Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Cipher Mining Inc shares valued at $392,478 were purchased by Kelly Patrick Arthur on Oct 15 ’24. At $4.37 per share, Kelly Patrick Arthur acquired 89,742 shares.
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Also, Iwaschuk William sold 150,000 shares, netting a total of over 591,000 in proceeds. Following the sale of shares at $3.94 each, the insider now holds 619,148 shares.
Before that, Iwaschuk William had added 150,000 shares to its account. In a trade valued at $591,502, the Officer bought Cipher Mining Inc shares for $3.94 each.
As published in their initiating research note from Northland Capital on September 25, 2024, Cipher Mining Inc [CIFR] has been an Outperform and the price target has been revised to $6. Analysts at Macquarie started covering the stock with ‘”an Outperform”‘ outlook in a report released in late September. Earlier on October 11, 2023, JP Morgan initiated its rating. Their recommendation was “a Neutral” for CIFR stock.
Analyzing CIFR Stock Performance
During the last five days, there has been a surge of approximately 32.89%. Over the course of the year, Cipher Mining Inc shares have jumped approximately 21.31%. 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 $3.65, while a 200-day SMA reached $3.95. Nevertheless, trading volume fell to 15.04 million shares from 11.94 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 4.58, which, if violated, would cause prices to drop to 4.15. In the upper region, resistance lies at 5.24. The next price resistance is at 5.47. RSI (Relative Strength Index) is 71.00 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.52, which suggests the price will decrease in the coming days. Percent R is at 1.91%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
