Cipher Mining Inc. [CIFR] is -91.10% lower this YTD. Is it still time to buy?

Cipher Mining Inc. [NASDAQ: CIFR] slipped around -0.1 points on Wednesday, while shares priced at $0.41 at the close of the session, down -18.81%. The company report on December 20, 2022 that Cipher Mining Expands Operations at Odessa Data Center.


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Cipher recently purchased 7,200 new rigs at very attractive prices, bringing its total self-mining fleet to roughly 59,000 rigs, with no further payments remaining. The Company was able to purchase these new rigs with minimal cash outlay and continues to demonstrate its market leadership in managing the cyclicality of prices in the bitcoin mining marketplace.

Cipher Mining Inc. stock is now -91.10% down from its year-to-date (YTD) trading value. CIFR Stock saw the intraday high of $0.525 and lowest of $0.3886 per share. The company’s 52-week high price is 4.95, which means current price is +6.07% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 488.69K shares, CIFR reached a trading volume of 4390279 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Cipher Mining Inc. [CIFR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CIFR shares is $1.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CIFR stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Cipher Mining Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 10, 2022.

The Average True Range (ATR) for Cipher Mining Inc. is set at 0.11 The Price to Book ratio for the last quarter was 0.27, with the Price to Cash per share for the same quarter was set at 0.12.

How has CIFR stock performed recently?

Cipher Mining Inc. [CIFR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -31.30. With this latest performance, CIFR shares dropped by -53.14% in over the last four-week period, additionally sinking by -67.54% over the last 6 months – not to mention a drop of -91.21% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CIFR stock in for the last two-week period is set at 24.82, with the RSI for the last a single of trading hit 16.90, and the three-weeks RSI is set at 30.09 for Cipher Mining Inc. [CIFR]. The present Moving Average for the last 50 days of trading for this stock 0.8282, while it was recorded at 0.5217 for the last single week of trading, and 1.8120 for the last 200 days.

Cipher Mining Inc. [CIFR]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -27.49, with Return on Assets sitting at -27.45.

Cipher Mining Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.60 and a Current Ratio set at 3.60.

Insider trade positions for Cipher Mining Inc. [CIFR]

There are presently around $11 million, or 11.10% of CIFR stock, in the hands of institutional investors. The top three institutional holders of CIFR stocks are: MORGAN STANLEY with ownership of 10,242,938, which is approximately 0.492% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 3,020,272 shares of the stock with an approximate value of $1.24 million in CIFR stocks shares; and POINT72 HONG KONG LTD, currently with $1.13 million in CIFR stock with ownership of nearly -20.286% of the company’s market capitalization.

Positions in Cipher Mining Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 24 institutional holders increased their position in Cipher Mining Inc. [NASDAQ:CIFR] by around 1,639,750 shares. Additionally, 36 investors decreased positions by around 2,119,607 shares, while 26 investors held positions by with 22,972,478 shares. The mentioned changes placed institutional holdings at 26,731,835 shares, according to the latest SEC report filing. CIFR stock had 9 new institutional investments in for a total of 512,040 shares, while 10 institutional investors sold positions of 463,513 shares during the same period.

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