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Cipher Mining Inc. (CIFR) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Cipher Mining Inc. (CIFR - Free Report) ended the recent trading session at $4.36, demonstrating a -1.58% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.88%. On the other hand, the Dow registered a gain of 0.08%, and the technology-centric Nasdaq decreased by 1.95%.
The company's stock has dropped by 3.06% in the past month, falling short of the Business Services sector's gain of 0.29% and the S&P 500's gain of 5.11%.
Investors will be eagerly watching for the performance of Cipher Mining Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.03, signifying a 40% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $38.85 million, indicating a 24.44% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $0 per share and a revenue of $150.64 million, demonstrating changes of +100% and +18.76%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Cipher Mining Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. At present, Cipher Mining Inc. boasts a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Cipher Mining Inc. (CIFR) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Cipher Mining Inc. (CIFR - Free Report) ended the recent trading session at $4.36, demonstrating a -1.58% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.88%. On the other hand, the Dow registered a gain of 0.08%, and the technology-centric Nasdaq decreased by 1.95%.
The company's stock has dropped by 3.06% in the past month, falling short of the Business Services sector's gain of 0.29% and the S&P 500's gain of 5.11%.
Investors will be eagerly watching for the performance of Cipher Mining Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.03, signifying a 40% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $38.85 million, indicating a 24.44% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $0 per share and a revenue of $150.64 million, demonstrating changes of +100% and +18.76%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Cipher Mining Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. At present, Cipher Mining Inc. boasts a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.