After finishing at $5.99 in the prior trading day, Iris Energy Ltd (NASDAQ: IREN) closed at $5.70, down -4.84%. In other words, the price has decreased by -$0.29 from its previous closing price. On the day, 13798419 shares were traded. IREN stock price reached its highest trading level at $6.21 during the session, while it also had its lowest trading level at $5.46.
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Ratios:
Our goal is to gain a better understanding of IREN by taking a closer look at its different ratios. 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 621.60M and an Enterprise Value of 531.37M. Its current Enterprise Value per Revenue stands at 4.36 whereas that against EBITDA is 65.42.
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 $2.21. The 50-Day Moving Average of the stock is 5.89, while the 200-Day Moving Average is calculated to be 4.81.
Shares Statistics:
The stock has traded on average 7.72M shares per day over the past 3-months and 10.9M shares per day over the last 10 days, according to various share statistics. A total of 64.75M shares are outstanding, with a floating share count of 49.68M. Insiders hold about 23.27% of the company’s shares, while institutions hold 28.44% stake in the company. Shares short for IREN as of Feb 15, 2024 were 3.57M with a Short Ratio of 0.46, compared to 2.89M on Jan 12, 2024. Therefore, it implies a Short% of Shares Outstanding of 3.43% and a Short% of Float of 3.84%.
Earnings Estimates
Its stock is currently analyzed by 0 different market analysts. The consensus estimate for the next quarter is $0, with high estimates of $0 and low estimates of $0.
Analysts are recommending an EPS of between $0 and $0 for the fiscal current year, implying an average EPS of $0. EPS for the following year is $0.02, with 7 analysts recommending between $0.38 and -$0.27.
Revenue Estimates
A total of 6 analysts have provided revenue estimates for IREN’s current fiscal year. The highest revenue estimate was $82.02M, while the lowest revenue estimate was $70.6M, resulting in an average revenue estimate of $75.51M. In the same quarter a year ago, actual revenue was $59.05M, up 27.90% from the average estimate. Based on 7 analysts’ estimates, the company’s revenue will be $176.8M in the next fiscal year. The high estimate is $201.3M and the low estimate is $148.8M. The average revenue growth estimate for next year is up 134.10% from the average revenue estimate for this year.
