Investors Buy Large Volume of Iris Energy Call Options (NASDAQ:IREN)

Iris Energy Limited (NASDAQ:IREN - Get Free Report) saw unusually large options trading activity on Monday. Stock investors bought 15,381 call options on the stock. This represents an increase of approximately 69% compared to the average daily volume of 9,116 call options.

Iris Energy Stock Performance

IREN traded down $0.38 during trading on Monday, reaching $5.61. The company had a trading volume of 8,400,202 shares, compared to its average volume of 8,176,361. Iris Energy has a 12 month low of $2.21 and a 12 month high of $9.69. The business's fifty day moving average price is $5.89 and its 200 day moving average price is $4.75.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. UBS Group AG lifted its stake in Iris Energy by 25.7% in the first quarter. UBS Group AG now owns 15,957 shares of the company's stock valued at $49,000 after buying an additional 3,259 shares in the last quarter. Walleye Capital LLC lifted its stake in Iris Energy by 23.2% in the third quarter. Walleye Capital LLC now owns 19,025 shares of the company's stock valued at $71,000 after buying an additional 3,579 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of Iris Energy by 54.7% in the fourth quarter. Advisory Services Network LLC now owns 16,550 shares of the company's stock worth $118,000 after purchasing an additional 5,850 shares in the last quarter. BlackRock Inc. lifted its position in shares of Iris Energy by 15.1% in the second quarter. BlackRock Inc. now owns 64,428 shares of the company's stock worth $300,000 after purchasing an additional 8,463 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new stake in shares of Iris Energy in the first quarter worth $32,000. Institutional investors own 21.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group lifted their price target on shares of Iris Energy from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, February 22nd. Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 price objective on shares of Iris Energy in a research note on Monday, December 4th. HC Wainwright reduced their price objective on shares of Iris Energy from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, November 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Iris Energy from $9.00 to $9.50 and gave the stock an "overweight" rating in a research note on Friday, December 8th. Finally, B. Riley lifted their price objective on shares of Iris Energy from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $12.08.

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.

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