Iris Energy Ltd (NASDAQ:IREN) shares, rose in value, with the stock price down by -2.18% to the previous day’s close as strong demand from buyers drove the stock to $10.32.
Actively observing the price movement in the last trading, the stock closed the session at $10.55, falling within a range of $10.0 and $10.84. The value of beta (5-year monthly) was 3.42. Referring to stock’s 52-week performance, its high was $15.75, and the low was $2.79. On the whole, IREN has fluctuated by 33.51% over the past month.
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With the market capitalization of Iris Energy Ltd currently standing at about $1.94 billion, investors are eagerly awaiting this quarter’s results, scheduled for in November.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 460.04M, with a low estimate of 47M and a high estimate of 67.9M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 57.8M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that IREN’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of IREN currently trading nearly 15.70% and 24.65% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 61.21, while the 7-day volatility ratio is showing 9.08% which for the 30-day chart, stands at 7.76%. Furthermore, Iris Energy Ltd (IREN)’s beta value is 3.43, and its average true range (ATR) is 0.78.
A comparison of Iris Energy Ltd (IREN) with its peers suggests the former has fared considerably weaker in the market. IREN showed an intraday change of -2.18% in last session, and over the past year, it grew by 242.86%%.
Data on historical trading for Iris Energy Ltd (NASDAQ:IREN) indicates that the trading volumes over the past 10 days have averaged 19.11 and over the past 3 months, they’ve averaged 14.49 million. According to company’s latest data on outstanding shares, there are 186.37 million shares outstanding.
Nearly 8.42% of Iris Energy Ltd’s shares belong to company insiders and institutional investors own 42.85% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 10.7 million shares as on 2024-10-15, resulting in a short ratio of 0.75. According to the data, the short interest in Iris Energy Ltd (IREN) stood at 596.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 7.44 million. The stock has risen by 44.34% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the IREN stock heading into the next quarter.
