Iris Energy Ltd (NASDAQ:IREN) shares, rose in value, with the stock price down by -1.52% to the previous day’s close as strong demand from buyers drove the stock to $5.17.
Actively observing the price movement in the last trading, the stock closed the session at $5.25. The value of beta (5-year monthly) was 3.02. Referring to stock’s 52-week performance, its high was $9.69, and the low was $2.79. On the whole, IREN has fluctuated by -9.14% over the past month.
With the market capitalization of Iris Energy Ltd currently standing at about $719.35 million, investors are eagerly awaiting this quarter’s results, scheduled for Feb 15, 2024.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that IREN’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of IREN currently trading nearly -0.71% and -7.53% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.82, while the 7-day volatility ratio is showing 9.10% which for the 30-day chart, stands at 10.87%. Furthermore, Iris Energy Ltd (IREN)’s beta value is 2.98, and its average true range (ATR) is 0.53.
A comparison of Iris Energy Ltd (IREN) with its peers suggests the former has fared considerably weaker in the market. IREN showed an intraday change of -1.52% in last session, and over the past year, it grew by 29.90%%.
Data on historical trading for Iris Energy Ltd (NASDAQ:IREN) indicates that the trading volumes over the past 3 months, they’ve averaged 10.24 million. According to company’s latest data on outstanding shares, there are 139.14 million shares outstanding.
Nearly 14.50% of Iris Energy Ltd’s shares belong to company insiders and institutional investors own 13.34% of the company’s shares. The stock has fallen by -27.69% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the IREN stock heading into the next quarter.
