In the last trading session, 1.0 million Iris Energy Ltd (NASDAQ:IREN) shares changed hands as the company’s beta touched 2.05. With the company’s per share price at $2.83 changed hands at -$0.02 or -0.70% during last session, the market valuation stood at $188.25M. IREN’s last price was a discount, traded about -184.81% off its 52-week high of $8.06. The share price had its 52-week low at $1.02, which suggests the last value was 63.96% up since then. When we look at Iris Energy Ltd’s average trading volume, we note the 10-day average is 1.51 million shares, with the 3-month average coming to 1.55 million.
Analysts gave the Iris Energy Ltd (IREN) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 7 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended IREN as a Hold, 7 felt it is a Buy and 0 rated the stock as Underweight. Iris Energy Ltd’s EPS for the current quarter is expected to be -$0.25.
Iris Energy Ltd (NASDAQ:IREN) trade information
Instantly IREN was in red as seen at the end of in last trading. With action -4.39%, the performance over the past five days has been red. The drop to weekly highs of 3.18 on Friday, 11/17/23 subtracted -0.70% to the stock’s daily price. The company’s shares are showing year-to-date upside of 126.40%, with the 5-day performance at -4.39% in the red. However, in the 30-day time frame, Iris Energy Ltd (NASDAQ:IREN) is -8.71% down. Looking at the short shares, we see there were 1.6 million shares sold at short interest cover period of 0.82 days.
The consensus price target for the stock as assigned by Wall Street analysts is $9.50, meaning bulls need an upside of 70.21% from its current market value. According to analyst projections, IREN’s forecast low is $7.50 with $14.00 as the target high. To hit the forecast high, the stock’s price needs a -394.7% plunge from its current level, while the stock would need to soar -165.02% for it to hit the projected low.
Iris Energy Ltd (IREN) estimates and forecasts
Data shows that the Iris Energy Ltd share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -28.35% over the past 6 months, a 104.46% in annual growth rate that is considerably higher than the industry average of -3.80%. Year-over-year growth is forecast to reach 27.90% up from the last financial year.
The company’s revenue for the corresponding quarters a year ago was $15.18 million and $13.47 million respectively.
The 2023 estimates are for Iris Energy Ltd earnings to increase by 98.31%.
Iris Energy Ltd is expected to release its next quarterly earnings report between February 15 and February 16.