Cipher Mining Inc [NASDAQ: CIFR] gained 5.93% or 0.24 points to close at $4.29 with a heavy trading volume of 8035740 shares. The company report on April 1, 2024 at 4:05 PM that Cipher Mining Announces March 2024 Operational Update.
The daily chart for CIFR points out that the company has recorded 75.10% gains over the past six months.
If we look at the average trading volume of 9.24M shares, CIFR reached to a volume of 8035740 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $5.67 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 1.29. 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.
JP Morgan have made an estimate for Cipher Mining Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 11, 2023. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on September 15, 2023, representing the official price target for Cipher Mining Inc stock. Previously, the target price had yet another raise to $4, while Compass Point analysts kept a Buy rating on CIFR stock.
The Average True Range (ATR) for Cipher Mining Inc is set at 0.51, with the Price to Sales ratio for CIFR stock in the period of the last 12 months amounting to 10.03. The Price to Book ratio for the last quarter was 2.54, with the Price to Cash per share for the same quarter was set at 0.40.
Trading performance analysis for CIFR stock
Cipher Mining Inc [CIFR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.09. With this latest performance, CIFR shares gained by 25.44% in over the last four-week period, additionally plugging by 75.10% over the last 6 months – not to mention a rise of 91.52% 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 52.33, with the RSI for the last a single of trading hit 49.17, and the three-weeks RSI is set at 53.41 for Cipher Mining Inc [CIFR]. The present Moving Average for the last 50 days of trading for this stock 3.63, while it was recorded at 4.23 for the last single week of trading, and 3.31 for the last 200 days.
Cipher Mining Inc [CIFR]: A deeper dive into fundamental analysis
Cipher Mining Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.60 and a Current Ratio set at 4.60.
Cipher Mining Inc [CIFR]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Cipher Mining Inc posted -0.03/share EPS, while the average EPS was predicted by analysts to be reported at -0.02/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -50.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CIFR.
An analysis of Institutional ownership at Cipher Mining Inc [CIFR]
The top three institutional holders of CIFR stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CIFR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CIFR stock with ownership which is approximately 5.8386%.
