Cipher Mining Inc (NASDAQ:CIFR) shares traded -4.77% lower at $5.39 on Wall Street last session.
CIFR stock price is now 38.21% away from the 50-day moving average and 34.12% away from the 200-day moving average. The market capitalization of the company currently stands at $1.77B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target of $6, Northland Capital recently initiated with Outperform rating for Cipher Mining Inc (NASDAQ: CIFR). On September 25, 2024, Macquarie recently initiated its ‘Outperform’ rating on the stock quoting a target price of $6, while ‘Cantor Fitzgerald’ rates the stock as ‘Overweight’
In other news, Bitfury Top HoldCo B.V., 10% Owner sold 1,000,000 shares of the company’s stock on Oct 28 ’24. The stock was sold for $6,220,000 at an average price of $6.22. Upon completion of the transaction, the 10% Owner now directly owns 99,047,588 shares in the company, valued at $533.87 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 15 ’24, Co-President and COO Kelly Patrick Arthur sold 89,742 shares of the business’s stock. A total of $392,442 was realized by selling the stock at an average price of $4.37. This leaves the insider owning 717,431 shares of the company worth $3.87 million. A total of 33.03% of the company’s stock is owned by insiders.
During the past 12 months, Cipher Mining Inc has had a low of $2.15 and a high of $7.99. As of last week, the company has a debt-to-equity ratio of 0.03, a current ratio of 8.49, and a quick ratio of 8.49. The fifty day moving average price for CIFR is $3.8998 and a two-hundred day moving average price translates $4.0188 for the stock.
The latest earnings results from Cipher Mining Inc (NASDAQ: CIFR) was released for 2024-06-30. The net profit margin was 11.43% and return on equity was 3.51% for CIFR. The company reported revenue of $36.81 million for the quarter, compared to $31.22 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 17.88 percent.
