Cipher Mining Inc (NASDAQ:CIFR) shares, rose in value, with the stock price down by -4.53% to the previous day’s close as strong demand from buyers drove the stock to $4.43.
Actively observing the price movement in the last trading, the stock closed the session at $4.64. Referring to stock’s 52-week performance, its high was $5.75, and the low was $1.76. On the whole, CIFR has fluctuated by -15.13% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 167.96M, with a low estimate of 45.2M and a high estimate of 55.56M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 50.75M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that CIFR’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CIFR currently trading nearly 4.43% and 13.82% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 54.89, while the 7-day volatility ratio is showing 11.51% which for the 30-day chart, stands at 10.20%. Furthermore, Cipher Mining Inc (CIFR)’s beta value is 2.24, and its average true range (ATR) is 0.46.
A comparison of Cipher Mining Inc (CIFR) with its peers suggests the former has fared considerably weaker in the market. CIFR showed an intraday change of -4.53% in last session, and over the past year, it grew by 101.36%%.
Data on historical trading for Cipher Mining Inc (NASDAQ:CIFR) indicates that the trading volumes over the past 3 months, they’ve averaged 8.92 million. According to company’s latest data on outstanding shares, there are 290.96 million shares outstanding.
Nearly 42.33% of Cipher Mining Inc’s shares belong to company insiders and institutional investors own 12.28% of the company’s shares. The stock has risen by 7.26% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CIFR stock heading into the next quarter.
