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A Look At Iris Energy Limited (NASDAQ: IREN): How Much Is It Worth And How Should It Be Assessed?

Iris Energy Limited (NASDAQ:IREN)’s traded shares stood at 1.55 million during the last session. At the close of trading, the stock’s price was $2.98. The IREN share’s 52-week high remains $16.09, putting it -439.93% down since that peak but still an impressive 65.77% since price per share fell to its 52-week low of $1.02. The company has a valuation of $152.37M, with an average of 0.87 million shares in intraday trading volume over the past 10 days and average of 785.45K shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for Iris Energy Limited (IREN), translating to a mean rating of 2.00. Of 6 analyst(s) looking at the stock, 0 analyst(s) give IREN a Sell rating. 0 of those analysts rate the stock as Overweight while 2 advise Hold as 4 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.13.

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Iris Energy Limited (NASDAQ:IREN) trade information

Iris Energy Limited (IREN) has traded red over the past five days. The stock hit a weekly high of 3.25 this Friday, 03/17/23. The 5-day price performance for the stock is 15.95%, and -30.29% over 30 days. With these gigs, the year-to-date price performance is 138.40%. Short interest in Iris Energy Limited (NASDAQ:IREN) saw shorts transact 1.06 million shares and set a 3.4 days time to cover.

Analysts on Wall Street suggest a consensus price target of $6.90, implying an increase of 56.81% to the stock’s current value. The extremes give us $4.00 and $8.00 for target low and target high price respectively. As such, IREN has been trading -168.46% off suggested target high and -34.23% from its likely low.

Iris Energy Limited (IREN) estimates and forecasts

Looking at statistics comparing Iris Energy Limited share performance against respective industry, we note that the company has outperformed competitors. Iris Energy Limited (IREN) shares are -33.63% down over the last 6 months, with its year-to-date growth rate higher than industry average at 97.76% against -2.60%. The rating firms project that company’s revenue will grow 48.60% compared to the previous financial year.

Revenue forecast for the current quarter as set by 7 analysts is $16.63 million. Meanwhile, for the quarter ending Dec 2022, a total of 5 analyst(s) estimate revenue growth to $24.38 million.

IREN Dividends

Iris Energy Limited has its next earnings report out between May 09 and May 15. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Iris Energy Limited has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Iris Energy Limited (NASDAQ:IREN)’s Major holders

Iris Energy Limited insiders hold 23.97% of total outstanding shares, with institutional holders owning 23.93% of the shares at 31.48% float percentage. In total, 23.93% institutions holds shares in the company, led by Regal Partners Ltd. As of Sep 29, 2022, the company held over 3.29 million shares (or 5.98% of shares), all amounting to roughly $13.58 million.

The next major institution holding the largest number of shares is Platinum Investment Management Ltd with 2.77 million shares, or about 5.05% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $11.46 million.

We also have VanEck ETF Trust-VanEck Digital Transformation ETF and Exchange Traded Concepts Tr-Bitwise Crypto Industry Innovators ETF as the top two Mutual Funds with the largest holdings of the Iris Energy Limited (IREN) shares. Going by data provided on Dec 30, 2022, VanEck ETF Trust-VanEck Digital Transformation ETF holds roughly 0.61 million shares. This is just over 1.11% of the total shares, with a market valuation of $0.76 million. Data from the same date shows that the other fund manager holds a little less at 0.45 million, or 0.81% of the shares, all valued at about 1.84 million.

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