IREN Ltd (NASDAQ:IREN) stock moved higher on Thursday, a day after the stock fell 13.62%. Nasdaq futures are up 1.69% while S&P 500 futures have gained 0.67%.
IREN operates data centers powered by renewable energy in Canada and the U.S. for bitcoin mining and AI cloud infrastructure.
For the quarter ended March 31, IREN reported cash and cash equivalents of $2.213 billion and total assets of $7.265 billion. The company’s market capitalization stands at $10.475 billion.
IREN is still in a longer-term reset despite the premarket bounce: at $31.97, the stock is trading 16.8% below its 20-day SMA ($38.80) and 34.8% below its 50-day SMA ($49.57), which keeps the intermediate trend pointed down. It’s also 33.2% below its 200-day SMA ($48.34), showing how much ground it would need to recover to get back into a sustained uptrend.
The bigger-picture backdrop is mixed because the stock logged a golden cross in May (50-day SMA above the 200-day SMA), but price has since slipped well under those longer averages, undercutting that bullish signal. The chart’s recent turning points reinforce the chop: a swing high formed in June, a swing low followed in July, and the stock broke below support in July—often a sign that prior buyers are now potential sellers on rebounds.
IREN Stock Price Activity: Iren shares were up 9.11% at $31.98 during premarket trading on Thursday, according to Benzinga Pro data.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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