Cipher Mining Inc. (CIFR) ended the recent trading session at $5.20, demonstrating a -0.76% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.21%. Meanwhile, the Dow experienced a drop of 0.16%, and the technology-dominated Nasdaq saw a decrease of 0.89%.
Shares of the company have depreciated by 16.69% over the course of the past month, underperforming the Business Services sector's loss of 2.5% and the S&P 500's loss of 1.56%.
The investment community will be paying close attention to the earnings performance of Cipher Mining Inc. in its upcoming release. In that report, analysts expect Cipher Mining Inc. to post earnings of -$0.10 per share. This would mark a year-over-year decline of 300%. At the same time, our most recent consensus estimate is projecting a revenue of $37.52 million, reflecting a 13.6% fall from the equivalent quarter 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 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Cipher Mining Inc. is currently sporting a Zacks Rank of #5 (Strong Sell).
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 84, placing it within the top 34% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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