IREN (NASDAQ:IREN) Upgraded by Freedom Capital to “Strong-Buy” Rating

Freedom Capital upgraded shares of IREN (NASDAQ:IREN) from a hold rating to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

A number of other research firms have also recently issued reports on IREN. Weiss Ratings raised shares of IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Canaccord Genuity Group increased their price objective on shares of IREN from $70.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. HC Wainwright lifted their target price on shares of IREN to $85.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Jefferies Financial Group began coverage on shares of IREN in a research note on Thursday, June 18th. They set a “buy” rating and a $79.00 target price for the company. Finally, B. Riley Financial raised their price target on shares of IREN from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.36.

IREN Price Performance

Shares of NASDAQ:IREN traded down $4.43 during trading on Monday, reaching $39.48. 11,339,437 shares of the company’s stock traded hands, compared to its average volume of 41,956,555. IREN has a fifty-two week low of $14.72 and a fifty-two week high of $76.87. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44. The firm has a market cap of $14.11 billion, a PE ratio of 82.20 and a beta of 4.27. The company has a 50-day simple moving average of $54.55 and a 200-day simple moving average of $47.68.

IREN (NASDAQ:IREN) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The business had revenue of $144.79 million during the quarter, compared to analyst estimates of $219.69 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%. As a group, analysts predict that IREN will post -1.25 earnings per share for the current year.

Hedge Funds Weigh In On IREN

A number of institutional investors and hedge funds have recently bought and sold shares of IREN. Oppenheimer & Co. Inc. boosted its holdings in shares of IREN by 257.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 26,958 shares of the company’s stock worth $1,018,000 after purchasing an additional 19,423 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in IREN by 282.2% during the fourth quarter. Sanctuary Advisors LLC now owns 46,224 shares of the company’s stock worth $1,746,000 after buying an additional 34,129 shares during the last quarter. Avaii Wealth Management LLC grew its holdings in IREN by 208.9% in the 4th quarter. Avaii Wealth Management LLC now owns 145,767 shares of the company’s stock valued at $5,506,000 after buying an additional 98,581 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in shares of IREN by 349.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 127,835 shares of the company’s stock worth $4,379,000 after acquiring an additional 99,384 shares during the last quarter. Finally, Private Advisor Group LLC increased its stake in shares of IREN by 12.7% in the 3rd quarter. Private Advisor Group LLC now owns 781,666 shares of the company’s stock worth $36,684,000 after acquiring an additional 88,081 shares during the last quarter. 41.08% of the stock is currently owned by institutional investors and hedge funds.

More IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Reports that Anthropic is considering IREN for a massive Australian AI cloud tender have raised hopes for a major new revenue opportunity and reinforced the company’s AI data center growth story. Anthropic’s A$22 Billion Australian AI Cloud Tender Might Change The Case For Investing In IREN
• Positive Sentiment: Bernstein reiterated a Buy rating and a $100 target, suggesting meaningful upside and helping fuel the rebound after recent weakness. IREN Ltd (IREN) Is One Of The Top Underperforming Data Center Stocks To Buy
• Positive Sentiment: Analyst coverage highlighted IREN as one of the better AI/data-center names to own on the recent pullback, supporting the idea that investors are rotating back into the stock. IREN Stock Soars as Analyst Says Buy the Dip
• Neutral Sentiment: Coverage comparing IREN with other former Bitcoin miners, including TeraWulf, is reinforcing the broader narrative that AI contracts could re-rate the sector, but no deal has been confirmed for IREN yet. TeraWulf and IREN just joined Anthropic’s growing club of former Bitcoin miners
• Neutral Sentiment: Additional articles noted that IREN had been in a recent downtrend before the Anthropic speculation sparked buying, suggesting the move is partly a sentiment rebound rather than a fundamental announcement. Why Is IREN Stock Rising in Pre-Market Today — July 6, 2026?
• Negative Sentiment: Some commentary reminded investors that Anthropic’s Australia capacity plans are still speculative and based on leaked or reported documents, so execution and contract risk remain high. Does IREN Have the Inside Track on This $22 Billion Opportunity?

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.