IREN (NASDAQ:IREN) Trading Down 5% – What’s Next?

07 Jan 2026, 22:10 by Tristan Rich · The Markets Daily

Shares of IREN Limited (NASDAQ:IREN – Get Free Report) fell 5% during mid-day trading on Wednesday . The stock traded as low as $43.60 and last traded at $43.63. 21,476,095 shares traded hands during trading, a decline of 38% from the average session volume of 34,716,320 shares. The stock had previously closed at $45.91.

Key Stories Impacting IREN

Here are the key news stories impacting IREN this week:

Positive Sentiment: Major AI/cloud contracts and pivot narrative: Coverage highlights IREN’s transition from Bitcoin mining to AI data centers and cites large multi‑year contracts (including a Microsoft deal and management’s FY26 revenue targets), which support expectations of durable, contracted revenue and higher margins. Why IREN Is Cheap Now
Positive Sentiment: Analyst sentiment & institutional activity: Recent MarketBeat coverage notes upgrades, rising price targets and growing institutional accumulation, and frames IREN as a potential short‑squeeze candidate as short interest has started to fall — all momentum drivers for the stock. IREN Limited: A Data Center Power Play in Rebound Mode
Positive Sentiment: Short-term bullish catalysts / news flow: Coverage points to event-driven moves (CES buzz, Bitcoin‑related volatility and AI demand) that can produce rapid upside; recent headlines tied to CES and Bitcoin interest pushed the stock higher in early January. Here’s why Iren stock jumped 13 on the back of CES 2026
Neutral Sentiment: Valuation debate: Analysts flag a high P/S (reported ~24.12x), keeping the name in “hold” territory for some investors despite growth prospects — valuation could cap upside until more recurring revenue is proven. IREN Stock Trading at a P/S of 24.12X: Should You Buy, Sell or Hold?
Neutral Sentiment: Sector context — miners shifting to AI/data centers: Broader writeups on crypto miners note IREN among names pivoting into higher‑margin AI/data center hosting; that strategic shift is promising but execution‑dependent. Is 2026 The Year to Load Up on Crypto Miners?
Negative Sentiment: Mixed fundamentals and prior misses: IREN’s last quarterly report missed EPS/revenue expectations on the revenue line, leaving a near‑term earnings overhang until the company proves AI/cloud revenue converts to stable ARR. What’s Driving the Market Sentiment Around IREN Ltd?
Negative Sentiment: High volatility & short interest risk: The stock remains highly volatile, subject to rapid swings from Bitcoin moves, short‑covering, and event headlines — which can drive sharp pullbacks as investors take profits. Looking At The Narrative For IREN After AI Cloud Deals And Split Analyst Views

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IREN. JPMorgan Chase & Co. increased their target price on IREN from $28.00 to $39.00 and gave the stock an “underweight” rating in a research note on Monday, November 24th. HC Wainwright increased their price objective on IREN from $45.00 to $56.00 and gave the stock a “sell” rating in a research report on Tuesday, November 4th. Canaccord Genuity Group lifted their target price on IREN from $42.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, November 10th. BTIG Research upped their price target on shares of IREN from $32.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Finally, Wall Street Zen lowered shares of IREN from a “hold” rating to a “sell” rating in a research report on Monday, December 22nd. Twelve analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.64.

Read Our Latest Stock Report on IREN

IREN Trading Down 5.0%

The stock has a market capitalization of $12.37 billion, a P/E ratio of 22.49 and a beta of 4.25. The company has a current ratio of 5.52, a quick ratio of 5.52 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $47.65 and a two-hundred day moving average price of $36.90.

IREN (NASDAQ:IREN – Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.48). IREN had a net margin of 86.96% and a negative return on equity of 3.60%. The company had revenue of $240.30 million during the quarter, compared to analyst estimates of $244.60 million. The firm’s revenue was up 28.3% compared to the same quarter last year. On average, analysts expect that IREN Limited will post 0.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of IREN by 14.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 987,466 shares of the company’s stock valued at $6,014,000 after purchasing an additional 122,668 shares in the last quarter. Belpointe Asset Management LLC lifted its position in shares of IREN by 21.8% during the 1st quarter. Belpointe Asset Management LLC now owns 24,974 shares of the company’s stock worth $152,000 after buying an additional 4,465 shares during the last quarter. Balefire LLC bought a new stake in shares of IREN during the 2nd quarter worth $1,214,000. Baader Bank Aktiengesellschaft acquired a new stake in IREN in the second quarter valued at about $4,808,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in IREN by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 61,248 shares of the company’s stock valued at $892,000 after acquiring an additional 3,307 shares during the last quarter. 41.08% of the stock is currently owned by institutional investors and hedge funds.

About IREN

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