Cipher Mining Inc (NASDAQ: CIFR) Stock Could Reward Investors With A Gain Of 25.56%

In today’s recent session, 4.42 million shares of the Cipher Mining Inc (NASDAQ:CIFR) have been traded, and its beta is 2.24. Most recently the company’s share price was $4.03, and it changed around -$0.85 or -17.37% from the last close, which brings the market valuation of the company to $1.20B. CIFR at last check was trading at a discount to its 52-week high of $5.75, offering almost -42.68% off that amount. The share price’s 52-week low was $1.76, which indicates that the recent value has risen by an impressive 56.33% since then. We note from Cipher Mining Inc’s average daily trading volume that its 10-day average is 12.62 million shares, with the 3-month average coming to 9.42 million.

Cipher Mining Inc (NASDAQ:CIFR) trade information

Instantly CIFR has been showing red trend so far today with a performance of -17.37% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently down -2.36% year-to-date, but still down -23.34% over the last five days. On the other hand, Cipher Mining Inc (NASDAQ:CIFR) is 30.50% up in the 30-day period. We can see from the shorts that 17.46 million shares have been sold at a short interest cover period of 1.86 day(s).

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The consensus price target as assigned by Wall Street analysts is $3, which translates to bulls needing to decrease their stock price by -34.33% from its current value. Analyst projections state that CIFR is forecast to be at a low of $3 and a high of $3.

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 73.07 percent over the past six months and at a -120.00% annual growth rate that is well below the industry average of 17.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 100.00% in revenue this quarter, and will report an increase of 20.00% in the next quarter. The year-over-year growth rate is expected to be 36.20%, up from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $49.54 million in revenue for the current quarter. 5 analysts expect Cipher Mining Inc to make $39.42 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $22.94 million and $31.22 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 116.00%. Forecasts for the next quarter put sales growth at 26.20%.

CIFR Dividends

Cipher Mining Inc’s next quarterly earnings report is expected to be released around May 07 and May 13.

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

Upon looking at major shareholders, it appears that insiders hold 42.33% of Cipher Mining Inc shares, and 12.87% of them are in the hands of institutional investors. The stock currently has a share float of 22.32%. Cipher Mining Inc stock is held by 162 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 1.26% of the shares, which is about 3.17 million shares worth $9.06 million.

Blackrock Inc., with 0.97% or 2.43 million shares worth $6.96 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Aug 30, 2023. The former held 1.36 million shares worth $4.35 million, making up 0.54% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.31 million shares worth around $3.74 million, which represents about 0.52% of the total shares outstanding.