The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Cipher Mining Inc shares valued at $5,926,236 were sold by Bitfury Top HoldCo B.V. on Sep 10 ’24. At $2.97 per share, Bitfury Top HoldCo B.V. sold 1,997,304 shares. The insider’s holdings dropped to 100,047,588 shares worth approximately $309.15 million following the completion of this transaction.
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Also, Bitfury Top HoldCo B.V. sold 1,901,112 shares, netting a total of over 5,456,191 in proceeds. Following the sale of shares at $2.87 each, the insider now holds 102,044,892 shares.
Before that, Bitfury Top HoldCo B.V. had sold 1,901,112 shares from its account. In a trade valued at $5,213,841, the 10% Owner traded Cipher Mining Inc shares for $2.74 each. Upon closing the transaction, the insider’s holdings decreased to 1,901,112 shares, worth approximately $321.19 million.
Analysts at JP Morgan started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid October. As of September 15, 2023, BTIG Research has initiated its “Buy” rating for CIFR. Earlier on June 06, 2023, Compass Point initiated its rating. Their recommendation was “a Buy” for CIFR stock.
Analyzing CIFR Stock Performance
During the last five days, there has been a surge of approximately 6.92%. Over the course of the year, Cipher Mining Inc shares have dropped approximately -25.18%. Shares of the company reached a 52-week high of $7.99 on 07/17/24 and a 52-week low of $2.15 on 01/25/24. A 50-day SMA is recorded $4.40, while a 200-day SMA reached $3.90. Nevertheless, trading volume fell to 5.42 million shares from 7.74 million shares the previous day.
Support And Resistance Levels for Cipher Mining Inc (CIFR)
According to the 24-hour chart, there is a support level at 3.01, which, if violated, would cause prices to drop to 2.94. In the upper region, resistance lies at 3.15. The next price resistance is at 3.22. RSI (Relative Strength Index) is 37.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.21, which suggests the price will decrease in the coming days. Percent R is at 68.93%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
