Cipher Mining Inc. (CIFR) shares soared 15.9% in the last trading session to close at $5.68. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 42.7% gain over the past four weeks.
The stock recorded this price hike in response to the increase in the price of Bitcoin, the world’s largest cryptocurrency, over the past few days.
Invest in Gold
Thor Metals Group: Best Overall Gold IRA
Learn More ### Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase
Learn More ### American Hartford Gold: #1 Precious Metals Dealer in the Nation
Learn More Powered by Money.com - Yahoo may earn commission from the links above. This company is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents a year-over-year change of -140%. Revenues are expected to be $48.37 million, up 31.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Cipher Mining, the consensus EPS estimate for the quarter has been revised 17.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CIFR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
Cipher Mining is a member of the Zacks Technology Services industry. One other stock in the same industry, Crane NXT (CXT), finished the last trading session 2.4% higher at $56.68. CXT has returned 2.5% over the past month.
Crane NXT’s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.96. Compared to the company’s year-ago EPS, this represents a change of -9.4%. Crane NXT currently boasts a Zacks Rank of #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cipher Mining Inc. (CIFR) : Free Stock Analysis Report
Crane NXT, Co. (CXT) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
View Comments
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
