Should I buy or sell Iris Energy stock right now?

6 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Iris Energy in the last year. There are currently 6 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" IREN shares. View IREN analyst ratings or view top-rated stocks .

What is Iris Energy's stock price target for 2024?

6 Wall Street analysts have issued 12 month price objectives for Iris Energy's shares. Their IREN share price targets range from $6.50 to $24.00. On average, they predict the company's stock price to reach $11.08 in the next year. This suggests a possible upside of 106.0% from the stock's current price. View analysts price targets for IREN or view top-rated stocks among Wall Street analysts .

How have IREN shares performed in 2023?

Iris Energy's stock was trading at $1.25 at the beginning of 2023. Since then, IREN stock has increased by 330.4% and is now trading at $5.38. View the best growth stocks for 2023 here .

Are investors shorting Iris Energy?

Iris Energy saw a increase in short interest in November. As of November 15th, there was short interest totaling 1,990,000 shares, an increase of 24.4% from the October 31st total of 1,600,000 shares. Based on an average daily trading volume, of 1,660,000 shares, the days-to-cover ratio is presently 1.2 days. Currently, 4.0% of the company's stock are sold short. View Iris Energy's Short Interest .

When is Iris Energy's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, December 13th 2023. View our IREN earnings forecast .

What ETFs hold Iris Energy's stock?

ETFs with the largest weight of Iris Energy (NASDAQ:IREN) stock in their portfolio include Valkyrie Bitcoin Miners ETF (WGMI) , Grayscale Future of Finance ETF (GFOF) , VanEck Digital Transformation ETF (DAPP) , VanEck Digital Assets Mining ETF (DAM) , Invesco Alerian Galaxy Crypto Economy ETF (SATO) , Global X Blockchain ETF (BKCH) , Bitwise Crypto Industry Innovators ETF (BITQ) and Fidelity Crypto Industry and Digital Payments ETF (FDIG) .

When did Iris Energy IPO?

(IREN) raised $215 million in an initial public offering (IPO) on Wednesday, November 17th 2021. The company issued 8,269,231 shares at $25.00-$27.00 per share.

Who are Iris Energy's major shareholders?

Iris Energy's stock is owned by a variety of retail and institutional investors. Top institutional investors include Platinum Investment Management Ltd. (3.91%), Regal Partners Ltd (1.95%), Van ECK Associates Corp (1.68%), Mirae Asset Global Investments Co. Ltd. (1.02%), Exchange Traded Concepts LLC (0.63%) and Simplex Trading LLC (0.00%).

How do I buy shares of Iris Energy?

Shares of IREN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull , Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. Compare Top Brokerages Here .

Iris Energy Stock Price, News & Analysis (NASDAQ:IREN)

$5.38

-0.19 (-3.41%)

(As of 12/4/2023 ET)

Compare

Today's Range: $5.13
▼
$6.27
50-Day Range: $2.83
▼
$5.57
52-Week Range: $1.02
▼
$8.06

Volume: 8.73 million shs
Average Volume: 1.34 million shs
Market Capitalization: $358.85 million

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $11.08

Iris Energy MarketRank™ Stock Analysis

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 106.0% Upside
$11.08 Price Target
Short Interest: Healthy
3.97% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.07
Based on 7 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: N/A

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.33 out of 5 stars

Oils/Energy Sector

95th out of 225 stocks

Nondepository Credit Institutions Industry

9th out of 46 stocks

4.5

Analyst's Opinion

Consensus Rating
Iris Energy has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 6 buy ratings, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $11.08, Iris Energy has a forecasted upside of 106.0% from its current price of $5.38.
Amount of Analyst Coverage
Iris Energy has been the subject of 5 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

3.0

Short Interest

Percentage of Shares Shorted
3.97% of the float of Iris Energy has been sold short.
Short Interest Ratio / Days to Cover
Iris Energy has a short interest ratio ("days to cover") of 1.2, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Iris Energy has recently increased by 24.38%, indicating that investor sentiment is decreasing significantly.

0.0

Dividend Strength

Dividend Yield
Iris Energy does not currently pay a dividend.
Dividend Growth
Iris Energy does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for IREN.

2.8

News and Social Media Coverage

News Sentiment
Iris Energy has a news sentiment score of 0.07. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.49 average news sentiment score of Oils/Energy companies.
News Coverage This Week
MarketBeat has tracked 7 news articles for Iris Energy this week, compared to 3 articles on an average week.
Search Interest
13 people have searched for IREN on MarketBeat in the last 30 days. This is an increase of 44% compared to the previous 30 days.
MarketBeat Follows
7 people have added Iris Energy to their MarketBeat watchlist in the last 30 days. This is an increase of 250% compared to the previous 30 days.

