The trading price of Cipher Mining Inc (NASDAQ:CIFR) closed higher on Friday, December 06, and closing at $7.11, 3.19% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $6.98 and $7.485. In examining the 52-week price action we see that the stock hit a 52-week high of $7.99 and a 52-week low of $2.15. Over the past month, the stock has gained 2.01% in value.
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Cipher Mining Inc, whose market valuation is $2.55 billion at the time of this writing, is expected to release its quarterly earnings report in January. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0.05 per share this quarter, however they have predicted annual earnings per share of 0.22 for current year and 0.52 for next year.
Analysts have forecast the company to bring in revenue of 40.25M for the current quarter, with the likely lows of 32.3M and highs of 45.6M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 149.48M.
On the technical side, indicators suggest CIFR has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned CIFR a recommendation rating is 8. Out of them, 3 rate it a Hold, while 4 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Cipher Mining Inc (CIFR) as Underweight, while 1 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that CIFR’s price is currently 7.02% off the SMA20 and 28.26% off the SMA50. The RSI metric on the 14-day chart is currently showing 59.64, and weekly volatility stands at 9.26%. When measured over the past 30 days, the indicator reaches 11.14%. Cipher Mining Inc (NASDAQ:CIFR)’s beta value is currently sitting at 2.30, while the Average True Range indicator is currently displaying 0.67. With analysts defining $6-$9 as the low and high price targets, we arrive at a consensus price target of $7.5 for the trailing 12-month period. The current price is about 15.61% off the estimated low and -26.58% off the forecast high, based on this estimate. Investors will be thrilled if CIFR’s share price rises to $7.5, which is the median consensus price. At that level, CIFR’s share price would be -5.49% below current price.
To see how Cipher Mining Inc stock has been performing in comparison to its peers in the industry, here are the numbers: CIFR stock’s performance was 3.19% in the latest trading, and 159.49% in the past year.
An evaluation of the daily trading volume of Cipher Mining Inc (NASDAQ:CIFR) indicates that the 3-month average is 10.60 million. However, this figure has increased over the past 10 days to an average of 10.13.
Currently, records show that 347.80 million of the company’s shares remain outstanding. The insiders hold 32.60% of outstanding shares, whereas institutions hold 29.17%. The stats also highlight that short interest as of 2024-11-15, stood at 24.01 million shares, resulting in a short ratio of 1.94 at that time. From this, we can conclude that short interest is 1080.00 of the company’s total outstanding shares. It is noteworthy that short shares in November were up slightly from the previous month’s figure, which was 23.3 million. However, since the stock’s price has seen 72.15% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
