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These Numbers Show Just How Powerful Iris Energy Ltd (NASDAQ: IREN) Stock ‎Is

Iris Energy Ltd (NASDAQ:IREN) price closed higher on Monday, February 12, jumping 16.67% above its previous close.

A look at the daily price movement shows that the last close reads $5.94. The company’s 5Y monthly beta was ticking 2.86. Taking into account the 52-week price action we note that the stock hit a 52-week high of $9.69 and 52-week low of $1.73. The stock added 14.74% on its value in the past month.

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Iris Energy Ltd, which has a market valuation of $460.98 million, is expected to release its quarterly earnings report Feb 15, 2024.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give IREN a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Buy, while an average of long term indicators are currently assigning the stock as 50% Buy.

The overview shows that IREN’s price is at present 59.27% off the SMA20 and 25.20% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 69.11, with weekly volatility standing at 12.79%. The indicator jumps to 10.11% when calculated based on the past 30 days. Iris Energy Ltd (NASDAQ:IREN)’s beta value is holding at 3.03, while the average true range (ATR) indicator is currently reading 0.62.

Turning out attention to how the Iris Energy Ltd stock has performed in comparison to its peers in the industry, here’s what we find: IREN’s stock is 16.67% on the day and 272.58% in the past 12 months, while Canaan Inc. ADR (CAN) traded 16.88%% in the last session and was positioned -33.45% down on its price 12 months ago. Turning out attention to how the Iris Energy Ltd stock has performed in comparison to its peers in the industry, here’s what we find: IREN’s stock is 16.67% on the day and 272.58% in the past 12 months, while Canaan Inc. ADR (CAN) traded 16.88%% in the last session and was positioned -33.45% down on its price 12 months ago. Another comparison is with Hut 8 Corp. (HUT) whose stock price was up 8.50%% in the last trading session, and has flourished 11.85% over the past year. Also, HIVE Digital Technologies Ltd. (HIVE) showed up trend of 6.93%% while its price kept floating at 27.81% over the past year.

An analysis of the Iris Energy Ltd (NASDAQ:IREN) stock in terms of its daily trading volume indicates that the 3-month average is 2.93. However, this figure increases on the past 10-day timeline to an average of 7.13 million.

Current records show that the company has 64.75M in outstanding shares. The insiders’ percentage holdings are 24.73% of outstanding shares while the percentage share held by institutions stands at 20.07%. The stats also highlight that short interest as of Jan 31, 2024, stood at 2.91 million shares, which puts the short ratio at the time at 0.5. From this we can glean that short interest is 4.33% of company’s current outstanding shares. Notably, we see that shares short in January fall slightly given the previous month’s figure stood at 3.78 million. But the -3.08% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.