In yesterday’s Wall Street session, Cipher Mining Inc (NASDAQ:CIFR) shares traded at $6.51, down -2.54% from the previous session.
CIFR stock price is now 35.08% away from the 50-day moving average and 51.21% away from the 200-day moving average. The market capitalization of the company currently stands at $2.26B.
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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, Kelly Patrick Arthur, Co-President and COO sold 53,161 shares of the company’s stock on Nov 08 ’24. The stock was sold for $380,633 at an average price of $7.16. Upon completion of the transaction, the Co-President and COO now directly owns 664,270 shares in the company, valued at $4.32 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 07 ’24, 10% Owner Bitfury Top HoldCo B.V. sold 300,000 shares of the business’s stock. A total of $1,980,000 was realized by selling the stock at an average price of $6.60. This leaves the insider owning 98,747,588 shares of the company worth $642.85 million. A total of 32.62% 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 $4.7511 and a two-hundred day moving average price translates $4.285675 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.
