The stock of Cipher Mining Inc (CIFR) has gone down by -6.15% for the week, with a -28.40% drop in the past month and a -36.40% drop in the past quarter. The volatility ratio for the week is 6.76%, and the volatility levels for the past 30 days are 7.52% for CIFR. The simple moving average for the past 20 days is -10.90% for CIFR’s stock, with a -25.71% simple moving average for the past 200 days.
Is It Worth Investing in Cipher Mining Inc (NASDAQ: CIFR) Right Now?
Cipher Mining Inc (NASDAQ: CIFR) has a price-to-earnings ratio that is above its average at 57.20x. The stock has a 36-month beta value of 2.25. Opinions on the stock are mixed, with 6 analysts rating it as a “buy,” 2 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for CIFR is 220.04M, and at present, short sellers hold a 9.84% of that float. On September 23, 2024, the average trading volume of CIFR was 9.69M shares.
CIFR) stock’s latest price update
The stock price of Cipher Mining Inc (NASDAQ: CIFR) has dropped by -1.02 compared to previous close of 2.93. Despite this, the company has seen a fall of -6.15% in its stock price over the last five trading days. zacks.com reported 2024-09-19 that Cipher Mining Inc. (CIFR) concluded the recent trading session at $2.93, signifying a +1.03% move from its prior day’s close.
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 “Overweight.” The predicted price for CIFR in the upcoming period, according to Cantor Fitzgerald is $9 based on the research report published on June 11, 2024 of the current year 2024.
BTIG Research gave a rating of “Buy” to CIFR, setting the target price at $6 in the report published on September 15th of the previous year.
CIFR Trading at -31.69% 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 -63.70% of loss for the given period.
Volatility was left at 7.52%, however, over the last 30 days, the volatility rate increased by 6.76%, as shares sank -23.48% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -33.49% lower at present.
During the last 5 trading sessions, CIFR fell by -6.15%, which changed the moving average for the period of 200-days by -3.01% in comparison to the 20-day moving average, which settled at $3.21. In addition, Cipher Mining Inc saw -29.78% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CIFR starting from Bitfury Top HoldCo B.V., who sale 1,997,304 shares at the price of $2.97 back on Sep 10 ’24. After this action, Bitfury Top HoldCo B.V. now owns 100,047,588 shares of Cipher Mining Inc, valued at $5,926,236 using the latest closing price.
Bitfury Top HoldCo B.V., the 10% Owner of Cipher Mining Inc, sale 1,901,112 shares at $2.87 during a trade that took place back on Sep 09 ’24, which means that Bitfury Top HoldCo B.V. is holding 102,044,892 shares at $5,456,191 based on the most recent closing price.
Stock Fundamentals for CIFR
Current profitability levels for the company are sitting at:
- -0.33 for the present operating margin
- 0.12 for the gross margin
The net margin for Cipher Mining Inc stands at 0.11. The total capital return value is set at -0.07. Equity return is now at value 3.51, with 3.04 for asset returns.
Based on Cipher Mining Inc (CIFR), the company’s capital structure generated 0.03 points at debt to capital in total, while cash flow to debt ratio is standing at -7.33. The debt to equity ratio resting at 0.03. The interest coverage ratio of the stock is -28.03.
Currently, EBITDA for the company is -5.84 million with net debt to EBITDA at -5.9. When we switch over and look at the enterprise to sales, we see a ratio of 5.39. The receivables turnover for the company is 343.44for trailing twelve months and the total asset turnover is 0.2. The liquidity ratio also appears to be rather interesting for investors as it stands at 8.49.
Conclusion
To sum up, Cipher Mining Inc (CIFR) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing 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.
