IREN (NASDAQ:IREN) Stock Price Up 6% – Should You Buy?

Shares of IREN Limited (NASDAQ:IREN) were up 6% on Thursday . The stock traded as high as $36.93 and last traded at $35.80. Approximately 27,056,106 shares traded hands during mid-day trading, an increase of 3% from the average daily volume of 26,267,697 shares. The stock had previously closed at $33.78.

Key Headlines Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Major contract & capital raise bolster growth outlook — Seeking Alpha highlights a potential $9.7 billion Microsoft contract, IREN’s target of ~$3.4B ARR by 2026 while using only a fraction of its power pipeline, and a recent $4B capital raise to fund GPUs and buildout. These are clear catalysts supporting revenue visibility and execution of AI data-center demand. IREN: Big Contract Catalyst
• Positive Sentiment: Analyst upgrade reduces near-term downside risk — Zacks moved IREN from “strong sell” to “hold,” which may help stabilize investor sentiment after recent volatility and supports the stock’s recovery narrative. Zacks upgrade coverage
• Neutral Sentiment: Goldman Sachs starts coverage with a neutral rating and $39 PT — initiation is not a buy and implies limited upside from current levels, so it likely tempers some of the upside from operational catalysts without adding fresh conviction. Goldman Sachs initiation
• Negative Sentiment: Analyst omission drove near-term selling pressure — A broader data-center analyst report named two preferred buys and left IREN off the top picks list, contributing to recent weakness as momentum players rotated to favorites. This explains some of the intraweek clobbering noted in coverage. Why Iren Stock Was Getting Clobbered This Week

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IREN shares. Citigroup started coverage on shares of IREN in a research note on Wednesday, November 19th. They issued an “outperform” rating for the company. Cantor Fitzgerald lifted their price objective on shares of IREN from $27.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. Roth Capital set a $94.00 target price on shares of IREN and gave the stock a “buy” rating in a research report on Monday, November 3rd. Wall Street Zen upgraded IREN from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of IREN in a research note on Monday. Twelve research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.64.

IREN Stock Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.52 and a current ratio of 5.52. The company has a market cap of $11.32 billion, a PE ratio of 20.58 and a beta of 4.23. The business’s 50-day moving average is $52.41 and its 200 day moving average is $33.89.

Institutional Investors Weigh In On IREN

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC bought a new position in IREN during the 3rd quarter worth approximately $25,000. Allianz SE purchased a new stake in shares of IREN during the third quarter valued at approximately $57,000. Sherman Asset Management Inc. bought a new position in shares of IREN in the third quarter worth approximately $59,000. Banque Cantonale Vaudoise bought a new position in shares of IREN in the third quarter worth approximately $67,000. Finally, Vermillion Wealth Management Inc. purchased a new position in shares of IREN in the third quarter worth $74,000. 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.