Cipher Mining Inc [CIFR] Revenue clocked in at $153.08 million, down -10.17% YTD: What’s Next?

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Cipher Mining Inc [NASDAQ: CIFR] stock went on a downward path that fall over -0.27% on Tuesday, amounting to a one-week price decrease of less than -2.11%.

Over the last 12 months, CIFR stock rose by 76.67%. The one-year Cipher Mining Inc stock forecast points to a potential upside of 36.36. The average equity rating for CIFR stock is currently 1.29, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.15 billion, with 290.96 million shares outstanding and 178.46 million shares in the current float. Compared to the average trading volume of 8.33M shares, CIFR stock reached a trading volume of 4179092 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 $5.83 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 0.41, with the Price to Sales ratio for CIFR stock in the period of the last 12 months amounting to 7.51. The Price to Book ratio for the last quarter was 1.89, with the Price to Cash per share for the same quarter was set at 0.68.

CIFR Stock Performance Analysis:

Cipher Mining Inc [CIFR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.11. With this latest performance, CIFR shares gained by 1.64% in over the last four-week period, additionally plugging by 24.50% over the last 6 months – not to mention a rise of 76.67% 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 44.98, with the RSI for the last a single of trading hit 42.42, and the three-weeks RSI is set at 46.87 for Cipher Mining Inc [CIFR]. The present Moving Average for the last 50 days of trading for this stock 4.05, while it was recorded at 3.78 for the last single week of trading, and 3.34 for the last 200 days.

Insight into Cipher Mining Inc Fundamentals:

Cipher Mining Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.08 and a Current Ratio set at 8.08.

Cipher Mining Inc [CIFR] Institutonal Ownership Details

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%.

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