Cipher Mining Inc. (NASDAQ: CIFR) stock jumped 4.55% on Monday to $1.15 against a previous-day closing price of $1.10. With 0.92 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.8 million shares. During the session, the Capital Markets company that operates in wider Financial sector, reached to the highest price of $1.2900 whereas the lowest price it dropped to was $1.1200. The 52-week range on CIFR shows that it touched its highest point at $3.94 and its lowest point at $0.38 during that stretch. It currently has a 1-year price target of $1.50.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CIFR was up-trending over the past week, with a rise of 3.60%, but this was up by 91.67% over a month. Three-month performance surged to 29.53% while six-month performance fell -35.75%. The stock lost -64.62% in the past year, while it has gained 105.36% so far this year. A look at the trailing 12-month EPS for CIFR yields -0.22 with Next year EPS estimates of -0.17.
Float and Shares Shorts:
At present, 247.51 million CIFR shares are outstanding with a float of 40.98 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.75 million, which was 1.92% higher than short shares on Sep 14, 2022. In addition to Mr. Rodney Tyler Page as the firm’s CEO & Director, Mr. Edward John Farrell CPA serves as its Chief Financial Officer.
Through their ownership of 11.36% of CIFR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.28% of CIFR, in contrast to 4.54% held by mutual funds. Shares owned by individuals account for 2.22%. As the largest shareholder in CIFR with 4.11% of the stake, Morgan Stanley Investment Managem holds 10,166,175 shares worth 10,166,175. A second-largest stockholder of CIFR, Point72 Asset Management LP, holds 2,982,518 shares, controlling over 1.21% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CIFR, holding 2,947,196 shares or 1.19% stake. With a 1.23% stake in CIFR, the Morgan Stanley Insight Fund is the largest stakeholder. A total of 3,039,698 shares are owned by the mutual fund manager. The Morgan Stanley Instl. Fund Tr. -, which owns about 0.97% of CIFR stock, is the second-largest Mutual Fund holder. It holds 2,392,437 shares valued at 1.34 million. Brighthouse Fds. Trust I – Morgan holds 0.77% of the stake in CIFR, owning 1,901,166 shares worth 1.06 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CIFR since 1 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CIFR analysts setting a high price target of $1.50 and a low target of $1.50, the average target price over the next 12 months is $1.50. Based on these targets, CIFR could surge 30.43% to reach the target high and rise by 30.43% to reach the target low. Reaching the average price target will result in a growth of 30.43% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. Analysts have provided yearly estimates in a range of -$0.01 being high and -$0.01 being low. For CIFR, this leads to a yearly average estimate of -$0.01. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Cipher Mining Inc. surprised analysts by $0.01 when it reported -$0.06 EPS against a consensus estimate of -$0.07. Based on analyst estimates, the high estimate for the next quarter is -$0.06 and the low estimate is -$0.06. The average estimate for the next quarter is thus -$0.06.
Summary of Insider Activity:
Insiders traded CIFR stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 35,000 shares were sold. The number of buy transactions has increased to 6 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 196,235 while 4,103,613 shares were sold.