Iris Energy Limited (NASDAQ:IREN - Get Free Report) was the target of some unusual options trading activity on Tuesday. Investors bought 23,949 call options on the company. This is an increase of 66% compared to the typical volume of 14,386 call options.
Analysts Set New Price Targets
A number of research firms have weighed in on IREN. B. Riley dropped their price target on shares of 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 reiterated an "overweight" rating and issued a $10.00 price target on shares of Iris Energy in a research report on Thursday, March 28th. Canaccord Genuity Group reiterated a "buy" rating and issued a $9.00 price target on shares of Iris Energy in a research report on Thursday, March 28th. Finally, HC Wainwright reiterated a "buy" rating and issued a $10.00 price target on shares of Iris Energy in a research report on Tuesday, April 2nd. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $12.00.
Check Out Our Latest Research Report on IREN
Iris Energy Price Performance
Shares of NASDAQ:IREN traded up $0.02 during midday trading on Tuesday, reaching $4.35. 4,760,868 shares of the company were exchanged, compared to its average volume of 9,269,437. The business's fifty day moving average is $5.67 and its two-hundred day moving average is $4.94. Iris Energy has a one year low of $2.79 and a one year high of $9.69.
Iris Energy (NASDAQ:IREN - Get Free Report) last issued its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter. The company had revenue of $42.57 million for the quarter, compared to analysts' expectations of $37.58 million. As a group, sell-side analysts expect that Iris Energy will post 0.08 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Iris Energy
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vident Advisory LLC lifted its position in Iris Energy by 110.5% during the fourth quarter. Vident Advisory LLC now owns 1,237,155 shares of the company's stock valued at $8,846,000 after purchasing an additional 649,411 shares during the last quarter. Van ECK Associates Corp lifted its position in Iris Energy by 32.9% during the fourth quarter. Van ECK Associates Corp now owns 1,485,909 shares of the company's stock valued at $10,624,000 after purchasing an additional 368,140 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Iris Energy by 52.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,037,420 shares of the company's stock valued at $7,418,000 after purchasing an additional 356,752 shares during the last quarter. Regal Partners Ltd lifted its position in Iris Energy by 19.8% during the second quarter. Regal Partners Ltd now owns 1,420,633 shares of the company's stock valued at $6,620,000 after purchasing an additional 235,027 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in Iris Energy during the fourth quarter valued at $1,655,000. Institutional investors own 41.08% of the company's stock.
About Iris Energy
(
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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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