Cipher Mining Inc. (CIFR) shares rallied 27.8% in the last trading session to close at $5.98. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.5% loss over the past four weeks.
The stock's price increased in response to Bitcoin's price rise over the weekend, following Germany's liquidation of Bitcoin holdings, which alleviated selling pressure on the cryptocurrency.
On Friday evening, a failed assassination attempt on former President Donald Trump further fueled the rally, as investors viewed the increasing odds of Trump's potential second term as a positive development for cryptocurrencies.
This company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +40%. Revenues are expected to be $38.85 million, up 24.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Cipher Mining, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CIFR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Cipher Mining is part of the Zacks Technology Services industry. AirSculpt Technologies, Inc. (AIRS), another stock in the same industry, closed the last trading session 1.3% higher at $4.66. AIRS has returned 10.3% in the past month.
AirSculpt Technologies' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.13. Compared to the company's year-ago EPS, this represents no change. AirSculpt Technologies currently boasts a Zacks Rank of #4 (Sell).
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Strength Seen in Cipher Mining (CIFR): Can Its 27.8% Jump Turn into More Strength?
Cipher Mining Inc. (CIFR) shares rallied 27.8% in the last trading session to close at $5.98. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.5% loss over the past four weeks.
The stock's price increased in response to Bitcoin's price rise over the weekend, following Germany's liquidation of Bitcoin holdings, which alleviated selling pressure on the cryptocurrency.
On Friday evening, a failed assassination attempt on former President Donald Trump further fueled the rally, as investors viewed the increasing odds of Trump's potential second term as a positive development for cryptocurrencies.
This company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +40%. Revenues are expected to be $38.85 million, up 24.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Cipher Mining, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CIFR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Cipher Mining is part of the Zacks Technology Services industry. AirSculpt Technologies, Inc. (AIRS), another stock in the same industry, closed the last trading session 1.3% higher at $4.66. AIRS has returned 10.3% in the past month.
AirSculpt Technologies' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.13. Compared to the company's year-ago EPS, this represents no change. AirSculpt Technologies currently boasts a Zacks Rank of #4 (Sell).