Is Cipher Mining Inc (NASDAQ: CIFR) Back In The Buying Zone?

Currently, there are 290.96M common shares owned by the public and among those 234.43M shares have been available to trade.

The company’s stock has a 5-day price change of 8.24% and 90.88% over the past three months. CIFR shares are trading 62.23% year to date (YTD), with the 12-month market performance up to 144.53% higher. It has a 12-month low price of $2.15 and touched a high of $7.99 over the same period. CIFR has an average intraday trading volume of 10.50 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.75%, 28.22%, and 52.42% respectively.

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Institutional ownership of Cipher Mining Inc (NASDAQ: CIFR) shares accounts for 28.86% of the company’s 290.96M shares outstanding.

It has a market capitalization of $2.42B and a beta (3y monthly) value of 2.27. The earnings-per-share (ttm) stands at -$0.14. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.36% over the week and 11.29% over the month.

Earnings per share for the fiscal year are expected to decrease by -116.29%, and 92.83% over the next financial year.

Looking at the support for the CIFR, a number of firms have released research notes about the stock. Northland Capital stated their Outperform rating for the stock in a research note on September 25, 2024, with the firm’s price target at $6. Macquarie coverage for the Cipher Mining Inc (CIFR) stock in a research note released on September 25, 2024 offered a Outperform rating with a price target of $6. BTIG Research on their part issued Buy rating on September 15, 2023.

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