Cipher Mining Inc (NASDAQ:CIFR) price on Thursday, January 16, fall -0.76% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $5.20.
A look at the stock’s price movement, the close in the last trading session was $5.24, moving within a range at $5.155 and $5.455. 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 -15.17% over the past month.
Cipher Mining Inc’s market cap currently stands at around $1.81 billion, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 40.33M for the company’s revenue for the quarter, with a low and high estimate of 32.3M and 45.6M respectively. The average forecast suggests down to a -7.11% 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 149.36M, representing a 17.75% 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 Hold. On the other hand, the stock is on average a 50% 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 -2.79% and -14.23% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 46.27, while 7-day volatility ratio is 6.27% and 9.77% in the 30-day chart. Further, Cipher Mining Inc (CIFR) has a beta value of 2.39, and an average true range (ATR) of 0.52. Analysts have given the company’s stock an average 52-week price target of $7.25, forecast between a low of $6 and high of $9. Looking at the price targets, the low is -15.38% off current price level while to achieve the yearly target high, price needs to move -73.08%. Nonetheless, investors will most likely welcome a -39.42% jump to $7.25 which is the analysts’ median price.
If we refocus on Cipher Mining Inc (NASDAQ:CIFR), historical trading data shows that trading volumes averaged 7.87 over the past 10 days and 10.61 million over the past 3 months. The company’s latest data on shares outstanding shows there are 347.80 million shares.
The 31.11% of Cipher Mining Inc’s shares are in the hands of company insiders while institutional holders own 29.25% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 22.68 million on 2024-12-31, giving us a short ratio of 2.12. The data shows that as of 2024-12-31 short interest in Cipher Mining Inc (CIFR) stood at 1019.9999999999999 of shares outstanding, with shares short falling to 22.68 million registered in 2024-11-29. Current price change has pushed the stock 12.07% 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.
