Cipher Mining Inc. (CIFR) closed the most recent trading day at $16.97, moving -5.67% from the previous trading session. This change lagged the S&P 500's daily loss of 2.71%. On the other hand, the Dow registered a loss of 1.9%, and the technology-centric Nasdaq decreased by 3.56%.
The company's shares have seen an increase of 80.44% over the last month, surpassing the Business Services sector's loss of 2.46% and the S&P 500's gain of 3.5%.
The upcoming earnings release of Cipher Mining Inc. will be of great interest to investors. The company's upcoming EPS is projected at -$0.08, signifying a 69.23% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $75.48 million, up 213.2% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$0.36 per share and a revenue of $264.16 million, demonstrating changes of -157.14% and +74.63%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Cipher Mining Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 14.74% lower. As of now, Cipher Mining Inc. holds a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 90, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Cipher Mining Inc. (CIFR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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