We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cipher Mining Inc. (CIFR) Suffers a Larger Drop Than the General Market: Key Insights
Read MoreHide Full Article
In the latest trading session, Cipher Mining Inc. (CIFR - Free Report) closed at $3.82, marking a -0.78% move from the previous day. This move lagged the S&P 500's daily loss of 0.17%. Meanwhile, the Dow lost 0.44%, and the Nasdaq, a tech-heavy index, lost 0.04%.
Shares of the company witnessed a gain of 29.41% over the previous month, beating the performance of the Business Services sector with its gain of 1.44% and the S&P 500's gain of 1.25%.
Market participants will be closely following the financial results of Cipher Mining Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.06, marking a 14.29% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $28.81 million, indicating a 4.92% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.05 per share and revenue of $154.1 million. These totals would mark changes of +50% and +21.49%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Cipher Mining Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 10% higher. Right now, Cipher Mining Inc. possesses a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 59, positioning it in the top 24% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Cipher Mining Inc. (CIFR) Suffers a Larger Drop Than the General Market: Key Insights
In the latest trading session, Cipher Mining Inc. (CIFR - Free Report) closed at $3.82, marking a -0.78% move from the previous day. This move lagged the S&P 500's daily loss of 0.17%. Meanwhile, the Dow lost 0.44%, and the Nasdaq, a tech-heavy index, lost 0.04%.
Shares of the company witnessed a gain of 29.41% over the previous month, beating the performance of the Business Services sector with its gain of 1.44% and the S&P 500's gain of 1.25%.
Market participants will be closely following the financial results of Cipher Mining Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.06, marking a 14.29% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $28.81 million, indicating a 4.92% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.05 per share and revenue of $154.1 million. These totals would mark changes of +50% and +21.49%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Cipher Mining Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 10% higher. Right now, Cipher Mining Inc. possesses a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 59, positioning it in the top 24% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.