Iris Energy Ltd (NASDAQ: IREN)’s stock price has gone decline by -5.05 in comparison to its previous close of 8.52, however, the company has experienced a -6.15% decrease in its stock price over the last five trading days. accesswire.com reported 2024-08-30 that LOS ANGELES, CA / ACCESSWIRE / August 30, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Iris Energy Limited (“Iris” or “the Company”) (NASDAQ:IREN) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
Is It Worth Investing in Iris Energy Ltd (NASDAQ: IREN) Right Now?
The stock has a 36-month beta value of 3.46. Opinions on the stock are mixed, with 6 analysts rating it as a “buy,” 2 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for IREN is 169.11M, and at present, short sellers hold a 4.09% of that float. On August 30, 2024, the average trading volume of IREN was 17.35M shares.
IREN’s Market Performance
IREN’s stock has seen a -6.15% decrease for the week, with a -12.92% drop in the past month and a 3.85% gain in the past quarter. The volatility ratio for the week is 8.25%, and the volatility levels for the past 30 days are at 10.60% for Iris Energy Ltd The simple moving average for the past 20 days is 2.41% for IREN’s stock, with a 15.34% simple moving average for the past 200 days.
Analysts’ Opinion of IREN
Many brokerage firms have already submitted their reports for IREN stocks, with Bernstein repeating the rating for IREN by listing it as a “Outperform.” The predicted price for IREN in the upcoming period, according to Bernstein is $26 based on the research report published on July 10, 2024 of the current year 2024.
Cantor Fitzgerald, on the other hand, stated in their research note that they expect to see IREN reach a price target of $23. The rating they have provided for IREN stocks is “Overweight” according to the report published on June 11th, 2024.
JP Morgan gave a rating of “Overweight” to IREN, setting the target price at $6.50 in the report published on October 11th of the previous year.
IREN Trading at -21.25% 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 -48.63% of loss for the given period.
Volatility was left at 10.60%, however, over the last 30 days, the volatility rate increased by 8.25%, as shares sank -5.63% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -41.47% lower at present.
During the last 5 trading sessions, IREN fell by -5.63%, which changed the moving average for the period of 200-days by +172.07% in comparison to the 20-day moving average, which settled at $7.88. In addition, Iris Energy Ltd saw 13.15% 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 7.29. 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
To sum up, Iris Energy Ltd (IREN) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as 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.
