Iris Energy Ltd (NASDAQ: IREN) has experienced a rise in its stock price by 5.05 compared to its previous closing price of 7.33. However, the company has seen a fall of -11.29% in its stock price over the last five trading days. accesswire.com reported 2024-10-11 that NEW YORK, NY / ACCESSWIRE / October 11, 2024 / If you suffered a loss on your Iris Energy Limited (NASDAQ:IREN) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: https://zlk.com/pslra-1/iris-energy-lawsuit-submission-form?prid=107919&wire=1 or contact Joseph E. Levi, Esq.
Is It Worth Investing in Iris Energy Ltd (NASDAQ: IREN) Right Now?
The 36-month beta value for IREN is also noteworthy at 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.”
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The public float for IREN is 172.03M, and at present, short sellers hold a 5.41% of that float. The average trading volume of IREN on October 11, 2024 was 14.80M shares.
IREN’s Market Performance
The stock of Iris Energy Ltd (IREN) has seen a -11.29% decrease in the past week, with a 4.19% rise in the past month, and a -35.81% fall in the past quarter. The volatility ratio for the week is 7.54%, and the volatility levels for the past 30 days are at 7.88% for IREN. The simple moving average for the past 20 days is -4.84% for IREN’s stock, with a 3.50% simple moving average for the past 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 -1.71% 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 -51.11% of loss for the given period.
Volatility was left at 7.88%, however, over the last 30 days, the volatility rate increased by 7.54%, as shares surge +0.79% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -17.98% lower at present.
During the last 5 trading sessions, IREN fell by -12.21%, which changed the moving average for the period of 200-days by -13.31% in comparison to the 20-day moving average, which settled at $8.09. In addition, Iris Energy Ltd saw 7.69% 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 5.38. 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 summary, Iris Energy Ltd (IREN) has had a mixed performance as of late. Analysts have bullish opinions on the stock, with some viewing 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.
