Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cipher Mining Inc shares valued at $23,556 were sold by Bitfury Top HoldCo B.V. on Dec 17 ’24. At $7.55 per share, Bitfury Top HoldCo B.V. sold 3,120 shares. The insider’s holdings dropped to 97,567,437 shares worth approximately $536.62 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 2,169,000 in proceeds. Following the sale of shares at $7.23 each, the insider now holds 97,820,557 shares.
Before that, Bitfury Top HoldCo B.V. had sold 250,000 shares from its account. In a trade valued at $1,855,000, the 10% Owner traded Cipher Mining Inc shares for $7.42 each. Upon closing the transaction, the insider’s holdings decreased to 250,000 shares, worth approximately $536.64 million.
As published in a research note from JP Morgan on December 10, 2024, Cipher Mining Inc [CIFR] has been rated up from a Neutral to an Overweight and the price target has been revised to $8. Analysts at Northland Capital started covering the stock with ‘”an Outperform”‘ outlook in a report released in late September. As of September 25, 2024, Macquarie has initiated its “an Outperform” rating for CIFR.
Analyzing CIFR Stock Performance
During the last five days, there has been a drop of approximately -24.07%. Over the course of the year, Cipher Mining Inc shares have jumped approximately 32.93%. 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 $6.09, while a 200-day SMA reached $4.65. Nevertheless, trading volume fell to 5.74 million shares from 10.04 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 5.30, which, if violated, would cause prices to drop to 5.09. In the upper region, resistance lies at 5.64. The next price resistance is at 5.78. RSI (Relative Strength Index) is 43.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.85, which suggests the price will decrease in the coming days. Percent R is at 87.50%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
