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Will Cipher Mining Inc (CIFR) benefit from Wall Street bulls Calls?

Cipher Mining Inc (NASDAQ: CIFR) is -27.85% lower on its value in year-to-date trading and has touched a low of $2.15 and a high of $7.99 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 $3.01 in the last trading session, with the day’s loss setting it -0.03%.

Currently trading at $2.98, the stock is -12.71% and -31.30% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 9.36 million and changing -1.00% at the moment leaves the stock -23.63% off its SMA200. CIFR registered 3.83% gain for a year compared to 6-month loss of -24.56%.

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The stock witnessed a -22.40% gain in the last 1 month and extending the period to 3 months gives it a -40.40%, and is -4.18% 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 6.68% over the week and 7.30% over the month.

Cipher Mining Inc (CIFR) has around 35 employees, a market worth around $980.24M and $158.67M in sales. Current P/E ratio is 58.78 and Fwd P/E is 24.59. Profit margin for the company is 11.43%. Distance from 52-week low is 38.28% and -62.70% from its 52-week high. The company has generated returns on investments over the last 12 months (2.56%).

The EPS is expected to grow by 32.30% this year.

Cipher Mining Inc (CIFR) Top Institutional Holders

216.0 institutions hold shares in Cipher Mining Inc (CIFR), with institutional investors hold 43.43% of the company’s shares. The shares outstanding are 290.96M, and float is at 220.64M with Short Float at 9.82%. Institutions hold 29.12% of the Float.

The top institutional shareholder in the company is VANGUARD GROUP INC with over 13.0 million shares valued at $53.94 million. The investor’s holdings represent 4.3816% of the CIFR Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 12.31 million shares valued at $51.07 million to account for 4.1487 of the shares outstanding. The other top investors are INVESCO LTD. which holds 8.42 million shares representing 2.838% and valued at over $34.94 million, while STATE STREET CORP holds 1.9887 of the shares totaling 5.9 million with a market value of $24.48 million.

Cipher Mining Inc (CIFR) Insider Activity

The most recent transaction is an insider sale by Bitfury Top HoldCo B.V., the company’s 10% Owner. SEC filings show that Bitfury Top HoldCo B.V. sold 1,997,304 shares of the company’s common stock on Sep 10 ’24 at a price of $2.97 per share for a total of $5.93 million. Following the sale, the insider now owns 100.05 million shares.

Cipher Mining Inc disclosed in a document filed with the SEC on Sep 09 ’24 that Bitfury Top HoldCo B.V. (10% Owner) sold a total of 1,901,112 shares of the company’s common stock. The trade occurred on Sep 09 ’24 and was made at $2.87 per share for $5.46 million. Following the transaction, the insider now directly holds 102.04 million shares of the CIFR stock.

Still, SEC filings show that on Sep 06 ’24, Bitfury Top HoldCo B.V. (10% Owner) disposed off 1,901,112 shares at an average price of $2.74 for $5.21 million. The insider now directly holds 103,946,004 shares of Cipher Mining Inc (CIFR).

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