Traders Purchase High Volume of IREN Call Options (NASDAQ:IREN)

Key Points

• Traders purchased 338,912 call options on IREN—about a 38% increase versus typical call volume—indicating unusually large bullish options activity.
• IREN shares rose to $51.87 on heavy volume, but the company reported a quarterly miss (EPS $(0.44) vs $(0.07) expected) with revenue of $184.69M, down 23.1% year‑over‑year.
• Analysts remain largely positive overall, with 13 Buy ratings and a consensus price target of $70.08, including HC Wainwright’s upgrade to Buy with an $80 target.

IREN Limited (NASDAQ:IREN - Get Free Report) was the target of unusually large options trading on Thursday. Traders purchased 338,912 call options on the company. This is an increase of 38% compared to the typical volume of 244,754 call options.

IREN Price Performance

IREN stock traded up $3.48 during trading hours on Thursday, reaching $51.87. 42,587,391 shares of the stock were exchanged, compared to its average volume of 37,862,965. The stock has a 50 day moving average of $41.04 and a two-hundred day moving average of $47.58. IREN has a twelve month low of $5.72 and a twelve month high of $76.87. The company has a current ratio of 4.96, a quick ratio of 4.96 and a debt-to-equity ratio of 1.51. The company has a market cap of $17.24 billion, a P/E ratio of 38.95 and a beta of 4.30.

IREN (NASDAQ:IREN - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.37). The company had revenue of $184.69 million for the quarter, compared to analyst estimates of $229.64 million. IREN had a negative return on equity of 10.01% and a net margin of 56.59%.The company's revenue for the quarter was down 23.1% on a year-over-year basis. Equities analysts expect that IREN will post -0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On IREN

A number of institutional investors have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC grew its position in IREN by 65.1% during the first quarter. Apollon Wealth Management LLC now owns 26,621 shares of the company's stock valued at $913,000 after buying an additional 10,497 shares during the period. Pictet Asset Management Holding SA boosted its stake in IREN by 349.3% in the first quarter. Pictet Asset Management Holding SA now owns 127,835 shares of the company's stock valued at $4,379,000 after acquiring an additional 99,384 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in IREN in the first quarter valued at about $221,000. Kestra Private Wealth Services LLC grew its position in shares of IREN by 104.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 23,437 shares of the company's stock valued at $803,000 after acquiring an additional 11,987 shares during the period. Finally, RFG Advisory LLC purchased a new stake in shares of IREN during the 1st quarter worth approximately $204,000. 41.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. HC Wainwright upgraded shares of IREN from a "sell" rating to a "buy" rating and set a $80.00 price target for the company in a research note on Tuesday, January 13th. B. Riley Financial reaffirmed a "buy" rating on shares of IREN in a report on Friday, February 6th. Canaccord Genuity Group reiterated a "buy" rating and issued a $70.00 price objective on shares of IREN in a report on Tuesday, February 10th. Weiss Ratings raised shares of IREN from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, March 9th. Finally, Wall Street Zen downgraded shares of IREN from a "hold" rating to a "strong sell" rating in a research report on Saturday, February 7th. Thirteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $70.08.

About IREN

IREN Limited, formerly known as 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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