IREN Ltd. (IREN) stock declined Monday ahead of the company's quarterly earnings, adding to a sharp selloff that has wiped out nearly 45% of its value over the past month amid growing caution toward AI infrastructure stocks.

The decline came as the technology sector fell 1.09%, even as the broader market advanced. The Nasdaq gained 0.46%, while the S&P 500 rose 0.58%.

IREN's decline reflects continued weakness across AI data center and cloud infrastructure stocks.

Earnings In Focus

IREN is scheduled to report fiscal first-quarter earnings Thursday.

Analysts expect a loss of 67 cents per share, compared with a loss of $1.08 a year earlier.

Revenue is projected to fall to $223.19 million from $240.29 million.

The stock carries a Buy consensus rating, with an average analyst price forecast of $75.08.

Technical Analysis

IREN remains under significant selling pressure. The stock trades 22.4% below its 20-day simple moving average (SMA) of $29.80 and 47.7% below its 200-day SMA of $44.22.

A bearish death cross formed in August when the 50-day SMA fell below the 200-day SMA.

The relative strength index (RSI) stands at 28.93, signaling oversold conditions. While this could support a short-term rebound, the broader trend remains weak.

The stock has also fallen below its previous 52-week low of $23.72, signaling further downside pressure.

IREN Stock Price Action

IREN shares fell 2.88% to $23.26 at last check Monday, according to market data.