Cipher Mining Inc (CIFR) Is Becoming Less Appealing To Investors After A -2.64% Fall

Cipher Mining Inc (NASDAQ:CIFR) has a beta value of 2.28 and has seen 4.8 million shares traded in the last trading session. The company, currently valued at $1.20B, closed the last trade at $4.05 per share which meant it lost -$0.11 on the day or -2.64% during that session. The CIFR stock price is -41.98% off its 52-week high price of $5.75 and 56.54% above the 52-week low of $1.76. If we look at the company’s 10-day average daily trading volume, we find that it stood at 9.64 million shares traded. The 3-month trading volume is 9.28 million shares.

Cipher Mining Inc (NASDAQ:CIFR) trade information

Sporting -2.64% in the red in last session, the stock has traded in the red over the last five days, when the CIFR stock price touched $4.05 or saw a rise of 18.02%. Year-to-date, Cipher Mining Inc shares have moved -1.94%, while the 5-day performance has seen it change -21.36%. Over the past 30 days, the shares of Cipher Mining Inc (NASDAQ:CIFR) have changed 11.57%. Short interest in the company has seen 17.46 million shares shorted with days to cover at 1.86.

Cipher Mining Inc (CIFR) estimates and forecasts

Figures show that Cipher Mining Inc shares have underperformed across the wider relevant industry. The company’s shares have gained 62.65% over the past 6 months, with this year growth rate of -120.00%, compared to 16.40% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 133.30% and 20.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 33.30%.

6 analysts offering their estimates for the company have set an average revenue estimate of $49.93 million for the current quarter. 6 have an estimated revenue figure of $39.04 million for the next quarter concluding in Jun 2024. Year-ago sales stood $22.94 million and $31.22 million respectively for this quarter and the next, and analysts expect sales will grow by 117.70% for the current quarter and 25.00% for the next.

CIFR Dividends

Cipher Mining Inc is expected to release its next earnings report between May 07 and May 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

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

Insiders own 42.33% of the company shares, while shares held by institutions stand at 12.87% with a share float percentage of 22.32%. Investors are also buoyed by the number of investors in a company, with Cipher Mining Inc having a total of 162 institutions that hold shares in the company. The top two institutional holders are Vanguard Group Inc with over 3.17 million shares worth more than $9.06 million. As of Jun 29, 2023, Vanguard Group Inc held 1.26% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 2.43 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $6.96 million and represent 0.97% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are SPDR (R) Ser Tr-SPDRï¿½ Kensho New Economies Composite ETF and Vanguard Total Stock Market Index Fund. As of Aug 30, 2023, the former fund manager holds about 0.54% shares in the company for having 1.36 million shares of worth $4.35 million while later fund manager owns 1.31 million shares of worth $3.74 million as of Jun 29, 2023, which makes it owner of about 0.52% of company’s outstanding stock.