Cipher Mining Inc’s recent filing unveils that its 10% Owner Bitfury Top HoldCo B.V. unloaded Company’s shares for reported $29.5 million on Nov 09 ’23. In the deal valued at $2.95 per share,10,000,000 shares were sold. As a result of this transaction, Bitfury Top HoldCo B.V. now holds 191,931,387 shares worth roughly $823.39 million.
Then, Kelly Patrick Arthur sold 35,000 shares, generating $111,650 in total proceeds. Upon selling the shares at $3.19, the Co-President and COO now owns 235,351 shares.
Before that, Kelly Patrick Arthur sold 15,000 shares. Cipher Mining Inc shares valued at $49,800 were divested by the Co-President and COO at a price of $3.32 per share. As a result of the transaction, Kelly Patrick Arthur now holds 270,351 shares, worth roughly $1.16 million.
JP Morgan initiated its Cipher Mining Inc [CIFR] rating to a Neutral in a research note published recently. A number of analysts have revised their coverage, including BTIG Research’s analysts, who began to cover the stock in mid September with a ‘”a Buy”‘ rating. Compass Point began covering CIFR with “Buy” recommendation on June 06, 2023. Canaccord Genuity started covering the stock on April 25, 2023. It rated CIFR as “a Buy”.
Price Performance Review of CIFR
On Monday, Cipher Mining Inc [NASDAQ:CIFR] saw its stock jump 5.93% to $4.29. Over the last five days, the stock has lost -12.09%. Cipher Mining Inc shares have risen nearly 3.87% since the year began. Nevertheless, the stocks have risen 91.52% over the past one year. While a 52-week high of $5.75 was reached on 03/28/24, a 52-week low of $1.76 was recorded on 01/25/24. SMA at 50 days reached $3.63, while 200 days put it at $3.31. A total of 8.04 million shares were traded, compared to the trading of 5.03 million shares in the previous session.
Levels Of Support And Resistance For CIFR Stock
The 24-hour chart illustrates a support level at 3.95, which if violated will result in even more drops to 3.61. On the upside, there is a resistance level at 4.59. A further resistance level may holdings at 4.89. The Relative Strength Index (RSI) on the 14-day chart is 52.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.48, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 70.87%. Stochastics %K at 32.34% indicates the stock is a holding.
How much short interest is there in Cipher Mining Inc?
A steep rise in short interest was recorded in Cipher Mining Inc stocks on Mar 15, 2024, growing by 4.21 million shares to a total of 17.46 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 13.25 million shares. There was a rise of 24.11%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 10.21% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.86.
The most recent change occurred on March 14, 2023 when Cantor Fitzgerald began covering the stock and recommended ‘”a Buy”‘ rating along with a $3 price target.