1.7

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Iris Energy insiders have not sold or bought any company stock.
Percentage Held by Insiders
21.55% of the stock of Iris Energy is held by insiders. A high percentage of insider ownership can be a sign of company health.
Percentage Held by Institutions
Only 21.52% of the stock of Iris Energy is held by institutions.

0.0

Earnings and Valuation

Price to Book Value per Share Ratio
Iris Energy has a P/B Ratio of 1.17. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Iris Energy Stock (NASDAQ:IREN)

Iris Energy Limited owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.

IREN Stock Price History

30 days | 90 days | 365 days | Advanced Chart

IREN Stock News Headlines

December 5, 2023 | americanbankingnews.com

Iris Energy (NASDAQ:IREN) Receives "Overweight" Rating from Cantor Fitzgerald

December 4, 2023 | baystreet.ca

What Happens Next After Bitcoin Rallied 9.3% in November

December 5, 2023 | Wealthpress (Ad)

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December 3, 2023 | americanbankingnews.com

Iris Energy Limited (NASDAQ:IREN) Sees Large Growth in Short Interest

November 28, 2023 | thestreet.com

Iris Energy Limited

November 27, 2023 | markets.businessinsider.com

Up 197% YTD, What’s Ahead for Penny Stock Iris Energy (NASDAQ:IREN)?

November 27, 2023 | americanbankingnews.com

Q1 2024 Earnings Forecast for Iris Energy Limited Issued By HC Wainwright (NASDAQ:IREN)

November 25, 2023 | americanbankingnews.com

Iris Energy Target of Unusually High Options Trading (NASDAQ:IREN)

December 5, 2023 | Wealthpress (Ad)

Trading Experts Call It “The Perfect Tesla Trade”

November 23, 2023 | markets.businessinsider.com

Strong Growth Potential and Operational Efficiency Bolsters Buy Rating for Iris Energy (IREN)

November 22, 2023 | markets.businessinsider.com

Analyst Expectations for Iris Energy's Future

November 17, 2023 | proactiveinvestors.com

Iris Energy sets date for investor update call

November 17, 2023 | finance.yahoo.com

Iris Energy to Host an Investor Update Call on November 21, 2023

November 7, 2023 | proactiveinvestors.com

Iris Energy reports $11.2M in Bitcoin revenue for October

November 7, 2023 | finance.yahoo.com

Iris Energy Announces Monthly Investor Update for October 2023

October 11, 2023 | proactiveinvestors.com

Iris Energy reveals big boost in Bitcoin mining capacity

October 11, 2023 | msn.com

JP Morgan Upgrades Iris Energy (IREN)

October 11, 2023 | msn.com

Boeing called a buy after Q3 delivery numbers: 5 big analyst picks

October 10, 2023 | markets.businessinsider.com

Cantor Fitzgerald Keeps Their Buy Rating on Iris Energy (IREN)

October 7, 2023 | msn.com

Iris Energy expands mining capabilities ahead of Bitcoin halving

October 6, 2023 | finance.yahoo.com

Iris Energy Increases Mining Capacity by 25% to 7.0 EH/s

October 5, 2023 | proactiveinvestors.com

Iris Energy steadily advancing 80MW expansion at Childress bitcoin mining operation

October 5, 2023 | finance.yahoo.com

Here's Why Iris Energy Limited (IREN) Could be Great Choice for a Bottom Fisher

October 5, 2023 | finance.yahoo.com

Iris Energy Announces Monthly Investor Update for September 2023

September 18, 2023 | finance.yahoo.com

Iris Energy hails record revenue in FY23

September 16, 2023 | msn.com

HC Wainwright & Co. Maintains Iris Energy (IREN) Buy Recommendation

September 16, 2023 | finance.yahoo.com

Companies Like Iris Energy (NASDAQ:IREN) Are In A Position To Invest In Growth

See More Headlines

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Company Calendar

Today: 12/04/2023
Next Earnings (Estimated): 12/13/2023
Fiscal Year End: 6/30/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Nondepository credit institutions
Sub-Industry: N/A
Sector: Oils/Energy
Current Symbol: NASDAQ:IREN
CUSIP: N/A
CIK: 1878848
Web: irisenergy.co
Phone: 61-2-7906-8301
Fax: N/A
Employees: 100
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $11.08
High Stock Price Target: $24.00
Low Stock Price Target: $6.50
Potential Upside/Downside: +106.0%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 6 Analysts

