Cipher Mining Inc (NASDAQ: CIFR)’s stock price has plunge by 8.35relation to previous closing price of 3.67. Nevertheless, the company has seen a -3.01% plunge in its stock price over the last five trading sessions. zacks.com reported 2024-10-03 that In the closing of the recent trading day, Cipher Mining Inc. (CIFR) stood at $3.82, denoting a -0.78% change from the preceding trading day.
Is It Worth Investing in Cipher Mining Inc (NASDAQ: CIFR) Right Now?
Cipher Mining Inc (NASDAQ: CIFR) has a higher price-to-earnings ratio of 78.43x compared to its average ratio, The 36-month beta value for CIFR is at 2.26. Analysts have varying views on the stock, with 6 analysts rating it as a “buy,” 2 rating it as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for CIFR is 220.19M, and currently, shorts hold a 11.78% of that float. The average trading volume for CIFR on October 11, 2024 was 9.52M shares.
CIFR’s Market Performance
The stock of Cipher Mining Inc (CIFR) has seen a -3.01% decrease in the past week, with a 28.69% rise in the past month, and a -33.50% fall in the past quarter. The volatility ratio for the week is 5.91%, and the volatility levels for the past 30 days are at 7.96% for CIFR. The simple moving average for the last 20 days is 10.65% for CIFR stock, with a simple moving average of 0.58% for the last 200 days.
Analysts’ Opinion of CIFR
Many brokerage firms have already submitted their reports for CIFR stocks, with Northland Capital repeating the rating for CIFR by listing it as a “Outperform.” The predicted price for CIFR in the upcoming period, according to Northland Capital is $6 based on the research report published on September 25, 2024 of the current year 2024.
Macquarie, on the other hand, stated in their research note that they expect to see CIFR reach a price target of $6. The rating they have provided for CIFR stocks is “Outperform” according to the report published on September 25th, 2024.
Cantor Fitzgerald gave a rating of “Overweight” to CIFR, setting the target price at $9 in the report published on June 11th of the current year.
CIFR Trading at 9.87% 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 -50.23% of loss for the given period.
Volatility was left at 7.96%, however, over the last 30 days, the volatility rate increased by 5.91%, as shares surge +27.18% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -18.63% lower at present.
During the last 5 trading sessions, CIFR fell by -4.15%, which changed the moving average for the period of 200-days by -21.08% in comparison to the 20-day moving average, which settled at $3.59. In addition, Cipher Mining Inc saw -3.72% 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 Iwaschuk William, who sale 150,000 shares at the price of $3.94 back on Sep 25 ’24. After this action, Iwaschuk William now owns 619,148 shares of Cipher Mining Inc, valued at $591,000 using the latest closing price.
Iwaschuk William, the Officer of Cipher Mining Inc, proposed sale 150,000 shares at $3.94 during a trade that took place back on Sep 25 ’24, which means that Iwaschuk William is holding shares at $591,502 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 7.58. 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
In conclusion, Cipher Mining Inc (CIFR) has had a mixed performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others 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.
