Iris Energy Ltd (IREN) concluded trading on 12/13/23 at a closing price of $5.79, with 5.75 million shares of worth about $33.31 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 66.38% during that period and on Wednesday the price saw a gain of about 12.43%. Currently the company’s common shares owned by public are about 64.75M shares, out of which, 50.07M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the IREN stock and their offered price forecasts bring an average price target of $9.64. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $14.00 and could fall to a lowest price of $8.00. The stock’s current price level is 39.94% above of average price target set by the analysts, while a rise to estimated low would result in gain of 27.62% for the stock. However, touching the estimated high of $14.00 would mean a gain of 58.64% for the stock.
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However, the stock later moved at a day high price of 5.86, or with a gain of 12.43%. Stock saw a price change of 7.22% in past 5 days and over the past one month there was a price change of 93.65%. Year-to-date (YTD), IREN shares are showing a performance of 363.20% which increased to 310.64% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.02 but also hit the highest price of $8.06 during that period. The average intraday trading volume for Iris Energy Ltd shares is 2.28 million. The stock is currently trading 34.88% above its 20-day simple moving average (SMA20), while that difference is up 58.83% for SMA50 and it goes to 40.23% higher than SMA200.
Iris Energy Ltd (NASDAQ: IREN) currently have 64.75M outstanding shares and institutions hold larger chunk of about 18.86% of that.
The stock has a current market capitalization of $385.15M and its 3Y-monthly beta is at 2.76. It has a debt-to-equity ratio of 0.41. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for IREN, volatility over the week remained 13.06% while standing at 11.64% over the month.
Analysts are in expectations that Iris Energy Ltd (IREN) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0 and it is -$0.14 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to rise by 97.43% while it is estimated to increase by 628.49% in next year.
Analysts at 7 brokerage firms have issued recommendations for the Iris Energy Ltd (IREN)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 7 Wall Street analysts, 7 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on October 11, 2023 offering an Overweight rating for the stock and assigned a target price range of between $6 and $6.50 to it.
