In the last trading session, 1.57 million Cipher Mining Inc (NASDAQ:CIFR) shares changed hands as the company’s beta touched 2.00. With the company’s per share price at $2.47 changed hands at -$0.03 or -1.00% during last session, the market valuation stood at $630.28M. CIFR’s last price was a discount, traded about -114.57% off its 52-week high of $5.30. The share price had its 52-week low at $0.38, which suggests the last value was 84.62% up since then. When we look at Cipher Mining Inc’s average trading volume, we note the 10-day average is 3.32 million shares, with the 3-month average coming to 1.72 million.
Analysts gave the Cipher Mining Inc (CIFR) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.29. If we narrow down to specifics, the data shows that 0 out of 7 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended CIFR as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Cipher Mining Inc’s EPS for the current quarter is expected to be -$0.05.
Cipher Mining Inc (NASDAQ:CIFR) trade information
Instantly CIFR was in red as seen at the end of in last trading. With action -16.95%, the performance over the past five days has been red. The drop to weekly highs of 3.10 on Friday, 11/17/23 subtracted -1.00% to the stock’s daily price. The company’s shares are showing year-to-date upside of 341.96%, with the 5-day performance at -16.95% in the red. However, in the 30-day time frame, Cipher Mining Inc (NASDAQ:CIFR) is -3.70% down. Looking at the short shares, we see there were 14.13 million shares sold at short interest cover period of 9.5 days.
The consensus price target for the stock as assigned by Wall Street analysts is $5.21, meaning bulls need an upside of 52.59% from its current market value. According to analyst projections, CIFR’s forecast low is $4.25 with $6.00 as the target high. To hit the forecast high, the stock’s price needs a -142.91% plunge from its current level, while the stock would need to soar -72.06% for it to hit the projected low.
Cipher Mining Inc (CIFR) estimates and forecasts
Data shows that the Cipher Mining Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -2.17% over the past 6 months, a -18.75% in annual growth rate that is considerably lower than the industry average of 12.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Cipher Mining Inc will rise 76.20%, while the growth in revenue is estimated to hit -33.30% for the next quarter. Year-over-year growth is forecast to reach 3,864.40% up from the last financial year.
Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $36.9 million. 6 analysts are of the opinion that Cipher Mining Inc’s revenue for the quarter ending Mar 2024 will be $41.05 million. The company’s revenue for the corresponding quarters a year ago was $3.04 million and $22.94 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 1,115.00%. The estimates for the next quarter sales put growth at 78.90%.
The 2023 estimates are for Cipher Mining Inc earnings to increase by 24.07%.
Cipher Mining Inc is expected to release its next quarterly earnings report on November 08.
Cipher Mining Inc (NASDAQ:CIFR)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 83.37% of Cipher Mining Inc shares while 5.59% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 33.63%. There are 5.59% institutions holding the Cipher Mining Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 1.26% of the shares, roughly 3.17 million CIFR shares worth $9.06 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 0.97% or 2.43 million shares worth $6.96 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were SPDR (R) Ser Tr-SPDRï¿½ Kensho New Economies Composite ETF and Vanguard Total Stock Market Index Fund. With 1.36 million shares estimated at $4.35 million under it, the former controlled 0.54% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 0.52% of the shares, roughly 1.31 million shares worth around $3.74 million.