supporting a favorable market backdrop for IREN’s new strategic focus. CAPEX & Cash Flow: The Bull Case for AI Infrastructure Stocks
• Positive Sentiment: Stock-selection interest — industry write-ups naming AI infrastructure stocks that could outperform (including IREN in thematic coverage) can attract new investor flows into the name. 3 AI Infrastructure Stocks That Can Outperform Nvidia Over The Next 5 Years
• Neutral Sentiment: Mixed analyst tweaks — Macquarie trimmed its price target to $70 but kept an Outperform rating, a modestly cautious signal that still endorses long-term upside while acknowledging near-term uncertainty. Macquarie Lowers Iren PT to $70
• Neutral Sentiment: Analyst discussion is mixed — coverage noting surging AI-cloud momentum is tempered by concerns about competition and valuation, suggesting a cautious “hold” posture for some investors. Should You Buy, Sell or Hold IREN Stock Post Q2 Earnings?
• Negative Sentiment: Recent fundamentals weigh — IREN’s last quarter missed EPS and revenue expectations, with revenues down ~23% year-over-year, which keeps near-term investor skepticism and pressure on the stock until growth and margins stabilize.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IREN. The Goldman Sachs Group began coverage on shares of IREN in a report on Thursday, December 18th. They issued a “neutral” rating and a $39.00 price objective on the stock. HC Wainwright upgraded IREN from a “sell” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Tuesday, January 13th. Cantor Fitzgerald decreased their target price on shares of IREN to $82.00 and set an “overweight” rating for the company in a research note on Friday. Zacks Research upgraded shares of IREN from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, JPMorgan Chase & Co. boosted their target price on IREN from $28.00 to $39.00 and gave the stock an “underweight” rating in a report on Monday, November 24th. Thirteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.29.

IREN Price Performance

The company has a current ratio of 4.96, a quick ratio of 4.96 and a debt-to-equity ratio of 1.51. The company has a 50 day moving average of $46.44 and a 200-day moving average of $42.95. The firm has a market capitalization of $12.17 billion, a P/E ratio of 32.28 and a beta of 4.26.

IREN (NASDAQ:IREN) last posted its earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.37). IREN had a negative return on equity of 10.01% and a net margin of 56.59%.The firm had revenue of $184.69 million for the quarter, compared to analyst estimates of $229.64 million. IREN’s quarterly revenue was down 23.1% compared to the same quarter last year. On average, sell-side analysts predict that IREN Limited will post 0.43 EPS for the current year.

Institutional Trading of IREN

A number of institutional investors and hedge funds have recently made changes to their positions in IREN. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of IREN in the 3rd quarter valued at about $1,854,000. Y Intercept Hong Kong Ltd acquired a new position in IREN in the second quarter valued at $6,877,000. Wealth Enhancement Advisory Services LLC grew its holdings in IREN by 88.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 115,230 shares of the company’s stock worth $5,408,000 after acquiring an additional 53,982 shares during the period. Meridian Wealth Management LLC acquired a new position in shares of IREN in the 3rd quarter valued at about $2,995,000. Finally, X Square Capital LLC grew its stake in IREN by 129.9% during the second quarter. X Square Capital LLC now owns 435,951 shares of the company’s stock worth $6,352,000 after purchasing an additional 246,333 shares during the period. Institutional investors own 41.08% of the company’s stock.

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.