The stock of Iris Energy Ltd (IREN) has gone down by -4.05% for the week, with a 77.64% rise in the past month and a 132.65% rise in the past quarter. The volatility ratio for the week is 10.68%, and the volatility levels for the past 30 days are 12.58% for IREN. The simple moving average for the past 20 days is 27.83% for IREN’s stock, with a 143.34% simple moving average for the past 200 days.
Is It Worth Investing in Iris Energy Ltd (NASDAQ: IREN) Right Now?
Additionally, the 36-month beta value for IREN is 3.61. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for IREN is 128.91M and currently, short sellers hold a 2.18% ratio of that float. The average trading volume of IREN on June 21, 2024 was 12.80M shares.
IREN) stock’s latest price update
Iris Energy Ltd (NASDAQ: IREN)’s stock price has dropped by -5.43 in relation to previous closing price of 13.90. Nevertheless, the company has seen a loss of -4.05% in its stock price over the last five trading days. globenewswire.com reported 2024-06-06 that SYDNEY, June 06, 2024 (GLOBE NEWSWIRE) — IREN (NASDAQ: IREN) (together with its subsidiaries, “IREN” or “the Company”), a leading next-generation data center business powering the future of Bitcoin, AI and beyond, today published a monthly investor update for May 2024.
Analysts’ Opinion of IREN
Many brokerage firms have already submitted their reports for IREN stocks, with Cantor Fitzgerald repeating the rating for IREN by listing it as a “Overweight.” The predicted price for IREN in the upcoming period, according to Cantor Fitzgerald is $23 based on the research report published on June 11, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see IREN reach a price target of $6.50, previously predicting the price at $6. The rating they have provided for IREN stocks is “Overweight” according to the report published on October 11th, 2023.
Cantor Fitzgerald gave a rating of “Overweight” to IREN, setting the target price at $7 in the report published on May 12th of the previous year.
IREN Trading at 83.50% 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 -12.07% of loss for the given period.
Volatility was left at 12.58%, however, over the last 30 days, the volatility rate increased by 10.68%, as shares surge +67.72% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +165.61% upper at present.
During the last 5 trading sessions, IREN fell by -5.00%, which changed the moving average for the period of 200-days by +195.12% in comparison to the 20-day moving average, which settled at $10.55. In addition, Iris Energy Ltd saw 83.85% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for IREN
Current profitability levels for the company are sitting at:
- -0.07 for the present operating margin
- 0.52 for the gross margin
The net margin for Iris Energy Ltd stands at -0.05. The total capital return value is set at -0.02.
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 31.58. The debt to equity ratio resting at 0.0. The interest coverage ratio of the stock is 16.13.
Currently, EBITDA for the company is -17.68 million with net debt to EBITDA at -17.36. When we switch over and look at the enterprise to sales, we see a ratio of 9.65. The receivables turnover for the company is 4.7for trailing twelve months and the total asset turnover is 0.23. The liquidity ratio also appears to be rather interesting for investors as it stands at 7.47.
Conclusion
In conclusion, Iris Energy Ltd (IREN) has seen better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
