In the last trading session, 29.37 million Iris Energy Ltd (NASDAQ:IREN) shares changed hands as the company’s beta touched 3.41. With the company’s per share price at $12.75 changed hands at $1.76 or 16.01% during last session, the market valuation stood at $2.35B. IREN’s last price was a discount, traded about -23.53% off its 52-week high of $15.75. The share price had its 52-week low at $2.79, which suggests the last value was 78.12% up since then. When we look at Iris Energy Ltd’s average trading volume, we note the 10-day average is 17.8 million shares, with the 3-month average coming to 14.52 million.
Analysts gave the Iris Energy Ltd (IREN) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.30. 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, 1 recommended IREN as a Hold, 6 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 -0.07.
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Iris Energy Ltd (NASDAQ:IREN) trade information
Instantly IREN was in green as seen at the end of in last trading. With action 49.82%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 78.32%, with the 5-day performance at 49.82% in the green. However, in the 30-day time frame, Iris Energy Ltd (NASDAQ:IREN) is 64.73% up. Looking at the short shares, we see there were 10.7 million shares sold at short interest cover period of 0.75 days.
The consensus price target for the stock as assigned by Wall Street analysts is 13.75, meaning bulls need an upside of 7.27% from its current market value. According to analyst projections, IREN’s forecast low is 6 with 23 as the target high. To hit the forecast high, the stock’s price needs a -80.39% plunge from its current level, while the stock would need to tank 52.94% 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 162.89% over the past 6 months, a 162.07% in annual growth rate that is considerably higher than the industry average of -5.40%. Year-over-year growth is forecast to reach 143.70% up from the last financial year.
Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of 57.91M. 9 analysts are of the opinion that Iris Energy Ltd’s revenue for the current quarter will be 104.78M.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -65.75%. The 2024 estimates are for Iris Energy Ltd earnings to increase by 252.12%.
IREN Dividends
Iris Energy Ltd is expected to release its next quarterly earnings report in December.
Iris Energy Ltd (NASDAQ:IREN)’s Major holders
MOORE CAPITAL MANAGEMENT, LP holds the second largest percentage of outstanding shares, with 5.4839% or 5.46 million shares worth $61.69 million as of 2024-06-30.
