Taking a Closer Look At Cipher Mining Inc. (CIFR) Following Its Recent Trade


Cipher Mining Inc.’s recently made public that its Co-President and COO Kelly Patrick Arthur unloaded Company’s shares for reported $0.11 million on Aug 17. In the deal valued at $3.19 per share,35,000 shares were sold. As a result of this transaction, Kelly Patrick Arthur now holds 235,351 shares worth roughly $ 0.67 million.

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Then, Kelly Patrick Arthur sold 15,000 shares, generating $49,800 in total proceeds. Upon selling the shares at $3.32, the Co-President and COO now owns 270,351 shares.

Before that, Iwaschuk William sold 100,000 shares. Cipher Mining Inc. shares valued at $358,000 were divested by the Co-President and CLO at a price of $3.58 per share. As a result of the transaction, Iwaschuk William now holds 173,989 shares, worth roughly $0.5 million.

BTIG Research initiated its Cipher Mining Inc. [CIFR] rating to a Buy in a research note published on Monday, September 15, 2023; the price target was $6. PT values the company’s stock at a premium of 52.33 to its Monday closing price.

Price Performance Review of CIFR

On Monday, Cipher Mining Inc. [NASDAQ:CIFR] saw its stock fall -0.35% to $2.86. On the same session, the stock had its day’s lowest price of $2.85, but rose to a high of $3.14. Over the last five days, the stock has gained 2.51%. Cipher Mining Inc. shares have risen nearly 410.71% since the year began. Nevertheless, the stocks have risen 71.26% over the past one year. While a 52-week high of $5.30 was reached on 07/13/23, a 52-week low of $0.38 was recorded on 01/03/23. SMA at 50 days reached $3.53, while 200 days put it at $2.27. A total of 0.88 million shares were traded, compared to the trading of 1.06 million shares in the previous session.

Levels Of Support And Resistance For CIFR Stock

The 24-hour chart illustrates a support level at 2.76, which if violated will result in even more drops to 2.66. On the upside, there is a resistance level at 3.05. A further resistance level may holdings at 3.24. The Relative Strength Index (RSI) on the 14-day chart is 41.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.14, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 82.56%. Stochastics %K at 16.28% indicates the stock is a buying.

How much short interest is there in Cipher Mining Inc.?

A steep rise in short interest was recorded in Cipher Mining Inc. stocks on Aug 30, 2023, growing by 2.33 million shares to a total of 12.49 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 10.16 million shares. There was a rise of 18.65%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 28.70% of the overall stock float, the days-to-cover ratio (short ratio) rose to 7.41.

Cipher Mining Inc. [CIFR] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 3,128,236 shares, or roughly 1.25% of the outstanding CIFR shares. In other words, the investor’s shares have risen by 169,137 from its previous 13-F filing of 2959099.0. Additionally, BlackRock Fund Advisors increased 18.63% of its stake after which the total value it holdings stand at $7,020,086, while SSgA Funds Management, Inc. added 207.95% of its stake to hold $7.01 million in the firm. Over the last quarter, Geode Capital Management LLC purchased 339,798 shares of Cipher Mining Inc., while Van Eck Associates Corp. bought 68,800 shares. At present, Global X Management Co. LLC is holding 918,908 shares valued at $2.93 million. Mint Tower Capital BV owned 573,475 shares of the company at the time of its most recent 13F filing, worth $1.83 million.

According to FactSet, Cipher Mining Inc.’s share price will average $5.25 in the next year, based on opinions of analysts polled by the firm. This is up nearly 82.93 percent from its previous closing price of $2.87. Analysts expect Cipher Mining Inc. stock to reach the higher price of $6.00, while the lowest price estimate is $4.50. However, 6 analysts have rated CIFR stock as a Buy in their predictions for 2023.


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