Iris Energy Sees Unusually High Options Volume (NASDAQ:IREN)

Iris Energy Limited (NASDAQ:IREN) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 23,949 call options on the company. This is an increase of approximately 66% compared to the typical daily volume of 14,386 call options.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Iris Energy in a research note on Tuesday, April 2nd. Canaccord Genuity Group restated a “buy” rating and set a $9.00 price objective on shares of Iris Energy in a research report on Thursday, March 28th. B. Riley decreased their price objective 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. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Iris Energy in a research report on Thursday, March 28th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Iris Energy currently has a consensus rating of “Buy” and an average target price of $12.00.

Iris Energy Stock Up 0.5 %

Shares of Iris Energy stock traded up $0.02 during trading on Tuesday, hitting $4.35. 4,730,758 shares of the stock traded hands, compared to its average volume of 9,269,382. Iris Energy has a twelve month low of $2.79 and a twelve month high of $9.69. The company has a fifty day moving average price of $5.66 and a two-hundred day moving average price of $4.93.

Iris Energy (NASDAQ:IREN) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $42.57 million during the quarter, compared to analyst estimates of $37.58 million. On average, equities research analysts expect that Iris Energy will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Iris Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC acquired a new stake in Iris Energy in the 1st quarter worth approximately $32,000. Toroso Investments LLC acquired a new stake in Iris Energy in the 3rd quarter worth approximately $46,000. Tucker Asset Management LLC acquired a new stake in Iris Energy in the 3rd quarter worth approximately $47,000. UBS Group AG lifted its holdings in Iris Energy by 25.7% in the 1st quarter. UBS Group AG now owns 15,957 shares of the company’s stock worth $49,000 after purchasing an additional 3,259 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its holdings in Iris Energy by 42.7% in the 4th quarter. Penserra Capital Management LLC now owns 46,371 shares of the company’s stock worth $57,000 after purchasing an additional 13,885 shares during the last quarter. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Iris Energy Company Profile

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