Iris Energy Limited (NASDAQ:IREN - Get Free Report) was the recipient of some unusual options trading activity on Thursday. Stock traders acquired 92,394 call options on the company. This is an increase of 60% compared to the typical daily volume of 57,695 call options.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in shares of Iris Energy by 56.3% in the third quarter. Geode Capital Management LLC now owns 735,071 shares of the company's stock valued at $6,204,000 after acquiring an additional 264,883 shares during the period. Sender Co & Partners Inc. bought a new position in Iris Energy in the 3rd quarter worth about $561,000. Continuum Advisory LLC bought a new position in shares of Iris Energy in the third quarter worth approximately $430,000. Y Intercept Hong Kong Ltd raised its stake in Iris Energy by 592.2% in the third quarter. Y Intercept Hong Kong Ltd now owns 206,706 shares of the company's stock valued at $1,745,000 after purchasing an additional 176,843 shares in the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in Iris Energy during the third quarter valued at approximately $760,000. 41.08% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Needham & Company LLC restated a "hold" rating on shares of Iris Energy in a research note on Wednesday, November 27th. Cantor Fitzgerald raised their price target on shares of Iris Energy from $20.00 to $23.00 and gave the company an "overweight" rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $15.00 price objective (up from $9.50) on shares of Iris Energy in a research report on Tuesday, December 10th. Canaccord Genuity Group increased their price objective on shares of Iris Energy from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Finally, B. Riley boosted their target price on Iris Energy from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.00.
View Our Latest Research Report on Iris Energy
Iris Energy Trading Down 5.9 %
Iris Energy stock traded down $0.72 during midday trading on Thursday, reaching $11.41. The stock had a trading volume of 15,012,885 shares, compared to its average volume of 13,824,324. Iris Energy has a 12 month low of $3.56 and a 12 month high of $15.92. The firm's 50-day moving average price is $11.01 and its 200 day moving average price is $10.19.
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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