Analysis Of The Weekly Performance Of Cipher Mining Inc. (CIFR)

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Cipher Mining Inc. (NASDAQ:CIFR) finished Wednesday with a subtraction of -$0.1 to close at $0.41, a downside of -18.81 percent. An average of 1,435,360 shares of common stock have been traded in the last five days. There was a fall of -$0.1878 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 780,890 shares traded, while the 50-day average volume stands at 614,216.

CIFR stock has decreased by -53.14% in the last month. The company shares reached their 1-month lowest point of $0.3886 on 12/28/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $0.49 and a high of $4.95 in 52 weeks. It has reached a new high 1 time so far this year and lost -91.10% or -$4.2178 in price. In spite of this, the price is down -91.67% from the 52-week high.


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Insider Transactions

CIFR stock investors should be aware that Cipher Mining Inc. (CIFR) stock had its last reported insider trading activity 28 days ago on Dec 01.

Financial Health

The quick ratio of Cipher Mining Inc. for the three months ended September 29 was 3.60, and the current ratio was 3.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending September 29.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Cipher Mining Inc.’s return on assets was -15.50%.

Earnings Surprise

In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $59.29 million in the quarter, while revenues of -$29.22 million were grew 100.0%. The analyst consensus anticipated Cipher Mining Inc.’s latest quarter earnings to come in at -$0.07 per share, but it turned out to be $0.24, a 442.90% surprise. For the quarter, EBITDA amounted to $59.45 million. Shareholders own equity worth $247.52 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Cipher Mining Inc. (CIFR) price momentum. RSI 9-day as of the close on 28 December was 16.90%, suggesting the stock is oversold, with historical volatility in this time frame at 111.20%.

As of today, CIFR’s price is $0.5217 -31.30% or -$0.1878 from its 5-day moving average. CIFR is currently trading -53.62% lower than its 20-day SMA and -81.18% lower than its 100-day SMA. However, the stock’s current price level is -57.33% below the SMA50 and -84.50% below the SMA200.

The stochastic %K and %D were 5.15% and 5.52%, respectively, and the average true range (ATR) was 0.0989. With the 14-day stochastic at 4.71% and the average true range at 0.1073, the RSI (14) stands at 24.82%. The stock has reached -0.0828 on the 9-day MACD Oscillator while the 14-day reading was at -0.1455.

Analyst Ratings

H.C. Wainwright launched coverage on Cipher Mining Inc. (NASDAQ: CIFR) in its analyst report released on October 10, 2022. The firm assigned the stock a Neutral rating. The consensus rating for Cipher Mining Inc. (CIFR) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CIFR, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.

What is CIFR’s price target for the next 12 months?

Analysts predict a range of price targets between $1.50 and $1.50, with a median target of $1.50. Taking a look at these predictions, the average price target given by analysts for Cipher Mining Inc. (CIFR) stock is $1.50.

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