Iris Energy Ltd (NASDAQ:IREN) does about 10.13M shares in volume on a normal day but saw 17710496 shares change hands in Monday trading. The company now has a market cap of 766.66M USD. Its current market price is $5.51, marking an increase of 11.31% compared to the previous close of $4.95. The 52 week high reached by this stock is $9.69 whilst the lowest price level in 52 weeks is $2.79.
Iris Energy Ltd (IREN) has a 20-day trading average at $5.23 and the current price is -43.14% off the 52-week high compared with 97.50% distance from its 52-week low. The 50-day simple moving average of the closing price is $5.63 and its 200-day simple moving average is $5.01. If we look at the stock’s price movements over the week, volatility stands at 10.17%, which increases to 11.28% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 54.83 to suggest the stock is neutral.
The consensus objective for the share price is $11.00, suggesting that the stock has a potential upside of 49.91% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on October 11, 2023 when JP Morgan upgraded the stock to “Overweight” and issued a price target of between $6 and $6.50. Cantor Fitzgerald also upgraded the stock to “Overweight” from Neutral on May 12, 2023 at a price target of $4-$7. B. Riley Securities initiated its price target at $4.
Iris Energy Ltd (IREN) stock is up 27.25% over the week and -2.48% over the past month. Its price is -22.94% year-to-date and 38.44% over the past year.
The stock last released its quarterly earnings report for quarter ended 12/31/2022, with the company’s earnings per share (EPS) of -$2.71 below consensus estimates by -$2.59.
To reach the target analysts have set, the stock logically needs to grow 49.91 percent from here.
The forward price to earnings ratio is 6.58. The beta has a value of 2.92. Price to book ratio is 1.19.
