Cipher Mining Inc. (NASDAQ:CIFR) traded with an addition of $0.02 to $3.12 on Thursday, an upside of 0.55 percent. An average of 1,751,579 shares of common stock have been traded in the last five days. There was a fall of -$0.04 in the past week, and it reached a new high 14 times over the past 12 months. The last 20 days have seen an average of 1,587,455 shares traded, while the 50-day average volume stands at 1,790,624.
CIFR stock has decreased by -17.54% in the last month. The company shares reached their 1-month lowest point of $2.63 on 08/18/23. With the stock rallying to its 52-week high on 07/13/23, shares of the company touched a low of $0.38 and a high of $5.30 in 52 weeks. It has reached a new high 19 times so far this year and achieved 456.59% or $2.58 in price. In spite of this, the price is down -41.14% 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 7 days ago on Aug 17. In this transaction, the insider spent $111,650. Co-President and COO, Kelly Patrick Arthur, disposed of 15,000 shares at a price of $3.32 on Aug 16. The insider now owns more than $49,800 worth of shares. Prior to that, Co-President and CLO Iwaschuk William went on to Sale 100,000 shares at $3.58 each on Aug 10. An amount of $358,000 was transacted.
Valuation Metrics
Cipher Mining Inc. (CIFRstock’s beta is 2.42. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 14.07, the price-to-book (PB) ratio at 2.26.
Financial Health
The quick ratio of Cipher Mining Inc. for the three months ended June 29 was 1.10, and the current ratio was 1.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.03 and a total debt to equity ratio of 0.06 for the quarter ending June 29. Cipher Mining Inc.’s EBITDA margin for the year ending June 29 is -2231.64%. Its gross profit as reported stood at $2.29 million compared to revenue of $3.04 million.
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 -2.80%.
Earnings Surprise
The analyst consensus anticipated Cipher Mining Inc.’s latest quarter earnings to come in at -$0.03 per share, but it turned out to be -$0.05, a -66.70% surprise. For the quarter, EBITDA amounted to $3.05 million. Shareholders own equity worth $250.96 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 23 August was 42.04%, suggesting the stock is Neutral, with historical volatility in this time frame at 84.36%.
As of today, CIFR’s price is $3.01 -1.10% or -$0.04 from its 5-day moving average. CIFR is currently trading -10.94% lower than its 20-day SMA and +34.55% higher than its 100-day SMA. However, the stock’s current price level is +24.90% above the SMA50 and +242.47% above the SMA200.
The stochastic %K and %D were 30.83% and 26.22%, respectively, and the average true range (ATR) was 0.33. With the 14-day stochastic at 40.32% and the average true range at 0.35, the RSI (14) stands at 43.30%. The stock has reached -0.17 on the 9-day MACD Oscillator while the 14-day reading was at -0.32.
Analyst Ratings
Compass Point launched coverage on Cipher Mining Inc. (NASDAQ: CIFR) in its analyst report released on June 06, 2023. The firm assigned the stock a Buy rating. The consensus rating for Cipher Mining Inc. (CIFR) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CIFR, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 5 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 $4.50 and $6.00, with a median target of $5.00. Taking a look at these predictions, the average price target given by analysts for Cipher Mining Inc. (CIFR) stock is $5.10.
