Cipher Mining Inc. (CIFR) closed the most recent trading day at $4.49, moving -0.44% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.92%. Meanwhile, the Dow experienced a rise of 0.31%, and the technology-dominated Nasdaq saw an increase of 2.03%.
Shares of the company witnessed a loss of 3.22% over the previous month, trailing the performance of the Business Services sector with its gain of 2.44% and the S&P 500's gain of 0.81%.
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 -$0.10, reflecting a 300% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $37.52 million, down 13.6% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Cipher Mining Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Cipher Mining Inc. is holding a Zacks Rank of #5 (Strong Sell) right now.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 87, this industry ranks in the top 35% 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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