B. Riley Financial Issues Pessimistic Forecast for IREN (NASDAQ:IREN) Stock Price

Key Points

• B. Riley Financial cut its IREN price target from $91 to $64 while maintaining a “buy” rating, implying roughly 161% upside from the stock’s $24.52 opening price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $78.86, although individual targets range from $40 to $99.
• IREN’s AI expansion is supported by $363 million in GPU-backed financing, but investors face significant risks from high leverage, substantial future capital needs, potential dilution and broader concerns about AI infrastructure spending.

IREN (NASDAQ:IREN - Get Free Report) had its price target decreased by B. Riley Financial from $91.00 to $64.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. B. Riley Financial's price target would indicate a potential upside of 160.98% from the company's current price.

Several other equities research analysts have also commented on the stock. Needham & Company LLC reissued a "hold" rating on shares of IREN in a research note on Tuesday, July 21st. JPMorgan Chase & Co. raised shares of IREN from an "underweight" rating to an "overweight" rating and boosted their target price for the stock from $46.00 to $65.00 in a report on Monday, September 14th. Canaccord Genuity Group reissued a "buy" rating and set a $79.00 price objective on shares of IREN in a research note on Friday, August 28th. Rothschild & Co Redburn started coverage on shares of IREN in a research note on Monday, September 21st. They issued a "neutral" rating and a $40.00 price target on the stock. Finally, Northland Securities began coverage on shares of IREN in a report on Friday, September 18th. They set an "outperform" rating and a $99.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $78.86.

IREN Stock Performance

NASDAQ IREN opened at $24.52 on Friday. IREN has a 1 year low of $23.72 and a 1 year high of $76.87. The company's 50 day simple moving average is $38.16 and its two-hundred day simple moving average is $44.54. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.55 and a quick ratio of 3.55. The stock has a market capitalization of $9.66 billion, a PE ratio of -10.47 and a beta of 4.26.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IREN. Integrity Alliance LLC. increased its holdings in IREN by 928.2% in the third quarter. Integrity Alliance LLC. now owns 68,828 shares of the company's stock valued at $2,814,000 after buying an additional 62,134 shares during the last quarter. BOCHK Asset Management Ltd acquired a new position in shares of IREN in the 3rd quarter worth approximately $147,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of IREN in the 3rd quarter valued at approximately $13,440,000. Vise Technologies Inc. increased its holdings in shares of IREN by 48.9% in the 3rd quarter. Vise Technologies Inc. now owns 6,620 shares of the company's stock valued at $271,000 after acquiring an additional 2,173 shares during the last quarter. Finally, Choreo LLC increased its holdings in shares of IREN by 41.2% in the 3rd quarter. Choreo LLC now owns 9,586 shares of the company's stock valued at $392,000 after acquiring an additional 2,795 shares during the last quarter. 41.08% of the stock is owned by hedge funds and other institutional investors.

Key IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: $363 million GPU-backed financing supports expansion without immediate equity dilution. IREN completed an equipment-financing transaction with Wingspire and six lenders, using fully paid, revenue-generating GPU assets and associated multiyear AI contracts as collateral. The funding provides cash for its neocloud buildout while avoiding a new share issuance. IREN Secures $363 Million Equipment Financing for AI Compute Infrastructure
• Positive Sentiment: Analysts and bullish commentary continue to point to significant AI-driven upside. IREN’s contracted AI revenue, Microsoft relationship and planned capacity expansion have led some analysts to project sharply higher future EBITDA, including nearly $10 billion by fiscal 2029. One Seeking Alpha analysis maintained a Strong Buy view, while another valued the stock at $37.65 in a base case. IREN Limited: A Strong Buy As AI Capacity Builds Toward Higher Future Earnings
• Neutral Sentiment: Investors are positioning ahead of IREN’s upcoming quarterly report. Zacks expects the company could beat earnings estimates, but the result and management’s outlook will be important in determining whether contracted demand is translating into profitable growth. IREN Limited Expected to Beat Earnings Estimates
• Negative Sentiment: Broader concerns about AI infrastructure spending are pressuring the stock. Microsoft’s capex falling short of expectations and delays in third-party capacity raised doubts about near-term demand and deployment timing. Separate worries over Alphabet’s AI cash burn have also affected data-center and neocloud stocks. IREN Drops as Alphabet’s AI Cash Burn Rattles Data Center Stocks
• Negative Sentiment: Leverage and capital requirements remain major risks. The GPU financing increases debt exposure, while analysts cite an estimated $25 billion–$30 billion of fiscal 2027 capital spending and possible future dilution. IREN’s high beta and unprofitable valuation amplify the impact of weaker sentiment toward speculative AI infrastructure companies. IREN: A $25 Stock That Trades Like a Call Option on the 2027 Build

IREN Company Profile

IREN Limited, formerly known as Iris Energy Limited, is a data center infrastructure company focused on bitcoin mining and high-performance computing. The company develops and operates data centers designed to support energy-intensive computing applications, including bitcoin mining and artificial intelligence (AI) cloud services.

IREN's operations are supported by company-owned electrical infrastructure, data centers and computing hardware. Its bitcoin mining business uses specialized application-specific integrated circuit (ASIC) machines, while its AI cloud offering is designed to provide access to advanced computing resources for AI development and other high-performance computing workloads.

Founded in 2018 and headquartered in Sydney, Australia, IREN has developed data center operations in North America, including facilities in British Columbia, Canada, and Texas.

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