Cipher Mining Inc. (CIFR) closed the most recent trading day at $5.79, moving -4.3% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.79% for the day. On the other hand, the Dow registered a loss of 0.94%, and the technology-centric Nasdaq decreased by 0.92%.
Heading into today, shares of the company had gained 55.13% over the past month, outpacing the Business Services sector's loss of 0.48% and the S&P 500's gain of 5.22%.
Investors will be eagerly watching for the performance of Cipher Mining Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.12, marking a 140% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $48.37 million, indicating a 31.4% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.35 per share and a revenue of $260.21 million, signifying shifts of -150% and +72.01%, respectively, from the last year.
Any recent changes to analyst estimates for Cipher Mining Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. The Zacks Consensus EPS estimate has moved 18.82% higher within the past month. Right now, Cipher Mining Inc. possesses a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 44, this industry ranks in the top 18% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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