Cipher Mining Inc (NASDAQ: CIFR): Performance Review And Growth Outlook

In the last trading session, 12.15 million Cipher Mining Inc (NASDAQ:CIFR) shares changed hands as the company’s beta touched 2.14. With the company’s per share price at $3.35 changed hands at $0.45 or 15.52% during last session, the market valuation stood at $853.11M. CIFR’s last price was a discount, traded about -67.16% off its 52-week high of $5.60. The share price had its 52-week low at $1.26, which suggests the last value was 62.39% up since then. When we look at Cipher Mining Inc’s average trading volume, we note the 10-day average is 8.06 million shares, with the 3-month average coming to 1.46.

Cipher Mining Inc (NASDAQ:CIFR) trade information

Instantly CIFR was in green as seen at the end of in last trading. With action 25.00%, the performance over the past five days has been green. The jump to weekly highs of 3.44 added 15.52% to the stock’s daily price. The company’s shares are showing year-to-date downside of -18.89%, with the 5-day performance at 25.00% in the green. However, in the 30-day time frame, Cipher Mining Inc (NASDAQ:CIFR) is -11.61% down. Looking at the short shares, we see there were 13.55 million shares sold at short interest cover period of 1.55 days.

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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 -6.16% over the past 6 months, a -37.50% in annual growth rate that is considerably lower than the industry average of 8.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Cipher Mining Inc will rise 81.00%, while the growth in revenue is estimated to hit 33.30% for the next quarter. Year-over-year growth is forecast to reach 3,999.10% up from the last financial year.

Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $40.5 million. 5 analysts are of the opinion that Cipher Mining Inc’s revenue for the quarter ending Mar 2024 will be $44.52 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 1,233.60%. The estimates for the next quarter sales put growth at 94.10%.

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

If we look at who the major shareholders are, we find that insiders hold 71.07% of Cipher Mining Inc shares while 8.33% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 28.80%. There are 8.33% 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-SPDR� 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.

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