There Is Still Room For Iris Energy Limited (IREN) to Improve Its Value – Let’s Wait for Clarity

Iris Energy Limited (NASDAQ: IREN) closed the day trading at $2.68 up 1.52% from the previous closing price of $2.64. In other words, the price has increased by $+0.0400 from its previous closing price. On the day, 1562761 shares were traded. IREN stock price reached its highest trading level at $2.9900 during the session, while it also had its lowest trading level at $2.5600.

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For a better understanding of IREN, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 0.50 and its Current Ratio is at 0.50. In the meantime, Its Debt-to-Equity ratio is 0.38 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, H.C. Wainwright on February 16, 2023, Upgraded its rating to Buy and sets its target price to $8 from $3 previously.

On November 08, 2022, Cantor Fitzgerald Downgraded its rating to Neutral which previously was Overweight but kept the price unchanged to $3.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 2.35 while its Price-to-Book (P/B) ratio in mrq is 0.53.

Stock Price History:

Over the past 52 weeks, IREN has reached a high of $17.30, while it has fallen to a 52-week low of $1.02. The 50-Day Moving Average of the stock is 2.2946, while the 200-Day Moving Average is calculated to be 3.2250.

Shares Statistics:

Over the past 3-months, IREN traded about 769.43K shares per day on average, while over the past 10 days, IREN traded about 905.54k shares per day. A total of 53.03M shares are outstanding, with a floating share count of 46.67M. Insiders hold about 23.97% of the company’s shares, while institutions hold 21.80% stake in the company. Shares short for IREN as of Jan 30, 2023 were 1.06M with a Short Ratio of 1.15M, compared to 1.48M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 1.92% and a Short% of Float of 2.36%.

Earnings Estimates

Current recommendations for the stock of the company come from 4 analysts. The consensus estimate for the next quarter is -$0.12, with high estimates of -$0.02 and low estimates of -$0.28.

Analysts are recommending an EPS of between -$0.17 and -$1.28 for the fiscal current year, implying an average EPS of -$0.51. EPS for the following year is -$0.35, with 4 analysts recommending between -$0.2 and -$0.6.

Revenue Estimates

A total of 7 analysts have provided revenue estimates for IREN’s current fiscal year. The highest revenue estimate was $137.4M, while the lowest revenue estimate was $52.07M, resulting in an average revenue estimate of $87.72M. In the same quarter a year ago, actual revenue was $59.05M, up 48.60% from the average estimate. Based on 6 analysts’ estimates, the company’s revenue will be $150.28M in the next fiscal year. The high estimate is $275.49M and the low estimate is $45M. The average revenue growth estimate for next year is up 71.30% from the average revenue estimate for this year.