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 $380,633 were sold by Kelly Patrick Arthur on Nov 08 ’24. At $7.16 per share, Kelly Patrick Arthur sold 53,161 shares. The insider’s holdings dropped to 664,270 shares worth approximately $4.32 million following the completion of this transaction.
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Also, Bitfury Top HoldCo B.V. sold 300,000 shares, netting a total of over 1,980,000 in proceeds. Following the sale of shares at $6.60 each, the insider now holds 98,747,588 shares.
Before that, Kelly Patrick Arthur had added 53,161 shares to its account. In a trade valued at $380,486, the Officer bought Cipher Mining Inc shares for $7.16 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 drop of approximately -1.66%. Over the course of the year, Cipher Mining Inc shares have jumped approximately 57.63%. 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 $4.82, while a 200-day SMA reached $4.31. Nevertheless, trading volume fell to 10.53 million shares from 5.14 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 6.22, which, if violated, would cause prices to drop to 5.94. In the upper region, resistance lies at 6.90. The next price resistance is at 7.29. RSI (Relative Strength Index) is 58.65 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.08, which suggests the price will decrease in the coming days. Percent R is at 43.45%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
