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 $515,970 were sold by Bitfury Top HoldCo B.V. on Nov 21 ’24. At $7.02 per share, Bitfury Top HoldCo B.V. sold 73,500 shares. The insider’s holdings dropped to 98,667,188 shares worth approximately $636.4 million following the completion of this transaction.
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Also, Bitfury Top HoldCo B.V. sold 6,900 shares, netting a total of over 48,300 in proceeds. Following the sale of shares at $7.00 each, the insider now holds 98,740,688 shares.
Before that, Kelly Patrick Arthur had sold 53,161 shares from its account. In a trade valued at $380,633, the Co-President and COO traded Cipher Mining Inc shares for $7.16 each. Upon closing the transaction, the insider’s holdings decreased to 53,161 shares, worth approximately $4.28 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 drop of approximately -0.92%. Over the course of the year, Cipher Mining Inc shares have jumped approximately 56.17%. 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 $5.15, while a 200-day SMA reached $4.38. Nevertheless, trading volume fell to 9.41 million shares from 8.84 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 5.93, which, if violated, would cause prices to drop to 5.42. In the upper region, resistance lies at 6.71. The next price resistance is at 6.97. RSI (Relative Strength Index) is 54.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.45, which suggests the price will decrease in the coming days. Percent R is at 61.11%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
