Iris Energy Ltd (NASDAQ:IREN) traded at $10.78 at close of the session on current trade day and made an upward move of 10.91% on its previous day’s price.
Looking at the stock we see that its previous close was $9.72 and the beta (5Y monthly) reads 3.399 with the day’s price range being $9.55 – $11.0. In terms of its 52-week price range, IREN has a high of $15.75 and a low of $2.84. The company’s stock has gained about 16.67% over that past 30 days.
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Iris Energy Ltd has a market cap of $2.25 billion and is expected to release its quarterly earnings report in December. Estimates by analysts give the company expected earnings per share (EPS) of -0.07, with the EPS growth for the year raised at 0.44 for current year and 0.44 for next year.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at 54.75M, with a low of 47M and a high of 63.48M. According to analyst consensus estimates figures, the company’s yearly revenue forecast for current year is expected to hit 462.78M, or 145.17% up from figures reported last year.
On the other hand, looking at the outlook for the IREN stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy.
Based on estimates by 7 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 1 have rated the Iris Energy Ltd (IREN) stock as a Hold, while 6 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note the current price level is 3.20% off its SMA20 and 16.69% from its 50-day simple moving average. The RSI (14) is pointing at 54.60 while the volatility over the past week is 12.05% and jumps to 10.45% over the past one month. The beta value is 3.36, while the average true range (ATR) is currently pointing at 1.08. The average price target for the stock over the next 12 months is $13.75, with the estimates having a low of $6 and a high of $23. These price ends are 44.34% and -113.36% off the current price level respectively, although investors could be excited at the prospect of a -27.55% if the IREN share price touches on the median price of $13.75.
Coming back to Iris Energy Ltd (NASDAQ:IREN), we note that the average 3-month trading volume was 15.96 million, while that of the preceding 10-day period stands at 19.21 million. Current shares outstanding are 186.37 million.
The insiders hold 8.42% of the company’s shares while institutions hold 29.18%. The data shows that short shares as of 2024-10-31, stood at 9.94 million at a short ratio of 0.61. This represents a 554.00 short interest in shares outstanding on 2024-10-31. Shares short rose in October from the previous month at 9.3 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 50.77% up in year-to-date price movement.
