Iris Energy Ltd [NASDAQ: IREN] stock went on a downward path that fall over -3.50% on Friday, amounting to a one-week price increase of more than 25.55%.
Over the last 12 months, IREN stock rose by 279.89%. The one-year Iris Energy Ltd stock forecast points to a potential upside of 3.57. The average equity rating for IREN stock is currently 1.00, trading closer to a bullish pattern in the stock market.
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The market cap for the stock reached $1.91 billion, with 144.63 million shares outstanding and 128.91 million shares in the current float. Compared to the average trading volume of 12.20M shares, IREN stock reached a trading volume of 20473256 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $13.71 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.
Cantor Fitzgerald have made an estimate for Iris Energy Ltd shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 11, 2024. While these analysts kept the previous recommendation, JP Morgan raised their target price from $6 to $6.50. The new note on the price target was released on October 11, 2023, representing the official price target for Iris Energy Ltd stock. Previously, the target price had yet another raise from $4 to $7, while Cantor Fitzgerald kept a Overweight rating on IREN stock.
The Average True Range (ATR) for Iris Energy Ltd is set at 1.09 The Price to Book ratio for the last quarter was 2.70, with the Price to Cash per share for the same quarter was set at 1.80.
IREN Stock Performance Analysis:
Iris Energy Ltd [IREN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 25.55. With this latest performance, IREN shares gained by 154.23% in over the last four-week period, additionally plugging by 128.32% over the last 6 months – not to mention a rise of 279.89% 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 81.22, with the RSI for the last a single of trading hit 82.69, and the three-weeks RSI is set at 78.44 for Iris Energy Ltd [IREN]. The present Moving Average for the last 50 days of trading for this stock 6.64, while it was recorded at 12.63 for the last single week of trading, and 5.26 for the last 200 days.
Insight into Iris Energy Ltd Fundamentals:
Iris Energy Ltd’s liquidity data is similarly interesting compelling, with a Current Ratio set at 7.47.
Iris Energy Ltd [IREN] Institutonal Ownership Details
The top three institutional holders of IREN stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in IREN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in IREN stock with ownership which is approximately 5.8386%.
