IREN Limited (NASDAQ:IREN - Get Free Report) saw unusually large options trading on Tuesday. Stock investors acquired 145,126 call options on the stock. This is an increase of approximately 87% compared to the average daily volume of 77,645 call options.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on IREN shares. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $23.00 target price on shares of IREN in a research report on Friday, May 16th. HC Wainwright decreased their target price on IREN from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Thursday, May 15th. Wall Street Zen downgraded IREN from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. raised IREN from a "neutral" rating to an "overweight" rating and reduced their price target for the company from $15.00 to $12.00 in a report on Thursday, March 13th. Finally, Macquarie increased their price target on IREN from $15.50 to $20.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $20.30.
Read Our Latest Report on IREN
IREN Stock Down 0.4%
Shares of IREN stock traded down $0.06 on Tuesday, reaching $16.89. 28,426,190 shares of the company were exchanged, compared to its average volume of 16,822,372. The company's 50-day moving average is $9.83 and its two-hundred day moving average is $9.28. IREN has a 1-year low of $5.13 and a 1-year high of $18.54.
IREN (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $153.38 million. IREN had a negative return on equity of 2.12% and a negative net margin of 9.40%. Equities research analysts forecast that IREN will post 0.43 earnings per share for the current year.
Institutional Trading of IREN
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. HM Payson & Co. acquired a new stake in IREN in the 4th quarter valued at approximately $30,000. Crewe Advisors LLC acquired a new stake in IREN in the 1st quarter valued at approximately $39,000. Quarry LP acquired a new stake in IREN in the 1st quarter valued at approximately $40,000. Main Management LLC acquired a new stake in IREN in the 4th quarter valued at approximately $49,000. Finally, Delta Financial Group Inc. acquired a new stake in IREN in the 1st quarter valued at approximately $61,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.
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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