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Cipher Mining Inc. (CIFR) Stock Slides as Market Rises: Facts to Know Before You Trade
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Cipher Mining Inc. (CIFR - Free Report) closed the most recent trading day at $3.97, moving -1.98% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.04% for the day. Meanwhile, the Dow experienced a rise of 0.76%, and the technology-dominated Nasdaq saw an increase of 1.03%.
Shares of the company witnessed a loss of 12.34% over the previous month, trailing the performance of the Business Services sector with its loss of 5.54% and the S&P 500's loss of 6.74%.
Analysts and investors alike will be keeping a close eye on the performance of Cipher Mining Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on August 13, 2024. The company's earnings per share (EPS) are projected to be -$0.03, reflecting a 40% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $38.85 million, up 24.44% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0 per share and revenue of $150.64 million. These totals would mark changes of +100% and +18.76%, respectively, from last year.
Any recent changes to analyst estimates for Cipher Mining Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Right now, Cipher Mining Inc. possesses a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 99, finds itself in the top 40% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Stock Slides as Market Rises: Facts to Know Before You Trade
Cipher Mining Inc. (CIFR - Free Report) closed the most recent trading day at $3.97, moving -1.98% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.04% for the day. Meanwhile, the Dow experienced a rise of 0.76%, and the technology-dominated Nasdaq saw an increase of 1.03%.
Shares of the company witnessed a loss of 12.34% over the previous month, trailing the performance of the Business Services sector with its loss of 5.54% and the S&P 500's loss of 6.74%.
Analysts and investors alike will be keeping a close eye on the performance of Cipher Mining Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on August 13, 2024. The company's earnings per share (EPS) are projected to be -$0.03, reflecting a 40% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $38.85 million, up 24.44% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0 per share and revenue of $150.64 million. These totals would mark changes of +100% and +18.76%, respectively, from last year.
Any recent changes to analyst estimates for Cipher Mining Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Right now, Cipher Mining Inc. possesses a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 99, finds itself in the top 40% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.