Additionally, the 36-month beta value for IREN is 3.43. There are mixed opinions on the stock, with 6 analysts rating it as a “buy,” 2 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it 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 07, 2024 was 15.24M shares.
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IREN) stock’s latest price update
Iris Energy Ltd (NASDAQ: IREN)’s stock price has increased by 10.71 compared to its previous closing price of 7.84. However, the company has seen a -1.92% decrease in its stock price over the last five trading sessions. globenewswire.com reported 2024-10-04 that SYDNEY, Oct. 04, 2024 (GLOBE NEWSWIRE) — IREN (NASDAQ: IREN) (together with its subsidiaries, “IREN” or “the Company”), today published its monthly investor update for September 2024.
IREN’s Market Performance
IREN’s stock has fallen by -1.92% in the past week, with a monthly rise of 28.21% and a quarterly drop of -40.67%. The volatility ratio for the week is 7.34% while the volatility levels for the last 30 days are 8.43% for Iris Energy Ltd The simple moving average for the last 20 days is 10.02% for IREN stock, with a simple moving average of 17.11% for the last 200 days.
Analysts’ Opinion of IREN
Many brokerage firms have already submitted their reports for IREN stocks, with ROTH MKM repeating the rating for IREN by listing it as a “Buy.” The predicted price for IREN in the upcoming period, according to ROTH MKM is $14 based on the research report published on October 02, 2024 of the current year 2024.
Bernstein gave a rating of “Outperform” to IREN, setting the target price at $26 in the report published on July 10th of the current year.
IREN Trading at 8.09% 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 -44.89% of loss for the given period.
Volatility was left at 8.43%, however, over the last 30 days, the volatility rate increased by 7.34%, as shares surge +34.78% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -7.95% lower at present.
During the last 5 trading sessions, IREN fell by -1.92%, which changed the moving average for the period of 200-days by +44.67% in comparison to the 20-day moving average, which settled at $8.00. In addition, Iris Energy Ltd saw 21.40% 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 6.42. 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
In conclusion, Iris Energy Ltd (IREN) has seen mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it 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.
