Cipher Mining Inc (NASDAQ: CIFR) Has Gained 3.75% YTD: Is There Trouble Ahead?

During the recent session, Cipher Mining Inc (NASDAQ:CIFR)’s traded shares were 2.55 million, with the beta value of the company hitting 2.26. At the last check today, the stock’s price was $4.28, reflecting an intraday loss of -1.49% or -$0.07. The 52-week high for the CIFR share is $5.75, that puts it down -34.35 from that peak though still a striking 58.88% gain since the share price plummeted to a 52-week low of $1.76. The company’s market capitalization is $1.27B, and the average intraday trading volume over the past 10 days was 11.34 million shares, and the average trade volume was 9.32 million shares over the past three months.

Cipher Mining Inc (NASDAQ:CIFR) trade information

Cipher Mining Inc (CIFR) registered a -1.49% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.49% in intraday trading to $4.28, hitting a weekly high. The stock’s 5-day price performance is -19.61%, and it has moved by 50.35% in 30 days. Based on these gigs, the overall price performance for the year is 78.54%. The short interest in Cipher Mining Inc (NASDAQ:CIFR) is 17.46 million shares and it means that shorts have 1.86 day(s) to cover.

Cipher Mining Inc (CIFR) estimates and forecasts

Statistics show that Cipher Mining Inc has underperformed its competitors in share price, compared to the industry in which it operates. Cipher Mining Inc (CIFR) shares have gone up 85.10% during the last six months, with a year-to-date growth rate less than the industry average at -120.00% against 17.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 133.30% this quarter and then jump 20.00% in the quarter after that. In the rating firms’ projections, revenue will increase 33.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $49.93 million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $39.04 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $22.94 million and $31.22 million respectively. In this case, analysts expect current quarter sales to grow by 117.70% and then jump by 25.00% in the coming quarter.

CIFR Dividends

Cipher Mining Inc is due to release its next quarterly earnings between May 07 and May 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Cipher Mining Inc insiders own 42.33% of total outstanding shares while institutional holders control 12.87%, with the float percentage being 22.32%. Vanguard Group Inc is the largest shareholder of the company, while 162 institutions own stock in it. As of Jun 29, 2023, the company held over 3.17 million shares (or 1.26% of all shares), a total value of $9.06 million in shares.

The next largest institutional holding, with 2.43 million shares, is of Blackrock Inc.’s that is approximately 0.97% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $6.96 million.

Also, the Mutual Funds coming in first place with the largest holdings of Cipher Mining Inc (CIFR) shares are SPDR (R) Ser Tr-SPDRï¿½ Kensho New Economies Composite ETF and Vanguard Total Stock Market Index Fund. Data provided on Aug 30, 2023 indicates that SPDR (R) Ser Tr-SPDRï¿½ Kensho New Economies Composite ETF owns about 1.36 million shares. This amounts to just over 0.54 percent of the company’s overall shares, with a $4.35 million market value. The same data shows that the other fund manager holds slightly less at 1.31 million, or about 0.52% of the stock, which is worth about $3.74 million.