IREN (NASDAQ:IREN) Stock Falls 7.8% on Analyst Downgrade

IREN Limited (NASDAQ:IREN) shares dropped 7.8% on Tuesday after CCB Int’l downgraded the stock from an outperform rating to a neutral rating. The stock traded as low as $19.03 and last traded at $19.73. Approximately 74,059,262 shares changed hands during trading, an increase of 65% from the average session volume of 44,876,094 shares. The stock had previously closed at $21.41.

A number of other equities research analysts have also issued reports on IREN. Weiss Ratings lowered IREN from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, October 28th. UBS Group reissued an “overweight” rating on shares of IREN in a report on Monday. Needham & Company LLC restated a “hold” rating on shares of IREN in a research report on Tuesday, July 21st. B. Riley Financial reduced their target price on shares of IREN from $91.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $79.00 price target on shares of IREN in a report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.57.

More IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN’s fiscal Q1 2027 results highlighted strong AI cloud momentum: revenue in the business was reported at about $200 million, up 182% quarter over quarter, with adjusted EBITDA margins of 29%. The company has also cited strong demand and a $20.3 billion backlog. IREN Could Be 70% Undervalued On Strong Q1 AI Cloud Revenue
• Neutral Sentiment: HC Wainwright maintained its Buy rating and $56 target, but its 2027 quarterly EPS estimates were mixed: it lowered forecasts for Q2 and Q4 while raising its Q3 estimate to a profit. HC Wainwright estimate updates
• Negative Sentiment: IREN’s $4 billion annualized revenue goal has reportedly shifted to early 2027, with a Microsoft deployment delay pushing contracted revenue into a later period. Coverage also flags rising costs, continued losses, and a potential $6 billion funding gap for the AI infrastructure buildout. IREN’s $4B Revenue Goal Delayed
• Negative Sentiment: CCB International cut its rating from Outperform to Neutral. Separately, a Seeking Alpha article issued a downgrade, citing the risk of a prolonged AI downturn—an added concern for a company redirecting investment toward AI data centers. IREN Stock Bumped Down to Neutral by CCB Int’l A Long AI Winter Is Coming

Institutional Trading of IREN

Several large investors have recently bought and sold shares of IREN. Situational Awareness LP boosted its holdings in IREN by 34.5% in the 1st quarter. Situational Awareness LP now owns 11,698,835 shares of the company’s stock valued at $401,036,000 after purchasing an additional 2,998,214 shares during the last quarter. Swiss National Bank purchased a new position in shares of IREN in the 1st quarter valued at about $33,032,000. Amundi grew its position in shares of IREN by 3,865.8% in the 1st quarter. Amundi now owns 845,113 shares of the company’s stock valued at $28,970,000 after buying an additional 823,803 shares during the last quarter. Bank of America Corp DE raised its stake in IREN by 58.4% during the 1st quarter. Bank of America Corp DE now owns 2,138,619 shares of the company’s stock worth $73,312,000 after acquiring an additional 788,547 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in IREN during the 1st quarter worth $20,878,000. Hedge funds and other institutional investors own 41.08% of the company’s stock.

IREN Trading Down 7.8%

The stock has a market capitalization of $7.77 billion, a PE ratio of -4.84 and a beta of 4.33. The company has a quick ratio of 3.55, a current ratio of 3.55 and a debt-to-equity ratio of 1.80. The business’s 50-day moving average is $35.59 and its two-hundred day moving average is $43.44.

IREN (NASDAQ:IREN) last posted its earnings results on Thursday, November 5th. The company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.06. The business had revenue of $228.00 million during the quarter, compared to the consensus estimate of $228.26 million. IREN had a negative return on equity of 15.46% and a negative net margin of 99.38%. On average, analysts anticipate that IREN Limited will post -0.49 earnings per share for the current fiscal year.

About IREN

IREN Limited, formerly known as Iris Energy, develops and operates data centers for bitcoin mining and artificial intelligence cloud services. Its AI business provides access to high-performance computing infrastructure, including GPU-based services, for customers with demanding computing needs. Founded in Australia in 2018 by brothers Daniel and Will Roberts, the company has expanded its data-center operations into North America, including locations in British Columbia, Canada, and Texas. IREN has emphasized developing facilities with access to renewable energy.