Iris Energy Ltd (NASDAQ: IREN) Is Rated A Buy By Analysts.

In the last trading session, 14.63 million Iris Energy Ltd (NASDAQ:IREN) shares changed hands as the company’s beta touched 3.03. With the company’s per share price at $5.94 changed hands at $0.84 or 16.47% during last session, the market valuation stood at $395.13M. IREN’s last price was a discount, traded about -63.13% off its 52-week high of $9.69. The share price had its 52-week low at $1.73, which suggests the last value was 70.88% up since then. When we look at Iris Energy Ltd’s average trading volume, we note the 10-day average is 7.13 million shares, with the 3-month average coming to 2.77.

Iris Energy Ltd (NASDAQ:IREN) trade information

Instantly IREN was in green as seen at the end of in last trading. With action 56.73%, the performance over the past five days has been green. The jump to weekly highs of 6.05 added 16.47% to the stock’s daily price. The company’s shares are showing year-to-date downside of -16.92%, with the 5-day performance at 56.73% in the green. However, in the 30-day time frame, Iris Energy Ltd (NASDAQ:IREN) is -7.91% down. Looking at the short shares, we see there were 2.91 million shares sold at short interest cover period of 0.5 days.

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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 8.00% over the past 6 months, a 100.32% in annual growth rate that is considerably higher than the industry average of -4.50%.

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

If we look at who the major shareholders are, we find that insiders hold 22.24% of Iris Energy Ltd shares while 21.79% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 28.02%. There are 21.79% institutions holding the Iris Energy Ltd stock share, with Platinum Investment Management Ltd the top institutional holder. As of Jun 29, 2023, the company held 3.92% of the shares, roughly 2.63 million IREN shares worth $12.27 million.

Millennium Management Llc holds the second largest percentage of outstanding shares, with 2.37% or 1.59 million shares worth $7.42 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Fidelity Strategic Advisors Small-Mid Cap Fund and Global X Fds-Global X Blockchain ETF. With 0.65 million shares estimated at $3.02 million under it, the former controlled 0.97% of total outstanding shares. On the other hand, Global X Fds-Global X Blockchain ETF held about 0.91% of the shares, roughly 0.61 million shares worth around $2.26 million.

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