Iris Energy Ltd (NASDAQ:IREN) has a beta value of 3.38 and has seen 16.65 million shares traded in the last trading session. The company, currently valued at $1.80B, closed the last trade at $9.56 per share which meant it lost -$0.85 on the day or -8.17% during that session. The IREN stock price is -64.75% off its 52-week high price of $15.75 and 64.33% above the 52-week low of $3.41. If we look at the company’s 10-day average daily trading volume, we find that it stood at 17.87 million shares traded. The 3-month trading volume is 16.06 million shares.
The consensus among analysts is that Iris Energy Ltd (IREN) is Buy stock at the moment, with a recommendation rating of 1.30. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 7 have rated it as a Hold, with 6 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.07.
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Iris Energy Ltd (NASDAQ:IREN) trade information
Sporting -8.17% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the IREN stock price touched $9.56 or saw a rise of 14.18%. Year-to-date, Iris Energy Ltd shares have moved 33.71%, while the 5-day performance has seen it change -8.17%. Over the past 30 days, the shares of Iris Energy Ltd (NASDAQ:IREN) have changed -12.29%. Short interest in the company has seen 10.16 million shares shorted with days to cover at 0.54.
Wall Street analysts have a consensus price target for the stock at $13.75, which means that the shares’ value could jump 30.47% from current levels. The projected low price target is $6.0 while the price target rests at a high of $23.0. In that case, then, we find that the current price level is -140.59% off the targeted high while a plunge would see the stock lose 37.24% from current levels.
Iris Energy Ltd (IREN) estimates and forecasts
Figures show that Iris Energy Ltd shares have outperformed across the wider relevant industry. The company’s shares have gained 23.51% over the past 6 months, with this year growth rate of 189.66%, compared to -9.20% for the industry. Revenue growth from the last financial year stood is estimated to be 145.17%.
7 analysts offering their estimates for the company have set an average revenue estimate of 112.4M for the current quarter. 7 have an estimated revenue figure of 147.58M for the next ending quarter. Year-ago sales stood 42.05M and 54.35M respectively for this quarter and the next, and analysts expect sales will grow by 167.32% for the current quarter and 145.17% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -65.75% over the past 5 years.
IREN Dividends
Iris Energy Ltd is expected to release its next earnings report in December this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Iris Energy Ltd (NASDAQ:IREN)’s Major holders
The top two institutional holders are CASTLE HOOK PARTNERS LP with over 6.87 million shares worth more than $77.55 million. As of 2024-06-30, CASTLE HOOK PARTNERS LP held 6.8935% of shares outstanding.
The other major institutional holder is MOORE CAPITAL MANAGEMENT, LP, with the holding of over 5.46 million shares as of 2024-06-30. The firm’s total holdings are worth over $61.69 million and represent 5.4839% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Valkyrie ETF Tr II-Valkyrie Bitcoin Miners ETF and Global X Fds-Global X Blockchain ETF . As of Sep 30, 2024 , the former fund manager holds about 1.13% shares in the company for having 2.12 shares of worth $20.28 million while later fund manager owns 1.58 shares of worth $15.08 million as of Sep 30, 2024 , which makes it owner of about 0.84% of company’s outstanding stock.
