In the last trading session, 11.36 million shares of the Cipher Mining Inc (NASDAQ:CIFR) were traded, and its beta was 2.25. Most recently the company’s share price was $5.39, and it changed around -$0.27 or -4.77% from the last close, which brings the market valuation of the company to $1.77B. CIFR currently trades at a discount to its 52-week high of $7.99, offering almost -48.24% off that amount. The share price’s 52-week low was $2.15, which indicates that the current value has risen by an impressive 60.11% since then. We note from Cipher Mining Inc’s average daily trading volume that its 10-day average is 11.03 million shares, with the 3-month average coming to 9.32 million.
Cipher Mining Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.20. If we narrow it down even further, the data shows that 0 out of 9 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 1 recommended CIFR as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Cipher Mining Inc is expected to report earnings per share of -0.08 for the current quarter.
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Cipher Mining Inc (NASDAQ:CIFR) trade information
Instantly CIFR has showed a red trend with a performance of -4.77% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 5.85 on recent trading dayincreased the stock’s daily price by 7.86%. The company’s shares are currently up 30.51% year-to-date, but still down -2.00% over the last five days. On the other hand, Cipher Mining Inc (NASDAQ:CIFR) is 39.28% up in the 30-day period. We can see from the shorts that 23.3 million shares have been sold at a short interest cover period of 2.22 day(s).
The consensus price target as assigned by Wall Street analysts is $7.5, which translates to bulls needing to increase their stock price by 28.13% from its current value. Analyst projections state that CIFR is forecast to be at a low of $6 and a high of $9.
Cipher Mining Inc (CIFR) estimates and forecasts
Cipher Mining Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 44.89 percent over the past six months and at a 50.00% annual growth rate that is well above the industry average of 18.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -14.30% in revenue this quarter, and will report a decrease of -180.00% in the next quarter. The year-over-year growth rate is expected to be 24.60%, up from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of 29.22M in revenue for the current quarter. 9 analysts expect Cipher Mining Inc to make 43.9M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 30.3M and 43.42M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -3.60%. Forecasts for the next quarter put sales growth at 1.10%.
CIFR Dividends
Cipher Mining Inc’s next quarterly earnings report is expected to be released in November.
Cipher Mining Inc (NASDAQ:CIFR)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 32.92% of Cipher Mining Inc shares, and 29.17% of them are in the hands of institutional investors. The stock currently has a share float of 43.48%. Cipher Mining Inc stock is held by 224.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 4.3816% of the shares, which is about 13.0 million shares worth $53.94 million.
BLACKROCK INC., with 4.1487% or 12.31 million shares worth $51.07 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
