The stock of Cipher Mining Inc (NASDAQ:CIFR) last traded at $5.04, down -4.00% from the previous session.
CIFR stock price is now 26.19% away from the 50-day moving average and 23.95% away from the 200-day moving average. The market capitalization of the company currently stands at $1.87B.
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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 $499.2 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 $3.62 million. A total of 32.73% 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 2.57, and a quick ratio of 2.57. The fifty day moving average price for CIFR is $3.9732 and a two-hundred day moving average price translates $4.05445 for the stock.
The latest earnings results from Cipher Mining Inc (NASDAQ: CIFR) was released for 2024-09-30. The net profit margin was -33.39% and return on equity was -10.03% for CIFR. The company reported revenue of $24.1 million for the quarter, compared to $30.3 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -20.47 percent.
