Iris Energy Ltd (NASDAQ:IREN) traded at $4.61 at close of the session on Monday, March 18, made an upward move of 0.22% on its previous day’s price.
Looking at the stock we see that its previous close was $4.60 and the beta (5Y monthly) reads 3.08 . In terms of its 52-week price range, IREN has a high of $9.69 and a low of $2.61. The company’s stock has lost about -40.44% over that past 30 days.
Iris Energy Ltd has a market cap of $298.50 million and is expected to release its quarterly earnings report on Feb 15, 2024.
According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2023 is expected to hit $75.51 million, or 27.90% up from figures reported last year.
There have been 1 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the IREN stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of 50% Sell.
Looking further, we note the current price level is -20.32% off its SMA20 and -14.80% from its 50-day simple moving average. The RSI (14) is pointing at 38.37 while the volatility over the past week is 7.34% and jumps to 10.50% over the past one month. The beta value is 3.08, while the average true range (ATR) is currently pointing at 0.58.
Coming back to Iris Energy Ltd (NASDAQ:IREN), we note that the average 3-month trading volume was 8.41 million, while that of the preceding 10-day period stands at 8.45 million. Current shares outstanding are 64.75 million.
The insiders hold 15.32% of the company’s shares while institutions hold 28.69%. The data shows that short shares as of Feb 29, 2024, stood at 2.46 million at a short ratio of 0.24. This represents a 2.37% short interest in shares outstanding on Feb 29, 2024. Shares short fall in February from the previous month at 2.91 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -35.52% down in year-to-date price movement.
