Iris Energy Ltd [IREN] Is Currently -3.49 below its 200 Period Moving Avg: What Does This Mean?

Iris Energy Ltd [NASDAQ: IREN] loss -3.49% on the last trading session, reaching $4.15 price per share at the time. The company report on January 23, 2024 at 6:33 AM that Iris Energy provides 10 EH/s expansion update.

Increases operating capacity to 6 EH/s.

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If compared to the average trading volume of 4.40M shares, IREN reached a trading volume of 5292412 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Iris Energy Ltd [IREN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IREN shares is $10.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IREN stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Iris Energy Ltd shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 11, 2023.

The Average True Range (ATR) for Iris Energy Ltd is set at 0.72 The Price to Book ratio for the last quarter was 0.81, with the Price to Cash per share for the same quarter was set at 0.61.

Trading performance analysis for IREN stock

Iris Energy Ltd [IREN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.72. With this latest performance, IREN shares dropped by -24.95% in over the last four-week period, additionally sinking by -37.97% over the last 6 months – not to mention a rise of 109.60% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IREN stock in for the last two-week period is set at 35.43, with the RSI for the last a single of trading hit 26.88, and the three-weeks RSI is set at 40.59 for Iris Energy Ltd [IREN]. The present Moving Average for the last 50 days of trading for this stock 5.26, while it was recorded at 4.36 for the last single week of trading, and 4.59 for the last 200 days.

Iris Energy Ltd [IREN]: A deeper dive into fundamental analysis

Iris Energy Ltd’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.53.

An analysis of Institutional ownership at Iris Energy Ltd [IREN]

The top three institutional holders of IREN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in IREN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IREN stock with ownership which is approximately 5.8325%.