Cipher Mining Inc. [NASDAQ: CIFR] stock went on a downward path that fall over -7.69% on Tuesday, amounting to a one-week price increase of more than 12.75%. The company report on March 14, 2023 that Cipher Mining Provides Fourth Quarter and Full Year 2022 Business Update.
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Four Data Centers Operational and Hashing at All-Time High Hash Rate Capacity of ~5.2 EH/s.
Completion of Initial Build Out at Odessa Data Center Expected by April 2023.
Over the last 12 months, CIFR stock dropped by -41.87%. The one-year Cipher Mining Inc. stock forecast points to a potential upside of 41.05. The average equity rating for CIFR stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $447.37 million, with 247.51 million shares outstanding and 40.98 million shares in the current float. Compared to the average trading volume of 1.29M shares, CIFR stock reached a trading volume of 8183937 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $2.85 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 2.00. 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.
Cantor Fitzgerald have made an estimate for Cipher Mining Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 14, 2023. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on February 21, 2023, representing the official price target for Cipher Mining Inc. stock. Previously, the target price had yet another raise from $1.50 to $3, while H.C. Wainwright kept a Buy rating on CIFR stock.
The Average True Range (ATR) for Cipher Mining Inc. is set at 0.29 The Price to Book ratio for the last quarter was 1.08, with the Price to Cash per share for the same quarter was set at 0.11.
CIFR Stock Performance Analysis:
Cipher Mining Inc. [CIFR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.75. With this latest performance, CIFR shares gained by 11.26% in over the last four-week period, additionally sinking by -7.18% over the last 6 months – not to mention a drop of -41.87% 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 55.15, with the RSI for the last a single of trading hit 55.68, and the three-weeks RSI is set at 55.33 for Cipher Mining Inc. [CIFR]. The present Moving Average for the last 50 days of trading for this stock 1.3634, while it was recorded at 1.5480 for the last single week of trading, and 1.3886 for the last 200 days.
Insight into Cipher Mining Inc. 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.
Cipher Mining Inc. [CIFR] Insider Position Details
There are presently around $21 million, or 11.10% of CIFR stock, in the hands of institutional investors. The top three institutional holders of CIFR stocks are: VANGUARD GROUP INC with ownership of 3,000,819, which is approximately -0.644% of the company’s market cap and around 1.40% of the total institutional ownership; BLACKROCK INC., holding 1,948,898 shares of the stock with an approximate value of $3.27 million in CIFR stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $1.47 million in CIFR stock with ownership of nearly -4.416% of the company’s market capitalization.
Positions in Cipher Mining Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 31 institutional holders increased their position in Cipher Mining Inc. [NASDAQ:CIFR] by around 2,485,056 shares. Additionally, 45 investors decreased positions by around 16,867,900 shares, while 19 investors held positions by with 6,916,733 shares. The mentioned changes placed institutional holdings at 12,436,223 shares, according to the latest SEC report filing. CIFR stock had 17 new institutional investments in for a total of 1,744,478 shares, while 17 institutional investors sold positions of 5,503,369 shares during the same period.