Stocks of Cipher Mining Inc (NASDAQ:CIFR) traded higher last session on Wall Street, down -3.92% to $6.13.
CIFR stock price is now 8.80% away from the 50-day moving average and 36.13% away from the 200-day moving average. The market capitalization of the company currently stands at $2.13B.
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With the price target maintained at $8, JP Morgan recently Upgraded its rating from Neutral to Overweight for Cipher Mining Inc (NASDAQ: CIFR). On September 25, 2024, Northland Capital recently initiated its ‘Outperform’ rating on the stock quoting a target price of $6, while ‘Macquarie’ rates the stock as ‘Outperform’
In other news, Bitfury Top HoldCo B.V., 10% Owner sold 177,031 shares of the company’s stock on Dec 06 ’24. The stock was sold for $1,306,489 at an average price of $7.38. Upon completion of the transaction, the 10% Owner now directly owns 98,120,557 shares in the company, valued at $601.48 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 05 ’24, 10% Owner Bitfury Top HoldCo B.V. sold 91,982 shares of the business’s stock. A total of $665,030 was realized by selling the stock at an average price of $7.23. This leaves the insider owning 98,297,588 shares of the company worth $602.56 million. A total of 32.51% 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 $5.5889 and a two-hundred day moving average price translates $4.48955 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.
