Cipher Mining Inc (NASDAQ:CIFR) price on Thursday, March 20, fall -1.96% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $3.00.
A look at the stock’s price movement, the close in the last trading session was $3.06, moving within a range at $2.92 and $3.11. The beta value (5-Year monthly) was 2.48. Turning to its 52-week performance, $7.99 and $2.65 were the 52-week high and 52-week low respectively. Overall, CIFR moved -50.17% over the past month.
Cipher Mining Inc’s market cap currently stands at around $1.08 billion, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-24.
Analysts have a consensus estimate of 53.87M for the company’s revenue for the quarter, with a low and high estimate of 47M and 65.58M respectively. The average forecast suggests up to a 11.91% 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 295.66M, representing a 95.45% 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% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell 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 -18.70% and -36.92% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 32.78, while 7-day volatility ratio is 8.06% and 12.80% in the 30-day chart. Further, Cipher Mining Inc (CIFR) has a beta value of 2.55, and an average true range (ATR) of 0.44. 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 -100.0% off current price level while to achieve the yearly target high, price needs to move -200.0%. Nonetheless, investors will most likely welcome a -150.0% 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 13.07 over the past 10 days and 13.41 million over the past 3 months. The company’s latest data on shares outstanding shows there are 350.78 million shares.
The 29.93% of Cipher Mining Inc’s shares are in the hands of company insiders while institutional holders own 36.26% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 27.16 million on 2025-02-28, giving us a short ratio of 1.64. The data shows that as of 2025-02-28 short interest in Cipher Mining Inc (CIFR) stood at 1151.0000400000001 of shares outstanding, with shares short rising to 24.08 million registered in 2025-01-31. Current price change has pushed the stock -35.34% 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.
