The stock of Cipher Mining Inc (NASDAQ: CIFR) has increased by 4.07 when compared to last closing price of 6.63.Despite this, the company has seen a loss of -7.13% in its stock price over the last five trading days. seekingalpha.com reported 2024-10-31 that Cipher Mining (NASDAQ:CIFR ) Q3 2024 Earnings Conference Call October 31, 2024 8:00 AM ET Company Participants Joshua Kane – Head, IR Tyler Page – CEO Ed Farrell – CFO Conference Call Participants Mike Grondahl – Northland Paul Golding – Macquarie Mike Colonnese – H.C. Wainwright.
Is It Worth Investing in Cipher Mining Inc (NASDAQ: CIFR) Right Now?
Additionally, the 36-month beta value for CIFR is 2.24. There are mixed opinions on the stock, with 6 analysts rating it as a “buy,” 4 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
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The public float for CIFR is 234.35M and currently, short sellers hold a 10.30% ratio of that float. The average trading volume of CIFR on November 18, 2024 was 10.42M shares.
CIFR’s Market Performance
CIFR stock saw an increase of -7.13% in the past week, with a monthly gain of 38.83% and a quarterly increase of 74.68%. The volatility ratio for the week is 11.19%, and the volatility levels for the last 30 days are 9.48% for Cipher Mining Inc (CIFR). The simple moving average for the past 20 days is 14.05% for CIFR’s stock, with a 61.73% simple moving average for the past 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 47.21% 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 -13.64% of loss for the given period.
Volatility was left at 9.48%, however, over the last 30 days, the volatility rate increased by 11.19%, as shares surge +27.51% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +132.54% upper at present.
During the last 5 trading sessions, CIFR fell by -7.67%, which changed the moving average for the period of 200-days by +155.97% in comparison to the 20-day moving average, which settled at $6.05. In addition, Cipher Mining Inc saw 67.07% 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 53,161 shares at the price of $7.16 back on Nov 08 ’24. After this action, Kelly Patrick Arthur now owns 664,270 shares of Cipher Mining Inc, valued at $380,633 using the latest closing price.
Bitfury Top HoldCo B.V., the 10% Owner of Cipher Mining Inc, sale 300,000 shares at $6.60 during a trade that took place back on Nov 07 ’24, which means that Bitfury Top HoldCo B.V. is holding 98,747,588 shares at $1,980,000 based on the most recent closing price.
Stock Fundamentals for CIFR
Current profitability levels for the company are sitting at:
- -0.83 for the present operating margin
- -0.02 for the gross margin
The net margin for Cipher Mining Inc stands at -0.33. The total capital return value is set at -0.18. Equity return is now at value -10.03, with -8.54 for asset returns.
Based on Cipher Mining Inc (CIFR), the company’s capital structure generated 0.01 points at debt to capital in total, while cash flow to debt ratio is standing at -35.79. The debt to equity ratio resting at 0.01. The interest coverage ratio of the stock is -78.57.
Currently, EBITDA for the company is 39.7 million with net debt to EBITDA at -0.05. When we switch over and look at the enterprise to sales, we see a ratio of 15.84. The receivables turnover for the company is 534.97for 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 2.57.
Conclusion
In conclusion, Cipher Mining Inc (CIFR) has seen better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
