Iris Energy Target of Unusually Large Options Trading (NASDAQ:IREN)

Iris Energy Limited (NASDAQ:IRENGet Free Report) was the recipient of unusually large options trading on Friday. Investors bought 42,291 call options on the company. This represents an increase of 59% compared to the typical volume of 26,567 call options.

Hedge Funds Weigh In On Iris Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Tucker Asset Management LLC bought a new stake in Iris Energy in the 3rd quarter valued at approximately $47,000. Exchange Traded Concepts LLC lifted its stake in Iris Energy by 47.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 613,818 shares of the company’s stock valued at $4,389,000 after acquiring an additional 196,635 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Iris Energy by 52.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,037,420 shares of the company’s stock valued at $7,418,000 after acquiring an additional 356,752 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Iris Energy by 123.2% in the 4th quarter. Vontobel Holding Ltd. now owns 62,791 shares of the company’s stock valued at $449,000 after acquiring an additional 34,662 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Iris Energy by 32.9% in the 4th quarter. Van ECK Associates Corp now owns 1,485,909 shares of the company’s stock valued at $10,624,000 after acquiring an additional 368,140 shares in the last quarter. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Iris Energy Trading Down 4.5 %

Shares of IREN opened at $13.28 on Friday. The stock has a 50 day simple moving average of $7.57 and a 200 day simple moving average of $6.35. Iris Energy has a 52-week low of $2.79 and a 52-week high of $14.95.

Iris Energy (NASDAQ:IRENGet Free Report) last issued its quarterly earnings data on Wednesday, May 15th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.04). The company had revenue of $54.35 million during the quarter, compared to analyst estimates of $58.41 million. As a group, equities research analysts anticipate that Iris Energy will post 0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Iris Energy from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. B. Riley decreased their target price on Iris Energy from $10.00 to $9.50 and set a “buy” rating for the company in a research report on Friday, March 15th. Cantor Fitzgerald upgraded Iris Energy to a “strong-buy” rating in a research report on Wednesday, June 12th. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Iris Energy in a research report on Thursday, May 16th. Finally, Canaccord Genuity Group boosted their target price on Iris Energy from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Iris Energy presently has an average rating of “Buy” and a consensus target price of $14.92.

Check Out Our Latest Report on IREN

Iris Energy Company Profile

(Get Free Report)

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.

Further Reading

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