Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cipher Mining Inc shares valued at $392,442 were sold by Kelly Patrick Arthur on Oct 15 ’24. At $4.37 per share, Kelly Patrick Arthur sold 89,742 shares. The insider’s holdings dropped to 717,431 shares worth approximately $3.69 million following the completion of this transaction.
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Also, Kelly Patrick Arthur purchased 89,742 shares, netting a total of over 392,478 in proceeds.
Before that, Iwaschuk William had sold 150,000 shares from its account. In a trade valued at $591,000, the Co-President and CLO traded Cipher Mining Inc shares for $3.94 each. Upon closing the transaction, the insider’s holdings decreased to 150,000 shares, worth approximately $3.19 million.
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 2.79%. Over the course of the year, Cipher Mining Inc shares have jumped approximately 24.70%. 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 $3.76, while a 200-day SMA reached $3.98. Nevertheless, trading volume fell to 10.67 million shares from 9.96 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 4.93, which, if violated, would cause prices to drop to 4.71. In the upper region, resistance lies at 5.39. The next price resistance is at 5.63. RSI (Relative Strength Index) is 65.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.83, which suggests the price will decrease in the coming days. Percent R is at 19.10%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
