Cipher Mining Inc. (CIFR) Stock Sinks As Market Gains: What You Should Know

Cipher Mining Inc. (CIFR) closed the latest trading day at $2.30, indicating a -0.86% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.55%. Elsewhere, the Dow gained 1.01%, while the tech-heavy Nasdaq lost 0.14%.The company's stock has dropped by 43.14% in the past month, falling short of the Business Services sector's loss of 5.96% and the S&P 500's loss of 6.22%.The investment community will be paying close attention to the earnings performance of Cipher Mining Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.11, showcasing a 184.62% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $49.65 million, up 3.13% from the year-ago period.For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.38 per share and revenue of $276.02 million, which would represent changes of -171.43% and +82.47%, respectively, from the prior year.Investors should also take note of any recent adjustments to analyst estimates for Cipher Mining Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 127.27% lower. Cipher Mining Inc. is currently sporting a Zacks Rank of #3 (Hold).The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 52, finds itself in the top 21% 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks