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Keeping an Eye on Cipher Mining Inc (CIFR) After Insider Trading Activity

Cipher Mining Inc’s filing revealed that its 10% Owner Bitfury Top HoldCo B.V. unloaded Company’s shares for reported $2.02 million on Jun 28 ’24. In the deal valued at $4.12 per share,490,275 shares were sold. As a result of this transaction, Bitfury Top HoldCo B.V. now holds 110,520,831 shares worth roughly $521.66 million.

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Then, Bitfury Top HoldCo B.V. sold 478,606 shares, generating $1,995,787 in total proceeds. Upon selling the shares at $4.17, the 10% Owner now owns 111,011,106 shares.

Before that, Bitfury Top HoldCo B.V. sold 466,915 shares. Cipher Mining Inc shares valued at $2,007,734 were divested by the 10% Owner at a price of $4.30 per share. As a result of the transaction, Bitfury Top HoldCo B.V. now holds 111,489,712 shares, worth roughly $526.23 million.

A number of analysts have revised their coverage, including JP Morgan’s analysts, who began to cover the stock in mid October with a ‘”a Neutral”‘ rating. BTIG Research began covering CIFR with “Buy” recommendation on September 15, 2023. Compass Point started covering the stock on June 06, 2023. It rated CIFR as “a Buy”.

Price Performance Review of CIFR

On Monday, Cipher Mining Inc [NASDAQ:CIFR] saw its stock jump 13.73% to $4.72. Over the last five days, the stock has gained 10.54%. Cipher Mining Inc shares have risen nearly 14.29% since the year began. Nevertheless, the stocks have risen 62.76% over the past one year. While a 52-week high of $5.89 was reached on 06/20/24, a 52-week low of $2.15 was recorded on 01/25/24. SMA at 50 days reached $4.18, while 200 days put it at $3.50. A total of 13.94 million shares were traded, compared to the trading of 25.48 million shares in the previous session.

Levels Of Support And Resistance For CIFR Stock

The 24-hour chart illustrates a support level at 4.38, which if violated will result in even more drops to 4.05. On the upside, there is a resistance level at 4.90. A further resistance level may holdings at 5.08. The Relative Strength Index (RSI) on the 14-day chart is 57.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 54.93%. Stochastics%K at 27.86% indicates the stock is a holding.

The most recent change occurred on April 25, 2023 when Canaccord Genuity began covering the stock and recommended ‘”a Buy”‘ rating along with a $4 price target.

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