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Cipher Mining Inc. (CIFR) Declines More Than Market: Some Information for Investors
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Cipher Mining Inc. (CIFR - Free Report) closed at $3 in the latest trading session, marking a -1.96% move from the prior day. This move lagged the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 0.33%.
Heading into today, shares of the company had lost 49.17% over the past month, lagging the Business Services sector's loss of 10.46% and the S&P 500's loss of 7.48% in that time.
Market participants will be closely following the financial results of Cipher Mining Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.11, showcasing a 184.62% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $49.65 million, up 3.13% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.38 per share and a revenue of $276.02 million, indicating changes of -171.43% and +82.47%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Cipher Mining Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 92.31% downward. Cipher Mining Inc. presently features 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 68, positioning it in the top 28% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cipher Mining Inc. (CIFR) Declines More Than Market: Some Information for Investors
Cipher Mining Inc. (CIFR - Free Report) closed at $3 in the latest trading session, marking a -1.96% move from the prior day. This move lagged the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 0.33%.
Heading into today, shares of the company had lost 49.17% over the past month, lagging the Business Services sector's loss of 10.46% and the S&P 500's loss of 7.48% in that time.
Market participants will be closely following the financial results of Cipher Mining Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.11, showcasing a 184.62% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $49.65 million, up 3.13% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.38 per share and a revenue of $276.02 million, indicating changes of -171.43% and +82.47%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Cipher Mining Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 92.31% downward. Cipher Mining Inc. presently features 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 68, positioning it in the top 28% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.