IronNet Inc. (NYSE:IRNT) shares, rose in value on Thursday, 05/25/23, with the stock price down by -14.15% to the previous day’s close as strong demand from buyers drove the stock to $0.20.
Actively observing the price movement in the last trading, the stock closed the session at $0.23, falling within a range of $0.195 and $0.2131. The value of beta (5-year monthly) was 1.26. Referring to stock’s 52-week performance, its high was $3.38, and the low was $0.19. On the whole, IRNT has fluctuated by -25.68% over the past month.
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With the market capitalization of IronNet Inc. currently standing at about $26.33 million, investors are eagerly awaiting this quarter’s results, scheduled for Jun 12, 2023 – Jun 16, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0, which is expected to increase to -$0.17 for fiscal year -$0.75 and then to about -$0.5 by fiscal year 2024. Data indicates that the EPS growth is expected to be 16.70% in 2024, while the next year’s EPS growth is forecast to be 33.30%.
Analysts have estimated the company’s revenue for the quarter at $6.33 million, with a low estimate of $6.2 million and a high estimate of $6.48 million. According to the average forecast, sales growth in current quarter could jump down -8.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $25.7 million, representing a decrease of -6.70% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that IRNT’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of IRNT currently trading nearly -28.72% and -34.53% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 33.66, while the 7-day volatility ratio is showing 17.04% which for the 30-day chart, stands at 12.96%. Furthermore, IronNet Inc. (IRNT)’s average true range (ATR) is 0.03.
Data on historical trading for IronNet Inc. (NYSE:IRNT) indicates that the trading volumes over the past 10 days have averaged 1.24 million and over the past 3 months, they’ve averaged 652.00K. According to company’s latest data on outstanding shares, there are 111.78 million shares outstanding.
Nearly 12.40% of IronNet Inc.’s shares belong to company insiders and institutional investors own 29.40% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 6.78 million shares as on May 14, 2023, resulting in a short ratio of 15.81. According to the data, the short interest in IronNet Inc. (IRNT) stood at 6.07% of shares outstanding as of May 14, 2023; the number of short shares registered in Apr 13, 2023 reached 6.86 million. The stock has fallen by -14.57% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the IRNT stock heading into the next quarter.