Cipher Mining Inc. (NASDAQ: CIFR)’s stock price has increased by 7.10 compared to its previous closing price of 1.83. Despite this, the company has seen a gain of 38.03% in its stock price over the last five trading days.
Is It Worth Investing in Cipher Mining Inc. (NASDAQ: CIFR) Right Now?
Analysts have mixed views on the stock, with 3 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The average price point forecasted by analysts for Cipher Mining Inc. (CIFR) is $2.90, which is $0.89 above the current market price. The public float for CIFR is 40.98M, and currently, short sellers hold a 17.23% ratio of that float. The average trading volume of CIFR on March 17, 2023 was 1.45M shares.
CIFR’s Market Performance
CIFR’s stock has seen a 38.03% increase for the week, with a 29.37% rise in the past month and a 172.22% gain in the past quarter. The volatility ratio for the week is 28.48%, and the volatility levels for the past 30 days are at 17.18% for Cipher Mining Inc. The simple moving average for the last 20 days is 20.54% for CIFR stock, with a simple moving average of 41.31% for the last 200 days.
Analysts’ Opinion of CIFR
Many brokerage firms have already submitted their reports for CIFR stocks, with Cantor Fitzgerald repeating the rating for CIFR by listing it as a “Buy.” The predicted price for CIFR in the upcoming period, according to Cantor Fitzgerald is $3 based on the research report published on March 14th of the current year 2023.
Needham, on the other hand, stated in their research note that they expect to see CIFR reach a price target of $2.70. The rating they have provided for CIFR stocks is “Buy” according to the report published on February 21st, 2023.
H.C. Wainwright gave a rating of “Buy” to CIFR, setting the target price at $3 in the report published on February 07th of the current year.
CIFR Trading at 41.13% from the 50-Day Moving Average
After a stumble in the market that brought CIFR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -50.25% of loss for the given period.
Volatility was left at 17.18%, however, over the last 30 days, the volatility rate increased by 28.48%, as shares surge +7.10% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +206.39% upper at present.
During the last 5 trading sessions, CIFR rose by +38.03%, which changed the moving average for the period of 200-days by -13.27% in comparison to the 20-day moving average, which settled at $1.6325. In addition, Cipher Mining Inc. saw 250.00% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CIFR starting from Page Tyler, who sale 35,000 shares at the price of $0.82 back on Dec 01. After this action, Page Tyler now owns 3,120,614 shares of Cipher Mining Inc., valued at $28,679 using the latest closing price.
GROSSMAN CARY M, the Director of Cipher Mining Inc., purchase 25,000 shares at $1.43 during a trade that took place back on Sep 08, which means that GROSSMAN CARY M is holding 270,266 shares at $35,718 based on the most recent closing price.
Stock Fundamentals for CIFR
Equity return is now at value -16.20, with -15.50 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 447.99.
Conclusion
To put it simply, Cipher Mining Inc. (CIFR) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
