Cipher Mining Inc (NASDAQ:CIFR) price on Friday, November 15, rose 3.27% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $6.63.
A look at the stock’s price movement, the close in the last trading session was $6.42, moving within a range at $6.27 and $6.67. The beta value (5-Year monthly) was 2.193. Turning to its 52-week performance, $7.99 and $2.15 were the 52-week high and 52-week low respectively. Overall, CIFR moved 37.55% over the past month.
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Cipher Mining Inc’s market cap currently stands at around $2.31 billion, with investors looking forward to this quarter’s earnings report slated for on 2025-Mar-03.
Analysts have a consensus estimate of 39.41M for the company’s revenue for the quarter, with a low and high estimate of 32.3M and 44.33M respectively. The average forecast suggests down to a -9.23% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 148.62M, representing a 17.17% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CIFR is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
8 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 4 recommend CIFR as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CIFR’s current price about 10.99% and 43.88% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 61.36, while 7-day volatility ratio is 11.19% and 9.48% in the 30-day chart. Further, Cipher Mining Inc (CIFR) has a beta value of 2.26, and an average true range (ATR) of 0.59. Analysts have given the company’s stock an average 52-week price target of $7.5, forecast between a low of $6 and high of $9. Looking at the price targets, the low is 9.5% off current price level while to achieve the yearly target high, price needs to move -35.75%. Nonetheless, investors will most likely welcome a -13.12% jump to $7.5 which is the analysts’ median price.
If we refocus on Cipher Mining Inc (NASDAQ:CIFR), historical trading data shows that trading volumes averaged 15.06 over the past 10 days and 10.54 million over the past 3 months. The company’s latest data on shares outstanding shows there are 290.96 million shares.
The 32.64% of Cipher Mining Inc’s shares are in the hands of company insiders while institutional holders own 28.78% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 24.14 million on 2024-10-31, giving us a short ratio of 2.56. The data shows that as of 2024-10-31 short interest in Cipher Mining Inc (CIFR) stood at 1086.0 of shares outstanding, with shares short falling to 25.93 million registered in 2024-09-30. Current price change has pushed the stock 60.53% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CIFR stock continues to rise going into the next quarter.
