The trading price of Iris Energy Ltd (NASDAQ:IREN) closed lower on Monday, March 11, closing at $5.08, -5.05% lower than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $9.69 and a 52-week low of $2.21. Over the past month, the stock has lost -0.39% in value.
Iris Energy Ltd, whose market valuation is $328.93 million at the time of this writing, is expected to release its quarterly earnings report Feb 15, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0 per share this quarter, however they have predicted annual earnings per share of $0 for 2023 and -$0.05 for 2024.
From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2023 is $75.51 million. The company’s revenue is forecast to grow by 27.90% over what it did in 2023.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Iris Energy Ltd 1 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest IREN has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
A quick review shows that IREN’s price is currently -20.30% off the SMA20 and -10.90% off the SMA50. The RSI metric on the 14-day chart is currently showing 42.52, and weekly volatility stands at 10.63%. When measured over the past 30 days, the indicator reaches 12.16%. Iris Energy Ltd (NASDAQ:IREN)’s beta value is currently sitting at 3.07, while the Average True Range indicator is currently displaying 0.69.
To see how Iris Energy Ltd stock has been performing in comparison to its peers in the industry, here are the numbers: IREN stock’s performance was -5.05% in the latest trading, and 112.55% in the past year.
An evaluation of the daily trading volume of Iris Energy Ltd (NASDAQ:IREN) indicates that the 3-month average is 8.05 million. However, this figure has increased over the past 10 days to an average of 10.71 million.
Currently, records show that 64.75 million of the company’s shares remain outstanding. The insiders hold 23.27% of outstanding shares, whereas institutions hold 28.69%. The stats also highlight that short interest as of Feb 15, 2024, stood at 3.57 million shares, resulting in a short ratio of 0.44 at that time. From this, we can conclude that short interest is 3.43% of the company’s total outstanding shares. It is noteworthy that short shares in February were up slightly from the previous month’s figure, which was 2.89 million. However, since the stock’s price has seen -28.95% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
