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Why Cipher Mining Inc (CIFR) Stock Could See Much Higher Prices Ahead

Cipher Mining Inc (NASDAQ: CIFR) is -9.93% lower on its value in year-to-date trading and has touched a low of $1.87 and a high of $5.75 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CIFR stock was last observed hovering at around $3.72 in the last trading session, with the day’s loss setting it 0.0%.

Currently trading at $3.72, the stock is -7.13% and -7.59% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.86 million and changing 0.00% at the moment leaves the stock 11.50% off its SMA200. CIFR registered 85.07% gain for a year compared to 6-month gain of 19.23%.

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The stock witnessed a -2.75% loss in the last 1 month and extending the period to 3 months gives it a -4.62%, and is -16.78% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 10.57% over the week and 10.03% over the month.

Cipher Mining Inc (CIFR) has around 35 employees, a market worth around $1.15B and $153.08M in sales. Current P/E ratio is 76.86 and Fwd P/E is 12.78. Profit margin for the company is 13.54%. Distance from 52-week low is 98.93% and -35.30% from its 52-week high. The company has generated returns on investments over the last 12 months (3.36%).

with sales reaching $39.96M over the same period.The EPS is expected to grow by 116.64% this year, but quarterly earnings will post 31.40% year-over-year. Quarterly sales are estimated to grow 28.00% in year-over-year returns.

Cipher Mining Inc (CIFR) Top Institutional Holders

The shares outstanding are 290.96M, and float is at 178.46M with Short Float at 9.27%.

Cipher Mining Inc (CIFR) Insider Activity

The most recent transaction is an insider sale by Bitfury Top HoldCo B.V.,the company’s10% Owner. SEC filings show that Bitfury Top HoldCo B.V. sold 10,000,000 shares of the company’s common stock on Nov 09 ’23 at a price of $2.95 per share for a total of $29.5 million. Following the sale, the insider now owns 191.93 million shares.

Cipher Mining Inc disclosed in a document filed with the SEC on Aug 17 ’23 that Kelly Patrick Arthur (Co-President and COO) sold a total of 35,000 shares of the company’s common stock. The trade occurred on Aug 17 ’23 and was made at $3.19 per share for $0.11 million. Following the transaction, the insider now directly holds 0.24 million shares of the CIFR stock.

Still, SEC filings show that on Aug 16 ’23, Kelly Patrick Arthur (Co-President and COO) disposed off 15,000 shares at an average price of $3.32 for $49800.0. The insider now directly holds 270,351 shares of Cipher Mining Inc (CIFR).

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