The stock of Cipher Mining Inc (CIFR) has gone up by 18.62% for the week, with a 69.62% rise in the past month and a -23.07% drop in the past quarter. The volatility ratio for the week is 8.87%, and the volatility levels for the past 30 days are 8.82% for CIFR. The simple moving average for the last 20 days is 22.91% for CIFR stock, with a simple moving average of 25.48% for the last 200 days.
Is It Worth Investing in Cipher Mining Inc (NASDAQ: CIFR) Right Now?
The price-to-earnings ratio for Cipher Mining Inc (NASDAQ: CIFR) is above average at 98.03x, Company’s 36-month beta value is 2.26.Analysts have differing opinions on the stock, 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 220.19M, and currently, short sellers hold a 11.78% ratio of that floaft. The average trading volume of CIFR on October 21, 2024 was 9.17M shares.
CIFR) stock’s latest price update
Cipher Mining Inc (NASDAQ: CIFR)’s stock price has increased by 3.11 compared to its previous closing price of 4.82. However, the company has seen a 18.62% increase in its stock price over the last five trading sessions. globenewswire.com reported 2024-10-16 that NEW YORK, Oct. 16, 2024 (GLOBE NEWSWIRE) — Cipher Mining Inc. (NASDAQ: CIFR) (“Cipher” or the “Company”), a U.S.-based Bitcoin mining company, today announced it will provide a business update and release its third quarter 2024 financial results before U.S. markets open on Thursday, October 31, 2024. Cipher will host a conference call and webcast that day at 8:00 a.m. Eastern Time.
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 34.96% 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 -37.80% of loss for the given period.
Volatility was left at 8.82%, however, over the last 30 days, the volatility rate increased by 8.87%, as shares surge +71.38% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.78% upper at present.
During the last 5 trading sessions, CIFR rose by +18.62%, which changed the moving average for the period of 200-days by +26.46% in comparison to the 20-day moving average, which settled at $4.04. In addition, Cipher Mining Inc saw 20.34% 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 Kelly Patrick Arthur, who sale 89,742 shares at the price of $4.37 back on Oct 15 ’24. After this action, Kelly Patrick Arthur now owns 717,431 shares of Cipher Mining Inc, valued at $392,442 using the latest closing price.
Kelly Patrick Arthur, the Officer of Cipher Mining Inc, proposed sale 89,742 shares at $4.37 during a trade that took place back on Oct 15 ’24, which means that Kelly Patrick Arthur is holding shares at $392,478 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 9.68. 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 a nutshell, Cipher Mining Inc (CIFR) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. 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.
