IREN Ltd (NASDAQ:IREN) shares, rose in value on Wednesday, December 11, with the stock price up by 1.87% to the previous day’s close as strong demand from buyers drove the stock to $13.61.
Actively observing the price movement in the last trading, the stock closed the session at $13.36, falling within a range of $13.255 and $14.15. The value of beta (5-year monthly) was 3.399. Referring to stock’s 52-week performance, its high was $15.92, and the low was $3.56. On the whole, IREN has fluctuated by 6.75% over the past month.
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With the market capitalization of IREN Ltd currently standing at about $2.66 billion, investors are eagerly awaiting this quarter’s results, scheduled for in January.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 542.46M, with a low estimate of 106.4M and a high estimate of 176M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 123.23M.
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 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy 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 13.48% and 30.85% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 58.00, while the 7-day volatility ratio is showing 10.49% which for the 30-day chart, stands at 11.55%. Furthermore, IREN Ltd (IREN)’s beta value is 3.55, and its average true range (ATR) is 1.33.
A comparison of IREN Ltd (IREN) with its peers suggests the former has fared considerably weaker in the market. IREN showed an intraday change of 1.87% in last session, and over the past year, it grew by 171.66%%.
Data on historical trading for IREN Ltd (NASDAQ:IREN) indicates that the trading volumes over the past 10 days have averaged 23.52 and over the past 3 months, they’ve averaged 17.51 million. According to company’s latest data on outstanding shares, there are 197.13 million shares outstanding.
Nearly 8.42% of IREN Ltd’s shares belong to company insiders and institutional investors own 29.07% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 10.16 million shares as on 2024-11-15, resulting in a short ratio of 0.54. According to the data, the short interest in IREN Ltd (IREN) stood at 566.00 of shares outstanding as of 2024-11-15; the number of short shares registered in 2024-10-15 reached 10.7 million. The stock has risen by 90.35% 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.
