IREN Sees Unusually High Options Volume (NASDAQ:IREN)

IREN Limited (NASDAQ:IREN) was the target of unusually large options trading on Friday. Traders purchased 402,544 put options on the company. This represents an increase of approximately 46% compared to the average daily volume of 275,687 put options.

IREN Stock Down 1.1%

NASDAQ:IREN opened at $47.21 on Friday. The firm has a 50-day simple moving average of $55.23 and a two-hundred day simple moving average of $47.60. IREN has a fifty-two week low of $13.09 and a fifty-two week high of $76.87. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72. The firm has a market cap of $16.87 billion, a P/E ratio of 98.35 and a beta of 4.22.

IREN (NASDAQ:IREN) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). IREN had a net margin of 20.90% and a negative return on equity of 13.13%. The firm had revenue of $144.79 million for the quarter, compared to the consensus estimate of $219.69 million. Analysts predict that IREN will post -1.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Invesco Ltd. lifted its holdings in shares of IREN by 45.9% during the second quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock valued at $43,341,000 after purchasing an additional 936,333 shares in the last quarter. StoneX Group Inc. bought a new stake in IREN in the 2nd quarter worth about $158,000. NewEdge Advisors LLC raised its position in IREN by 245.0% in the 2nd quarter. NewEdge Advisors LLC now owns 43,281 shares of the company’s stock worth $631,000 after buying an additional 30,736 shares during the last quarter. Sei Investments Co. purchased a new position in IREN in the 2nd quarter worth about $2,333,000. Finally, Peapack Gladstone Financial Corp lifted its stake in IREN by 30.0% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 18,200 shares of the company’s stock valued at $265,000 after acquiring an additional 4,200 shares during the period. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Key Stories Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN announced a multi-year sponsorship with the Golden State Warriors and Chase Center, including jersey patch branding. The deal was described in reports as one of the largest in North American sports, which could boost brand visibility and investor interest. Warriors, Chase Center announce new multi-year sponsorship with IREN Limited
• Positive Sentiment: Analyst coverage highlighted IREN’s contracted AI capacity and Blackwell GPU expansion as potential drivers of future revenue growth, suggesting the company may be able to monetize more of its AI infrastructure as deployments come online. Can IREN’s Contracted AI Capacity Support Future Revenue Growth?
• Neutral Sentiment: IREN is still being included in “top Bitcoin stocks” watchlists, reflecting continued interest in the company’s exposure to bitcoin and related infrastructure themes. Top Bitcoin Stocks To Follow Now – June 25th
• Neutral Sentiment: Local officials tabled a tax incentive for IREN’s planned 1.2 GW AI site in Oklahoma, creating some uncertainty around the project timeline and economics. Commissioners table tax incentive for IREN’s 1.2 GW AI site in Pittsburg County, Oklahoma
• Negative Sentiment: Unusual options activity showed a large surge in put buying, which often signals traders are positioning for downside or hedging against a pullback in IREN shares. Unusual options trading in IREN

Wall Street Analysts Forecast Growth

IREN has been the topic of a number of research reports. Cantor Fitzgerald boosted their target price on shares of IREN from $77.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. The Goldman Sachs Group set a $50.00 price target on shares of IREN in a research report on Wednesday, May 27th. JPMorgan Chase & Co. boosted their price objective on shares of IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a research note on Monday, May 11th. Jefferies Financial Group began coverage on shares of IREN in a report on Thursday, June 18th. They issued a “buy” rating and a $79.00 price objective on the stock. Finally, Weiss Ratings raised shares of IREN from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Fourteen research 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 data from MarketBeat, IREN currently has an average rating of “Moderate Buy” and a consensus price target of $82.36.

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.