For those aiming to surpass market returns, the art of stock picking is crucial. Making wise choices in stocks can greatly enhance your overall wealth.
The closing price of Iris Energy Ltd (NASDAQ: IREN) was $5.58 for the day, up 1.27% from the previous closing price of $5.51. In other words, the price has increased by $1.27 from its previous closing price. On the day, 10.91 million shares were traded. IREN stock price reached its highest trading level at $5.695 during the session, while it also had its lowest trading level at $5.35.
Ratios:
Our analysis of IREN’s different ratios will help us gain a deeper understanding of the company. In the meantime, Its Debt-to-Equity ratio is 0.00 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, JP Morgan on October 11, 2023, Upgraded its rating to Overweight and sets its target price to $6.50 from $6 previously.
On May 12, 2023, Cantor Fitzgerald Upgraded its rating to Overweight which previously was Neutral and also upped its target price recommendation from $4 to $7.
On April 06, 2023, B. Riley Securities started tracking the stock assigning a Buy rating and target price of $4.B. Riley Securities initiated its Buy rating on April 06, 2023, with a $4 target price.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, IREN now has a Market Capitalization of 787310144 and an Enterprise Value of 374667776. Its current Enterprise Value per Revenue stands at 3.058 whereas that against EBITDA is -67.241.
Stock Price History:
Over the past 52 weeks, IREN has reached a high of $9.69, while it has fallen to a 52-week low of $2.79. The 50-Day Moving Average of the stock is -0.92%, while the 200-Day Moving Average is calculated to be 11.29%.
Shares Statistics:
IREN traded an average of 10.13M shares per day over the past three months and 8050340 shares per day over the past ten days. A total of 139.14M shares are outstanding, with a floating share count of 118.96M. Insiders hold about 14.50% of the company’s shares, while institutions hold 13.31% stake in the company. Shares short for IREN as of 1711584000 were 2057173 with a Short Ratio of 0.20, compared to 1709164800 on 2461329. Therefore, it implies a Short% of Shares Outstanding of 2057173 and a Short% of Float of 2.08.
