Iris Energy Ltd (NASDAQ:IREN) price closed higher on Tuesday, March 26, jumping 1.97% above its previous close.
A look at the daily price movement shows that the last close reads $5.58. The company’s 5Y monthly beta was ticking 3.08. 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 $2.61. The stock subtracted -17.66% on its value in the past month.
Iris Energy Ltd, which has a market valuation of $625.33 million, is expected to release its quarterly earnings report Feb 15, 2024.
Staying with the analyst view, there is a consensus estimate of $75.51 million for the company’s annual revenue in 2023. Per this projection, the revenue is forecast to grow 27.90% above that which the company brought in 2023.
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 1 upward and no downward reviews. On the technical perspective front, indicators give IREN a short term outlook of 75% Buy 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 100% Buy.
The overview shows that IREN’s price is at present 6.62% off the SMA20 and 7.90% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 53.40, with weekly volatility standing at 13.81%. The indicator jumps to 10.94% when calculated based on the past 30 days. Iris Energy Ltd (NASDAQ:IREN)’s beta value is holding at 3.05, while the average true range (ATR) indicator is currently reading 0.62.
An analysis of the Iris Energy Ltd (NASDAQ:IREN) stock in terms of its daily trading volume indicates that the 3-month average is 8.59 million. However, this figure increases on the past 10-day timeline to an average of 9.76 million.
Current records show that the company has 109.90M in outstanding shares. The insiders’ percentage holdings are 15.32% of outstanding shares while the percentage share held by institutions stands at 16.91%. The stats also highlight that short interest as of Feb 29, 2024, stood at 2.46 million shares, which puts the short ratio at the time at 0.24. From this we can glean that short interest is 2.37% of company’s current outstanding shares. Notably, we see that shares short in February fall slightly given the previous month’s figure stood at 2.91 million. But the -20.42% 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.
