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

Iris Energy Limited (NASDAQ:IRENGet Free Report) was the recipient of some unusual options trading activity on Monday. Traders purchased 8,033 call options on the stock. This represents an increase of approximately 49% compared to the typical daily volume of 5,408 call options.

Iris Energy Trading Up 16.7 %

Iris Energy stock traded up $0.99 during mid-day trading on Monday, hitting $6.93. The company had a trading volume of 15,909,074 shares, compared to its average volume of 6,390,780. Iris Energy has a 12-month low of $1.80 and a 12-month high of $9.69. The company’s fifty day moving average is $5.64 and its 200-day moving average is $4.64.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Two Sigma Securities LLC purchased a new position in shares of Iris Energy during the 1st quarter valued at approximately $32,000. Toroso Investments LLC purchased a new position in shares of Iris Energy during the 3rd quarter valued at approximately $46,000. Tucker Asset Management LLC purchased a new position in Iris Energy in the 3rd quarter valued at $47,000. UBS Group AG lifted its holdings in Iris Energy by 25.7% in the 1st quarter. UBS Group AG now owns 15,957 shares of the company’s stock valued at $49,000 after purchasing an additional 3,259 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its holdings in Iris Energy by 42.7% in the 4th quarter. Penserra Capital Management LLC now owns 46,371 shares of the company’s stock valued at $57,000 after purchasing an additional 13,885 shares in the last quarter. Hedge funds and other institutional investors own 21.52% of the company’s stock.

Wall Street Analyst Weigh In

IREN has been the topic of several recent analyst reports. HC Wainwright cut their price objective on shares of Iris Energy from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, November 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Iris Energy in a report on Monday, December 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of Iris Energy from $9.00 to $9.50 and gave the stock an “overweight” rating in a report on Friday, December 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $11.58.

View Our Latest Stock Analysis on Iris Energy

About Iris Energy

(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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