IREN Limited (NASDAQ:IREN - Get Free Report) saw unusually large options trading activity on Monday. Traders acquired 113,283 call options on the company. This represents an increase of 73% compared to the average daily volume of 65,446 call options.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and set a $23.00 target price on shares of IREN in a research note on Friday, May 16th. B. Riley raised their price objective on shares of IREN from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Macquarie raised their price objective on shares of IREN from $15.50 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. HC Wainwright lowered their price objective on shares of IREN from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. raised shares of IREN from a "neutral" rating to an "overweight" rating and lowered their price objective for the company from $15.00 to $12.00 in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.30.
Check Out Our Latest Research Report on IREN
IREN Trading Up 1.8%
Shares of NASDAQ:IREN traded up $0.19 during midday trading on Monday, reaching $10.66. The company had a trading volume of 26,385,568 shares, compared to its average volume of 16,013,917. IREN has a 1-year low of $5.13 and a 1-year high of $15.92. The company has a fifty day simple moving average of $7.98 and a two-hundred day simple moving average of $9.20.
IREN (NASDAQ:IREN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.06). The company had revenue of $148.10 million during the quarter, compared to the consensus estimate of $153.38 million. IREN had a negative net margin of 9.40% and a negative return on equity of 2.12%. Sell-side analysts forecast that IREN will post 0.43 earnings per share for the current year.
Institutional Trading of IREN
A number of large investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership grew its stake in shares of IREN by 1,307.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,684,836 shares of the company's stock valued at $55,825,000 after buying an additional 5,280,999 shares in the last quarter. Situational Awareness LP bought a new position in shares of IREN in the first quarter valued at $20,500,000. Discovery Capital Management LLC CT bought a new position in shares of IREN in the fourth quarter valued at $11,544,000. Two Sigma Investments LP grew its stake in shares of IREN by 193.2% in the fourth quarter. Two Sigma Investments LP now owns 1,602,642 shares of the company's stock valued at $15,738,000 after buying an additional 1,056,005 shares in the last quarter. Finally, Regal Partners Ltd grew its stake in shares of IREN by 93.9% in the fourth quarter. Regal Partners Ltd now owns 1,697,554 shares of the company's stock valued at $16,670,000 after buying an additional 822,251 shares in the last quarter. 41.08% of the stock is owned by institutional investors.
About IREN
(
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.
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