How to Buy Iris Energy Stock
Iris Energy Ltd
Iris Energy Limited operates as a bitcoin mining company. The company was incorporated in 2018 and is based in Sydney, Australia. .
Iris Energy stock last closed at $7.13, up 10.71% from the previous day, and has increased 70.57% in one year. It has overperformed other stocks in the Capital Markets industry by 0.43 percentage points. Iris Energy stock is currently +155.56% from its 52-week low of $2.79, and -54.73% from its 52-week high of $15.75.
At the moment, there are 187.86M IREN shares outstanding. The market capitalization of IREN is $1.34B. In the past 24 hours, 13.48M IREN shares were traded.
How to Buy Iris Energy Stock
Not sure how to invest in Iris Energy stock? Here's how.
- Choose where to buy Iris Energy stock: You need to choose a stock brokerage, but don't worry - we've sifted through dozens of online stock brokerages and apps to help you choose where to buy Iris Energy stock.
- Sign up for a brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've selected.
- Put funds into your investment account: Select your payment method and add your details.
- Research Iris Energy stock: The Iris Energy ticker symbol is IREN. Is Iris Energy stock a good investment? Should you buy shares of IREN? How do IREN's underlying business fundamentals look? Do top analysts think Iris Energy is a good buy? Why has IREN's stock price moved recently? (Hint: Our stock research website can help you understand if IREN is a good stock to buy).
- Place your IREN trade: Decide if you will purchase IREN shares at the current market price or use a limit order to purchase IREN shares at a particular price.
- Get the latest scoop on your IREN position: Create a watchlist to important notifications about your investment in Iris Energy shares.
Step 1: Choose where to buy Iris Energy stock
You will need a brokerage account to access the NASDAQ market and buy IREN stock.
Our preferred brokerage: eToro
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Open eToro AccountStep 2: Sign up for a brokerage account
Now that you've selected the right brokerage, the next step is to fill out some personal information so you can invest in IREN today.
How to Open a New Brokerage Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Input your personal details to create your new trading account.
- Submit your details by hitting the "Create Account" button. Get started with eToro today
Step 3: Put funds into your investment account
Now that you have opened your account on the best stock market app for beginners, you need to deposit funds:
Check out the video below if you need help transferring funds into your brokerage account.
Step 4: Research Iris Energy stock
Once you have decided on the best place to buy Iris Energy stock, it's absolutely critical to evaluate their stock before you buy, so you can comprehend the risk and opportunity.
Iris Energy shares quick numbers
IREN Overview
WallStreetZen was designed to help everyday investors perform more accurate fundamental analysis in minutes instead of hours.
You can see all of the due diligence checks on IREN's stock page.
Is IREN stock properly valued?
You can use a variety of different financial metrics, analyses, models, and charts to gauge IREN's true value.
Using relative valuations ratios:
- IREN could be undervalued based on its P/B ratio of 1.79x, relative to Capital Markets industry P/B ratio of 1.85x
You can access more valuation research on IREN's stock here.
A quick look at IREN Financials
Passed Health Checks:
- IREN has a low debt to equity ratio of 0.05.
- There are more short-term assets than short-term liabilities on the IREN balance sheet.
- IREN profit margin has gone up from -218.5% to -15.6% in the past year.
- There are more short-term assets than long-term liabilities on the IREN balance sheet.
Failed Health Checks:
- IREN has cash burn of 303231292. It does not have enough cash and short-term investments to cover this.
- IREN has $279.68M in cash and short term investments. This is not enough to cover its annual cash burn of $303.23M.
Do Wall Street analysts think it's a good time to buy Iris Energy stock
Out of 9 Wall Street analysts who monitor IREN, the consensus analyst rating on IREN is a Strong Buy
It's important to note that analyst ratings are not recommendations, nor are they investment advice.
Latest IREN Analyst Ratings
Reginald Smith, a top 33% analyst from JP Morgan maintains IREN with a strong buy rating and lowers their IREN price target from $11.00 to $9.50, on Aug 23, 2024.
Lucas Pipes, a top 30% analyst from B. Riley Securities maintains IREN with a strong buy rating and lowers their IREN price target from $18.00 to $17.00, on Jul 12, 2024.
B. Riley Securities's Lucas Pipes lowered their price target on Iris Energy (NASDAQ: IREN) by 5.6% from $18 to $17 on 2024/07/12. The analyst maintained their Strong Buy rating on the stock.
Ahead of the (expected) 2024/09/13 release of Iris Energy's Q4 and FY 2024 earnings report, Pipes said in a sector preview note that "digital mining equities have declined around 10% since B. Riley Securities' last update because of lower Bitcoin prices.
As a result, their firm adjusted estimates for digital mining names to reflect the quarter's actual readings for the global hash rate and average Bitcoin price, the analyst said.
Gautam Chhugani, a bottom 22% analyst from Bernstein initiates coverage on IREN with a buy rating and announces their IREN price target of $26.00, on Jul 10, 2024.
Josh Siegler, a top 5% analyst from Cantor Fitzgerald reiterates IREN with a strong buy rating and maintains their IREN price target from $10.00 to $10.00, on Apr 1, 2024.
You can dig deeper into what analysts are saying on the Iris Energy stock forecast page.
IREN Technical Indicators
IREN Earnings
Last year, IREN revenue was $126.29M. In the past 4 year, IREN's revenue has increased by 200.87% per year. This was faster than the Capital Markets industry average of 16.03%.
Dig into IREN's earnings and revenue performance here.
What are IREN executives and large shareholders up to?
In the past 12 months, insiders at IREN have not bought or sold any shares.
Dig into more about who owns IREN shares here.
Can I get consistent income from IREN stock?
No, Iris Energy doesn't provide an income stream by paying out dividends.
Get analysis from other traders
One of the reasons eToro is our favorite brokerage is because of its social trading community.
Click below to learn what other investors have to say.
Step 5: Place your IREN trade
You have two primary options:
- Market order: A market order is an order to buy or sell a security at the best possible price.
Market orders are mostly fine for most investors. - Limit order: A limit order lets you buy or sell a security at a specific price (or better).
If you want to be sure you're buying or selling at a particular dollar amount limit, use a limit order.
Press the Open Trade button and your broker will execute your order.
If you require additional help buying stocks on eToro, watch the how to video below:
Step 6: Get the latest scoop on your IREN position
Now that you own some IREN stock, you'll want to keep up with your new investment.
Add IREN to a watchlist to get notified of important updates regarding your IREN stock.
IREN Feed
How to Buy Stock in Iris Energy
To reiterate, here are the 6 steps to buy Iris Energy stock:
- Choose where to buy Iris Energy stock
- Sign up for a brokerage account
- Put funds into your investment account
- Research Iris Energy stock
- Place your IREN trade
- Get the latest scoop on your IREN position
If you are looking for a place to buy stocks, eToro is our recommended option.
Get Started with eToro TodayIf you want to get notifications regarding your investment in Iris Energy, get started below.
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