Profitability

EPS (Most Recent Fiscal Year): N/A
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: N/A
Net Margins: N/A
Pretax Margin: N/A
Return on Equity: N/A
Return on Assets: N/A

Debt

Debt-to-Equity Ratio: N/A
Current Ratio: 3.72
Quick Ratio: 3.72

Sales & Book Value

Annual Sales: $75.51 million
Price / Sales: 4.75
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $4.58 per share
Price / Book: 1.17

Miscellaneous

Outstanding Shares: 66,700,000
Free Float: 52,328,000
Market Cap: $358.85 million
Optionable: Not Optionable
Beta: 2.75

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Key Executives

Mr. William Roberts (Age 33)
Co-Founder, Co-CEO & Director
Comp: $2.97M
Mr. Daniel Roberts (Age 39)
Co-Founder, Co-CEO & Director
Comp: $2.97M
Ms. Belinda Nucifora (Age 50)
Chief Financial Officer
Comp: $533.79k
Mr. David Shaw (Age 56)
Chief Operating Officer
Comp: $591.7k
Ms. Cesilia Kim (Age 48)
Chief Legal & Risk Officer
Comp: $475.35k
Mr. Denis Skrinnikoff (Age 39)
Chief Technology Officer?
Lincoln Tan
Senior Manager of Investor Relations
Heather Miller
Vice President of People, Culture & Community
Mr. Bom Shin
Head of Capital Markets
Kent Draper
Chief Commercial Officer

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

IREN Stock Analysis - Frequently Asked Questions

Should I buy or sell Iris Energy stock right now?: 6 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Iris Energy in the last year. There are currently 6 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" IREN shares.
View IREN analyst ratings or view top-rated stocks.
What is Iris Energy's stock price target for 2024?: 6 Wall Street analysts have issued 12 month price objectives for Iris Energy's shares. Their IREN share price targets range from $6.50 to $24.00. On average, they predict the company's stock price to reach $11.08 in the next year. This suggests a possible upside of 106.0% from the stock's current price.
View analysts price targets for IREN or view top-rated stocks among Wall Street analysts.
How have IREN shares performed in 2023?: Iris Energy's stock was trading at $1.25 at the beginning of 2023. Since then, IREN stock has increased by 330.4% and is now trading at $5.38.
View the best growth stocks for 2023 here.
Are investors shorting Iris Energy?: Iris Energy saw a increase in short interest in November. As of November 15th, there was short interest totaling 1,990,000 shares, an increase of 24.4% from the October 31st total of 1,600,000 shares. Based on an average daily trading volume, of 1,660,000 shares, the days-to-cover ratio is presently 1.2 days. Currently, 4.0% of the company's stock are sold short.
View Iris Energy's Short Interest.
When is Iris Energy's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Wednesday, December 13th 2023.
View our IREN earnings forecast.

What ETFs hold Iris Energy's stock?: ETFs with the largest weight of Iris Energy (NASDAQ:IREN) stock in their portfolio include Valkyrie Bitcoin Miners ETF (WGMI), Grayscale Future of Finance ETF (GFOF), VanEck Digital Transformation ETF (DAPP), VanEck Digital Assets Mining ETF (DAM), Invesco Alerian Galaxy Crypto Economy ETF (SATO), Global X Blockchain ETF (BKCH), Bitwise Crypto Industry Innovators ETF (BITQ) and Fidelity Crypto Industry and Digital Payments ETF (FDIG).
When did Iris Energy IPO?: (IREN) raised $215 million in an initial public offering (IPO) on Wednesday, November 17th 2021. The company issued 8,269,231 shares at $25.00-$27.00 per share.
Who are Iris Energy's major shareholders?: Iris Energy's stock is owned by a variety of retail and institutional investors. Top institutional investors include Platinum Investment Management Ltd. (3.91%), Regal Partners Ltd (1.95%), Van ECK Associates Corp (1.68%), Mirae Asset Global Investments Co. Ltd. (1.02%), Exchange Traded Concepts LLC (0.63%) and Simplex Trading LLC (0.00%).
How do I buy shares of Iris Energy?: Shares of IREN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

This page (NASDAQ:IREN) was last updated on 12/5/2023 by MarketBeat.com Staff

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