The 36-month beta value for IREN is at 3.03. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for IREN is 118.96M, and currently, shorts hold a 1.73% of that float. The average trading volume for IREN on April 15, 2024 was 9.97M shares.
IREN) stock’s latest price update
The stock price of Iris Energy Ltd (NASDAQ: IREN) has plunged by -6.44 when compared to previous closing price of 4.97, but the company has seen a -16.96% decline in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-04 that There are three penny stocks for the upcoming bull run that you should know about. My thesis for the rest of the year is the S&P 500 and the Nasdaq will shake off fears of a correction and repeat last year’s stellar performance.
IREN’s Market Performance
Iris Energy Ltd (IREN) has experienced a -16.96% fall in stock performance for the past week, with a -5.10% drop in the past month, and a -23.01% drop in the past quarter. The volatility ratio for the week is 10.94%, and the volatility levels for the past 30 days are at 11.69% for IREN. The simple moving average for the last 20 days is -12.46% for IREN stock, with a simple moving average of -7.53% for the last 200 days.
Analysts’ Opinion of IREN
Many brokerage firms have already submitted their reports for IREN stocks, with JP Morgan repeating the rating for IREN by listing it as a “Overweight.” The predicted price for IREN in the upcoming period, according to JP Morgan is $6.50 based on the research report published on October 11, 2023 of the previous year 2023.
Cantor Fitzgerald, on the other hand, stated in their research note that they expect to see IREN reach a price target of $7, previously predicting the price at $4. The rating they have provided for IREN stocks is “Overweight” according to the report published on May 12th, 2023.
B. Riley Securities gave a rating of “Buy” to IREN, setting the target price at $4 in the report published on April 06th of the previous year.
IREN Trading at -16.00% from the 50-Day Moving Average
After a stumble in the market that brought IREN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -52.01% of loss for the given period.
Volatility was left at 11.69%, however, over the last 30 days, the volatility rate increased by 10.94%, as shares surge +1.97% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +18.62% upper at present.
During the last 5 trading sessions, IREN fell by -16.96%, which changed the moving average for the period of 200-days by +3.79% in comparison to the 20-day moving average, which settled at $5.32. In addition, Iris Energy Ltd saw -34.97% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for IREN
Current profitability levels for the company are sitting at:
- -0.29 for the present operating margin
- 0.61 for the gross margin
The net margin for Iris Energy Ltd stands at -0.18. The total capital return value is set at -0.08.
Based on Iris Energy Ltd (IREN), the company’s capital structure generated 0.0 points at debt to capital in total, while cash flow to debt ratio is standing at 24.7. The debt to equity ratio resting at 0.0. The interest coverage ratio of the stock is -1077.61.
Currently, EBITDA for the company is -17.68 million with net debt to EBITDA at 12.32. When we switch over and look at the enterprise to sales, we see a ratio of 5.06. The receivables turnover for the company is 19.39for trailing twelve months and the total asset turnover is 0.26. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.38.
Conclusion
In conclusion, Iris Energy Ltd (IREN) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
