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Cipher Mining Inc. (NASDAQ: CIFR): A Disaster In The Making Or A Gold Mine?

In the last trading session, 1.04 million shares of the Cipher Mining Inc. (NASDAQ:CIFR) were traded. Most recently the company’s share price was $2.45, and it changed around -$0.04 or -1.61% from the last close, which brings the market valuation of the company to $573.77M. CIFR currently trades at a discount to its 52-week high of $3.32, offering almost -35.51% off that amount. The share price’s 52-week low was $0.38, which indicates that the current value has risen by an impressive 84.49% since then. We note from Cipher Mining Inc.’s average daily trading volume that its 10-day average is 0.97 million shares, with the 3-month average coming to 1.45 million.

Cipher Mining Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 1.70. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended CIFR as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Cipher Mining Inc. is expected to report earnings per share of -$0.02 for the current quarter.

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Cipher Mining Inc. (NASDAQ:CIFR) trade information

Instantly CIFR has showed a red trend with a performance of -1.61% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 2.62 on Tuesday, 05/23/23 increased the stock’s daily price by 6.49%. The company’s shares are currently up 337.50% year-to-date, but still up 0.41% over the last five days. On the other hand, Cipher Mining Inc. (NASDAQ:CIFR) is 17.79% up in the 30-day period. We can see from the shorts that 8.18 million shares have been sold at a short interest cover period of 5.57 day(s).

The consensus price target as assigned by Wall Street analysts is $3.50, which translates to bulls needing to increase their stock price by 30.0% from its current value. Analyst projections state that CIFR is forecast to be at a low of $3.00 and a high of $4.00. In order for the stock price to hit the forecast high, the stock would need to plunge -63.27% from its current level, while the stock would need to crash -22.45% from its current level to reach the projected low.

Cipher Mining Inc. (CIFR) estimates and forecasts

Cipher Mining Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 175.25 percent over the past six months and at a 6.25% annual growth rate that is well below the industry average of 17.90%. The year-over-year growth rate is expected to be 4,527.60%, up from the previous year.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $34.23 million in revenue for the current quarter. 4 analysts expect Cipher Mining Inc. to make $40.14 million in revenue for the quarter ending Sep 2023.

CIFR Dividends

Cipher Mining Inc.’s next quarterly earnings report is expected to be released around August 07 and August 11.

Cipher Mining Inc. (NASDAQ:CIFR)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 83.43% of Cipher Mining Inc. shares, and 5.05% of them are in the hands of institutional investors. The stock currently has a share float of 30.46%. Cipher Mining Inc. stock is held by 107 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 1.20% of the shares, which is about 3.0 million shares worth $7.35 million.

Blackrock Inc., with 0.82% or 2.05 million shares worth $5.03 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Information Technology Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 1.31 million shares worth $3.21 million, making up 0.53% of all outstanding shares. On the other hand, Vanguard Information Technology Index Fund held roughly 0.94 million shares worth around $2.31 million, which represents about 0.38% of the total shares outstanding.

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