At the last check on Friday, Cipher Mining Inc.’s (NASDAQ:CIFR) stock was down -$0.2, moving down -6.11 percent to $2.99. The average number of shares traded per day over the past five days has been 1,877,138 shares. 2 times new highs have been achieved over the past 5 days, with a $0.03 gain in that time frame. In the last twenty days, the average volume was 1,731,135, while in the previous 50 days, it was 1,750,848.
Since last month, CIFR stock retreated -16.34%. Shares of the company fell to $2.63 on 08/18/23, the lowest level in the past month. A 52-week high of $5.30 was reached on 07/13/23 after having rallying from a 52-week low of $0.38. Since the beginning of this year, CIFR’s stock price has risen by 434.82% or $2.44, and marked a new high 19 times. However, the stock has declined by -43.44% since its 52-week high.
CIFR stock investors should be aware that Cipher Mining Inc. (CIFR) stock had its last reported insider trading activity 15 days ago on Aug 17. Kelly Patrick Arthur, the Co-President and COO of the company, disposed of 35,000 shares for $3.19 on Aug 17. It resulted in a $111,650 divestment by the insider. Kelly Patrick Arthur sold 15,000 shares at an average price of $3.32 on Aug 16. The insider now owns 270,351 shares following the transaction. On Aug 10, Co-President and CLO Iwaschuk William sold 100,000 shares at $3.58 apiece. The transaction was valued at $358,000.
Valuation Metrics
The stock’s beta is 2.41. Besides these, the trailing price-to-sales (P/S) ratio of 13.24, the price-to-book (PB) ratio of 2.17.
Financial Health
In the three months ended June 30, Cipher Mining Inc.’s quick ratio stood at 1.10, while its current ratio was 1.10, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 30 was 0.03, and the total debt-to-equity ratio was 0.06. On the profitability front, the trailing twelve-month gross margin is 55.90% percent. Based on annual data, CIFR earned $2.29 million in gross profit and brought in $3.04 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -11.00%. Return on equity (ROE) for the past 12 months was -3.30%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected Cipher Mining Inc. to report -$0.03 quarterly earnings, the actual figure was -$0.05 per share, beating the consensus estimate by -66.70%. During the quarter, the company generated $3.05 million in EBITDA. The liabilities of Cipher Mining Inc. were 73.51 million at the end of its most recent quarter ended June 30, and its total debt was $29.42 million. The value of shareholders’ equity is $250.96 million.
Technical Picture
This quick technical analysis looks at Cipher Mining Inc.’s (CIFR) price momentum. With a historical volatility rate of 108.24%, the RSI 9-day stood at 41.33% on 31 August.
With respect to its five-day moving average, the current Cipher Mining Inc. price is up by +1.01% percent or $0.03. At present, CIFR shares trade -13.54% below its 20-day simple moving average and +16.73% percent above its 100-day simple moving average. However, the stock is currently trading approximately +6.38% above its SMA50 and +215.79% above its SMA200.
Stochastic coefficient K was 45.89% and Stochastic coefficient D was 50.56%, while ATR was 0.33. Given the Stochastic reading of 34.56% for the 14-day period, the RSI (14) reading has been calculated as 42.83%. As of today, the MACD Oscillator reading stands at 0.09, while the 14-day reading stands at 0.06.
Analyst Ratings
Compass Point launched its rating on Cipher Mining Inc. (NASDAQ: CIFR) to a Buy in a note to investors on June 06, 2023. Cipher Mining Inc. (CIFR) has been rated Buy by analysts. According to 0 brokerage firms, CIFR is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Cipher Mining Inc. stock as buy, with 5 recommending it as overweight.
With a median target price of $5.00, the current consensus forecast for the stock is $4.50 – $6.00. Based on these forecasts, analysts predict Cipher Mining Inc. (CIFR) will achieve an average price target of $5.10.
