At the time of writing, Iris Energy Ltd [IREN] stock is trading at $11.21, up 1.54%. An important factor to consider is whether the stock is rising or falling in short-term value. The IREN shares have gain 22.92% over the last week, with a monthly amount glided 49.27%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Iris Energy Ltd [NASDAQ: IREN] stock has seen the most recent analyst activity on October 02, 2024, when ROTH MKM initiated its Buy rating and assigned the stock a price target of $14. On July 10, 2024, Bernstein initiated with a Outperform rating and assigned a price target of $26 on the stock. JP Morgan upgraded its rating to a Overweight and raised its price target to $6.50 on October 11, 2023. Cantor Fitzgerald upgraded its rating to Overweight for this stock on May 12, 2023, and upped its price target to $7. In a note dated April 06, 2023, B. Riley Securities initiated an Buy rating and provided a target price of $4 on this stock.
For the past year, the stock price of Iris Energy Ltd fluctuated between $2.79 and $15.75. Currently, Wall Street analysts expect the stock to reach $13.44 within the next 12 months. Iris Energy Ltd [NASDAQ: IREN] shares were valued at $11.21 at the most recent close of the market. An investor can expect a potential return of 19.89% based on the average IREN price forecast.
Analyzing the IREN fundamentals
Gross Profit Margin for this corporation currently stands at 0.25% with Operating Profit Margin at -0.13%, Pretax Profit Margin comes in at -0.14%, and Net Profit Margin reading is -0.15%. To continue investigating profitability, this company’s Return on Assets is posted at -0.03, Equity is -0.05 and Total Capital is -0.02. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.0.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 10.79 points at the first support level, and at 10.37 for the second support level. However, for the 1st resistance point, the stock is sitting at 11.51, and for the 2nd resistance point, it is at 11.82.
Ratios To Look Out For
It is important to note that Iris Energy Ltd [NASDAQ:IREN] has a current ratio of 8.87. On the other hand, the Quick Ratio is 8.87, and the Cash Ratio is 7.93.
Transactions by insiders
Recent insider trading involved Christopher Guzowski, Director, that happened on Sep 17 ’24 when 28970.0 shares were purchased.
