Cipher Mining Inc (NASDAQ:CIFR) saw a downside of -8.27% to close Friday at $2.44 after subtracting -$0.22 on the day. The 5-day average trading volume is 1,114,880 shares of the company’s common stock. It has gained $3.14 in the past week and touched a new high 1 time within the past 5 days. An average of 1,316,035 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,489,024.
CIFR’s 1-month performance is -21.29% or -$0.37 on its low of $2.44 reached on 09/22/23. The company’s shares have touched a 52-week low of $0.38 and high of $5.30, with the stock’s rally to the 52-week high happening on 07/13/23. YTD, CIFR has achieved 335.71% or $1.88 and has reached a new high 19 times. However, the current price is down -53.92% from the 52-week high price.
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Insider Transactions
CIFR stock investors last saw insider trading activity on Aug 17.Kelly Patrick Arthur (Co-President and COO) most recently sold 35,000 shares at $3.19 per share on Aug 17. This transaction cost the insider $111,650. Co-President and COO, Kelly Patrick Arthur, sold 15,000 shares at a price of $3.32 on Aug 16. Then, on Aug 10, Co-President and CLO Iwaschuk William sold 100,000 shares at a price of $3.58 per share. This transaction amounted to $358,000.
Valuation Metrics
CIFR stock has a beta of 2.44. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 10.90 while the price-to-book (PB) in the most recent quarter is 1.78.
Cipher Mining Inc’s quick ratio for the period ended June 29 was 1.09, with the current ratio over the same period at 1.09. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.04, while the total debt to equity was 0.09. In terms of profitability, the gross margin trailing 12 months is 0.97%. The firm’s gross profit as reported stood at $2.29 million against revenue of $3.04 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected CIFR to announce -$0.03 per share in earnings in its latest quarter, but it posted -$0.05, representing a -66.70% surprise. EBITDA for the quarter stood at more than $3.05 million. CIFR stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 73.51 million, with total debt at $29.42 million. Shareholders hold equity totaling $250.96 million.
Let’s look briefly at Cipher Mining Inc (CIFR) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 23.50% to suggest the stock is trending oversold, with historical volatility in this time period at 47.20%.
The stock’s 5-day moving average is $2.68, reflecting a -14.98% or -$0.43 change from its current price. CIFR is currently trading -17.01% above its 20-day SMA, +16.19% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -53.17% and SMA200 by+157.11%.
Stochastic %K and %D was 9.29% and 10.98% and the average true range (ATR) pointed at 0.23. The RSI (14) points at 31.28%, while the 14-day stochastic is at 0.00% with the period’s ATR at 0.25. The stock’s 9-day MACD Oscillator is pointing at -0.15 and -0.22 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Cipher Mining Inc (NASDAQ: CIFR), BTIG Research launched coverage with a Buy rating.
What is CIFR’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $4.50 and a high of $6.00, with their median price target at $5.25. Looking at these predictions, the average price target given by analysts is for Cipher Mining Inc (CIFR) stock is $5.25.
