IREN (NASDAQ:IREN) Given New $91.00 Price Target at B. Riley Financial

Key Points

• B. Riley Financial cut IREN’s price target from $96 to $91 but maintained a “Buy” rating, implying roughly 119% upside from the stock’s $41.48 price. The broader analyst consensus is “Moderate Buy,” with an average target of $81.13.
• IREN shares fell 0.6% to $41.48 and remain well below their 52-week high of $76.87. Institutional investors own approximately 41.08% of the company.
• IREN’s shift from Bitcoin mining toward AI cloud and high-performance computing is a key potential growth catalyst, but analysts question customer quality, executive compensation and whether the company can convert expanded capacity into durable profits.

IREN (NASDAQ:IREN - Get Free Report) had its price target reduced by investment analysts at B. Riley Financial from $96.00 to $91.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the stock. B. Riley Financial's price objective would suggest a potential upside of 119.37% from the company's current price.

Other analysts have also recently issued reports about the company. Rothschild & Co Redburn initiated coverage on IREN in a research note on Monday, September 21st. They issued a "neutral" rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. upgraded IREN from an "underweight" rating to an "overweight" rating and upped their price target for the stock from $46.00 to $65.00 in a report on Monday, September 14th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of IREN in a research report on Monday, July 20th. Citigroup reiterated a "market outperform" rating on shares of IREN in a research note on Friday, August 28th. Finally, Freedom Capital raised IREN from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, IREN has an average rating of "Moderate Buy" and a consensus price target of $81.13.

IREN Stock Down 0.6%

Shares of NASDAQ:IREN traded down $0.24 during trading on Tuesday, hitting $41.48. The company's stock had a trading volume of 13,642,090 shares, compared to its average volume of 42,325,637. The business has a 50 day moving average price of $41.46 and a two-hundred day moving average price of $45.84. The company has a market capitalization of $16.35 billion, a PE ratio of -17.78 and a beta of 4.28. The company has a debt-to-equity ratio of 1.80, a quick ratio of 3.55 and a current ratio of 3.55. IREN has a fifty-two week low of $28.93 and a fifty-two week high of $76.87.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in IREN by 177.5% during the second quarter. GAMMA Investing LLC now owns 691 shares of the company's stock worth $32,000 after purchasing an additional 442 shares during the last quarter. Purpose Unlimited Inc. purchased a new position in IREN in the fourth quarter valued at approximately $34,000. Hollencrest Capital Management raised its holdings in IREN by 50.0% during the first quarter. Hollencrest Capital Management now owns 1,050 shares of the company's stock worth $36,000 after purchasing an additional 350 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in IREN by 521.0% during the second quarter. Harbor Investment Advisory LLC now owns 1,037 shares of the company's stock worth $47,000 after purchasing an additional 870 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its position in shares of IREN by 19.8% during the 1st quarter. CENTRAL TRUST Co now owns 1,485 shares of the company's stock worth $51,000 after buying an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 41.08% of the company's stock.

Key Headlines Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: A Wall Street analyst assigned IREN a potential $100 price target, suggesting the stock could more than double if the company successfully executes its AI-computing expansion. However, the outlook depends heavily on an upcoming quarter and the company’s ability to convert capacity into profitable business. IREN’s Yearlong Downward Trend Continues: A Prominent Wall Street Firm Says It Will Double and Then Some
• Positive Sentiment: IREN’s transition from Bitcoin mining toward AI cloud services remains a potential catalyst. Its power capacity, computing infrastructure and leasing strategy could give it an advantage if demand for AI data-center capacity continues to grow relative to rival Riot Platforms. IREN vs. Riot Platforms: Which Bitcoin-to-AI Stock Looks Stronger Now?
• Positive Sentiment: One valuation analysis cited a roughly $78 average Wall Street target and an approximately $90 midpoint target, implying significant potential returns if IREN meets its growth expectations. IREN Stock Is Up 17% in 2026. Here’s Where the Stock Could Go
• Neutral Sentiment: IREN continues to appear on cryptocurrency and mining-stock watch lists, keeping attention focused on Bitcoin prices and the broader digital-asset market. Best Mining Stocks To Watch Today - September 27th Bitcoin Stocks To Follow Today - September 27th
• Negative Sentiment: Analyst Kevin Dede acknowledged IREN’s ability to deliver computing capacity but questioned the quality of its customers and criticized executive compensation, raising concerns about whether growth will translate into durable shareholder value. IREN Just Got a Reality Check From Wall Street
• Negative Sentiment: Jones Trading’s cautious “Hold” view and a $40 target weighed on the shares, particularly after IREN’s decline from its peak and its continuing underperformance versus some Bitcoin-mining peers. IREN Stock Falls as Analyst Says Hold, Cites a Few Polarizing Factors

About IREN

IREN Limited, formerly known as Iris Energy Limited, is a data center infrastructure company focused on high-performance computing. The company develops and operates data centers powered by renewable energy and uses this infrastructure primarily for Bitcoin mining and, increasingly, artificial intelligence and other GPU-intensive cloud-computing applications.

IREN designs, builds and operates its own data centers, providing access to electrical power, computing hardware and related infrastructure.

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