Why IREN stock price is jumping today: Feb. 5 earnings set, 2x short ETF launches

IREN Limited shares jumped 11.5% on Friday, closing at $57.82 and holding near the day's peak heading into the weekend. The stock traded in a range between $51.94 and $58.74, with roughly 54 million shares changing hands. In after-hours trading, it was last seen around $58.24.

Shares of IREN Limited dipped Thursday following a downgrade in near-term earnings estimates by H.C. Wainwright. The brokerage, however, maintained its Buy rating and held firm on an $80 price target.

Shares of IREN Limited dropped 1.7% to $52.08 in early trading Wednesday, despite an upgrade to Buy from H.C. Wainwright. Analyst Mike Colonnese set a price target of $80, according to reports. So far, the stock has oscillated between $50.89 and $54.11, with roughly 14.8 million shares changing hands by 11:00 a.m. EST.

IREN Limited shares jumped roughly 5.3%, closing at $52.99 in after-hours trading Tuesday. The move followed a double upgrade to Buy from H.C. Wainwright, which also boosted the price target sharply—from $56 up to $80. Analyst Mike Colonnese described IREN as “the most levered exposure across our coverage universe to this theme,” adding that “the stage is set for a transformative year.”

IREN Limited shares jumped roughly 9% to $50.05 by midday Monday, hitting an intraday peak of $50.84. The Nasdaq-listed stock gained $4.02 from Friday’s close, with around 29.2 million shares changing hands.