Those aiming for above-average market returns often engage in the meticulous process of stock picking. Choosing the right stocks can make a substantial difference in your wealth.
The price of Iris Energy Ltd (NASDAQ: IREN) closed at $4.73 in the last session, up 3.50% from day before closing price of $4.57. In other words, the price has increased by $3.50 from its previous closing price. On the day, 4.47 million shares were traded. IREN stock price reached its highest trading level at $4.99 during the session, while it also had its lowest trading level at $4.68.
Ratios:
We take a closer look at IREN’s different ratios to gain a better understanding of the stock. 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 667379392 and an Enterprise Value of 308856768. Its current Enterprise Value per Revenue stands at 2.521 whereas that against EBITDA is -55.43.
Stock Price History:
The Beta on a monthly basis for IREN is 3.06, which has changed by 0.39329267 over the last 52 weeks, in comparison to a change of 0.22379243 over the same period for the S&P500. 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 -10.57%, while the 200-Day Moving Average is calculated to be -4.03%.
Shares Statistics:
According to the various share statistics, IREN traded on average about 10.27M shares per day over the past 3-months and 8025450 shares per day over the past 10 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 13.88% stake in the company. Shares short for IREN as of 1713139200 were 4243995 with a Short Ratio of 0.41, compared to 1710460800 on 1016212. Therefore, it implies a Short% of Shares Outstanding of 4243995 and a Short% of Float of 3.26.
Earnings Estimates
On average, analysts expect EPS of $0 for the current quarter, with a high estimate of $0 and a low estimate of $0, while EPS last year was $0.04. 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 -$0.13, with 6 analysts recommending between $0.11 and -$0.35.
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 $59.05MBased on 7 analysts’ estimates, the company’s revenue will be $184.72M in the next fiscal year. The high estimate is $214M and the low estimate is $148.8M.
