Cipher Mining Inc (NASDAQ:CIFR) shares, rose in value, with the stock price down by -2.04% to the previous day’s close as strong demand from buyers drove the stock to $5.28.
Actively observing the price movement in the last trading, the stock closed the session at $5.39, falling within a range of $5.0 and $5.43. The value of beta (5-year monthly) was 2.255 whereas the PE ratio was 104.14 over 12-month period. Referring to stock’s 52-week performance, its high was $7.99, and the low was $2.15. On the whole, CIFR has fluctuated by 47.49% over the past month.
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With the market capitalization of Cipher Mining Inc currently standing at about $1.74 billion, investors are eagerly awaiting this quarter’s results, scheduled for in November.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 157.39M, with a low estimate of 24.5M and a high estimate of 34.14M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 29.22M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that CIFR’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 50% Sell while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of CIFR currently trading nearly 11.82% and 34.47% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 61.02, while the 7-day volatility ratio is showing 6.84% which for the 30-day chart, stands at 8.16%. Furthermore, Cipher Mining Inc (CIFR)’s beta value is 2.26, and its average true range (ATR) is 0.39.
A comparison of Cipher Mining Inc (CIFR) with its peers suggests the former has fared considerably weaker in the market. CIFR showed an intraday change of -2.04% in last session, and over the past year, it grew by 51.29%%.
Data on historical trading for Cipher Mining Inc (NASDAQ:CIFR) indicates that the trading volumes over the past 10 days have averaged 10.34 and over the past 3 months, they’ve averaged 9.41 million. According to company’s latest data on outstanding shares, there are 290.96 million shares outstanding.
Nearly 33.03% of Cipher Mining Inc’s shares belong to company insiders and institutional investors own 29.29% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 23.3 million shares as on 2024-10-15, resulting in a short ratio of 2.22. According to the data, the short interest in Cipher Mining Inc (CIFR) stood at 1111.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 22.36 million. The stock has risen by 27.85% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CIFR stock heading into the next quarter.
