Iren Ltd stock hit a 52-week low of 23.7 USD, with shares trading at 23.65 USD. The stock has declined 60.35% over the past year and fallen 42% in the past six months, reflecting extreme volatility with a beta of 4.27.
Despite the selloff, InvestingPro analysis suggests the stock may be undervalued, with analysts predicting profitability this year.
Iren secured a multiyear cloud services agreement with Anthropic as part of its transition from cryptocurrency mining to AI server provision. JPMorgan upgraded Iren's rating from Underweight to Overweight and raised its price target to 65 USD, citing growth in the neocloud sector and a strategic partnership with NVIDIA. The firm noted momentum in signing customers and increasing industry pricing.
BTIG reiterated its Buy rating, highlighting power capacity expansion and a substantial run-rate GPU as a service business. Rothschild Redburn initiated coverage with a Neutral rating and a 40 USD price target. Jones Trading initiated coverage with a Hold rating, mentioning Iren's broad customer base and delivery track record.
Investors monitoring IREN stock should track whether the company can execute on its AI infrastructure strategy and sustain customer additions amid the analyst divergence between JPMorgan's 65 USD target and Rothschild Redburn's 40 USD target.