Cipher Mining Inc. (CIFR) ended the recent trading session at $3.22, demonstrating a +1.1% swing from the preceding day's closing price. This change outpaced the S&P 500's 0.49% gain on the day. Meanwhile, the Dow experienced a drop of 0.2%, and the technology-dominated Nasdaq saw an increase of 1.22%.
Prior to today's trading, shares of the company had lost 44.21% over the past month. This has lagged the Business Services sector's loss of 10.16% and the S&P 500's loss of 8.15% in that time.
Investors will be eagerly watching for the performance of Cipher Mining Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.06, reflecting a 146.15% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $51.86 million, up 7.72% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$0.17 per share and a revenue of $291.33 million, demonstrating changes of -21.43% and +92.59%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Cipher Mining Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 15.39% upward. As of now, Cipher Mining Inc. holds a Zacks Rank of #1 (Strong Buy).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 73, finds itself in the top 30% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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Cipher Mining Inc. (CIFR) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
