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Cipher Mining Inc. (CIFR) Stock Sinks As Market Gains: Here's Why
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Cipher Mining Inc. (CIFR - Free Report) closed the most recent trading day at $17.54, moving -3.41% from the previous trading session. This move lagged the S&P 500's daily gain of 0.62%. At the same time, the Dow added 0.99%, and the tech-heavy Nasdaq gained 0.65%.
Shares of the company witnessed a loss of 6.78% over the previous month, trailing the performance of the Business Services sector with its gain of 1.64%, and the S&P 500's gain of 0.59%.
The investment community will be closely monitoring the performance of Cipher Mining Inc. in its forthcoming earnings report. The company is expected to report EPS of -$0.12, down 300% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $79.59 million, indicating a 88.5% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.36 per share and a revenue of $243.54 million, signifying shifts of -157.14% and 0%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Cipher Mining Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Cipher Mining Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Cipher Mining Inc. (CIFR) Stock Sinks As Market Gains: Here's Why
Cipher Mining Inc. (CIFR - Free Report) closed the most recent trading day at $17.54, moving -3.41% from the previous trading session. This move lagged the S&P 500's daily gain of 0.62%. At the same time, the Dow added 0.99%, and the tech-heavy Nasdaq gained 0.65%.
Shares of the company witnessed a loss of 6.78% over the previous month, trailing the performance of the Business Services sector with its gain of 1.64%, and the S&P 500's gain of 0.59%.
The investment community will be closely monitoring the performance of Cipher Mining Inc. in its forthcoming earnings report. The company is expected to report EPS of -$0.12, down 300% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $79.59 million, indicating a 88.5% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.36 per share and a revenue of $243.54 million, signifying shifts of -157.14% and 0%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Cipher Mining Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Cipher Mining Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.