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

Iris Energy Limited (NASDAQ:IREN) saw some unusual options trading activity on Friday. Stock investors acquired 107,452 call options on the company. This is an increase of 48% compared to the typical volume of 72,615 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. HM Payson & Co. bought a new stake in shares of Iris Energy during the fourth quarter valued at approximately $30,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Iris Energy by 96.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 710,890 shares of the company’s stock valued at $6,981,000 after acquiring an additional 348,864 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd bought a new position in Iris Energy in the fourth quarter valued at about $550,000. SRN Advisors LLC bought a new stake in shares of Iris Energy during the 4th quarter valued at $982,000. Finally, World Equity Group Inc. purchased a new stake in Iris Energy in the 4th quarter worth approximately $98,000. Institutional investors own 41.08% of the company’s stock.

Analysts Set New Price Targets

IREN has been the topic of a number of research analyst reports. HC Wainwright boosted their price objective on shares of Iris Energy from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Macquarie lifted their price target on shares of Iris Energy from $13.50 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $15.00 target price (up previously from $9.50) on shares of Iris Energy in a research report on Tuesday, December 10th. BTIG Research began coverage on Iris Energy in a research report on Friday, December 20th. They issued a “buy” rating and a $33.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Iris Energy in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Iris Energy presently has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Iris Energy Stock Up 7.5 %

NASDAQ:IREN traded up $0.87 during trading on Friday, reaching $12.46. The company’s stock had a trading volume of 17,244,981 shares, compared to its average volume of 17,069,189. Iris Energy has a 12 month low of $4.15 and a 12 month high of $15.92. The firm has a 50 day moving average of $11.77 and a 200-day moving average of $9.88.

Iris Energy (NASDAQ:IREN) last issued its earnings results on Tuesday, November 26th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.11). Iris Energy had a negative return on equity of 8.01% and a negative net margin of 36.10%. Analysts forecast that Iris Energy will post 0.11 earnings per share for the current year.

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.