Cipher Mining ( (CIFR) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Cipher Mining’s stock is experiencing a downward trend despite analysts maintaining a Buy rating and raising price targets due to the increasing value of crypto mining power assets and optimism in an AI-driven market. The decline is largely attributed to negative insider sentiment, as a significant number of shares have been sold by insiders, coupled with the company’s negative P/E ratio, indicating caution among shareholders.
More about Cipher Mining
YTD Price Performance: 335.40%
Average Trading Volume: 40,572,240
Technical Sentiment Signal: Buy
Current Market Cap: $8.27B
For further insights into CIFR stock on TipRanks’ Stock Analysis page.
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