IREN has 36-month beta value of 3.43. Analysts have mixed views on the stock, with 6 analysts rating it as a “buy,” 2 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for IREN is 172.03M, and currently, short sellers hold a 4.32% ratio of that float. The average trading volume of IREN on October 01, 2024 was 15.49M shares.
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IREN) stock’s latest price update
The stock price of Iris Energy Ltd (NASDAQ: IREN) has plunged by -4.63 when compared to previous closing price of 8.85, but the company has seen a 6.43% gain in its stock price over the last five trading sessions. prnewswire.com reported 2024-09-30 that NEW YORK, Sept. 30, 2024 /PRNewswire/ — Why: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Iris Energy Limited (NASDAQ: IREN) resulting from allegations that IREN may have issued materially misleading business information to the investing public.
IREN’s Market Performance
Iris Energy Ltd (IREN) has seen a 6.43% rise in stock performance for the week, with a -0.94% decline in the past month and a -33.12% plunge in the past quarter. The volatility ratio for the week is 8.44%, and the volatility levels for the past 30 days are at 8.64% for IREN. The simple moving average for the last 20 days is 9.41% for IREN stock, with a simple moving average of 14.56% for the last 200 days.
Analysts’ Opinion of IREN
Bernstein, on the other hand, stated in their research note that they expect to see IREN reach a price target of $26. The rating they have provided for IREN stocks is “Outperform” according to the report published on July 10th, 2024.
Cantor Fitzgerald gave a rating of “Overweight” to IREN, setting the target price at $23 in the report published on June 11th of the current year.
IREN Trading at 2.01% 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 -46.41% of loss for the given period.
Volatility was left at 8.64%, however, over the last 30 days, the volatility rate increased by 8.44%, as shares surge +6.70% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -25.31% lower at present.
During the last 5 trading sessions, IREN rose by +6.43%, which changed the moving average for the period of 200-days by +63.88% in comparison to the 20-day moving average, which settled at $7.74. In addition, Iris Energy Ltd saw 18.04% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at IREN starting from Christopher Guzowski, who proposed sale 28,970 shares at the price of $7.73 back on Sep 17 ’24. After this action, Christopher Guzowski now owns shares of Iris Energy Ltd, valued at $223,938 using the latest closing price.
Stock Fundamentals for IREN
Current profitability levels for the company are sitting at:
- -0.13 for the present operating margin
- 0.25 for the gross margin
The net margin for Iris Energy Ltd stands at -0.15. 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 32.07. The debt to equity ratio resting at 0.0. The interest coverage ratio of the stock is -112.28.
Currently, EBITDA for the company is 21.93 million with net debt to EBITDA at -15.48. When we switch over and look at the enterprise to sales, we see a ratio of 6.18. The receivables turnover for the company is 6.51for trailing twelve months and the total asset turnover is 0.17. The liquidity ratio also appears to be rather interesting for investors as it stands at 8.87.
Conclusion
To put it simply, Iris Energy Ltd (IREN) has had a mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating 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.
