How to Buy Cipher Mining Stock
Cipher Mining Inc
Cipher Mining Inc. , a technology company, operates in the bitcoin mining ecosystem in the United States.
Cipher Mining stock last closed at $2.29, down 1.72% from the previous day, and has increased 19.9% in one year. It has overperformed other stocks in the Capital Markets industry by 0.2 percentage points. Cipher Mining stock is currently +499.48% from its 52-week low of $0.38, and -31.02% from its 52-week high of $3.32.
There are currently 248.94M CIFR shares outstanding. The market cap of CIFR is $570.07M. In the last 24 hours, 537,506 CIFR shares were traded.
How to Buy Cipher Mining Stock
Wondering how to invest in Cipher Mining stock? Here's how.
- Choose where to buy Cipher Mining stock: You need to decide on an online brokerage, but don't worry - we've tested dozens of stock brokerages and apps to help you choose where to buy Cipher Mining stock.
- Sign up for your brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've selected.
- Deposit money your brokerage account: Select your payment method and add your information.
- Research Cipher Mining stock: The Cipher Mining ticker symbol is CIFR. Is Cipher Mining stock a good investment? Should you buy shares of CIFR? How do CIFR's underlying business fundamentals look? Do top analysts think Cipher Mining is a good buy? Why has CIFR's stock price moved recently? (Hint: Our stock market research website can help you evaluate if CIFR is a good stock to buy).
- Place your CIFR purchase: Decide if you will purchase CIFR shares at the current market price or use a limit order to purchase CIFR stock at a particular price.
- Get updates on your CIFR investment: Create a watchlist to the latest updates on your position in Cipher Mining shares.
Step 1: Choose where to buy Cipher Mining stock
You will need an online brokerage account to access the NASDAQ market and buy CIFR shares.
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Open eToro AccountStep 2: Sign up for your brokerage account
Now that you've picked the right brokerage, you need to fill out some personal info so you can invest in CIFR stock today.
How to Open a New Account on eToro
- Click here to get started.
- Input your personal info to open your new trading account.
- Send your application by pressing the "Create Account" button.
Step 3: Deposit money your brokerage account
Now that you have opened your account on our top ranked stock trading app, you need to deposit funds:
Watch this video walkthrough to see the process of depositing funds into your new brokerage account.
Step 4: Research Cipher Mining stock
After you have chosen the best place to buy Cipher Mining stock, it's very important to research their stock before you invest, so you truly understand the risk as well as the opportunity.
Cipher Mining stock at a glance
CIFR Overview
WallStreetZen was created to help part-time investors do more accurate fundamental analysis in minutes instead of hours.
You can view all of the due diligence checks on CIFR's stock page.
Is CIFR stock undervalued?
Analysts use many financial metrics, analyses, models, and charts to gauge CIFR's fair value.
Using relative valuations measures:
- CIFR may be overvalued based on its P/B ratio of 1.65x, relative to Capital Markets industry P/B ratio of 1.54x
You can do additional valuation research on CIFR's stock here.
CIFR Financial Overview
Signs that CIFR is financially healthy:
- There are more short-term assets than long-term liabilities on the CIFR balance sheet.
- There are more short-term assets than short-term liabilities on the CIFR balance sheet.
- CIFR has a low debt to equity ratio of 0.2.
Signs that CIFR is not financially healthy:
- CIFR has $30.63M in cash and short term investments. This is not enough to cover its annual cash burn of $149.78M.
- CIFR has cash burn of 149776000. It does not have sufficient cash and short-term investments to cover this.
Is it a good time to buy Cipher Mining stock, according to Wall Street analysts?
Out of 5 Wall Street analysts who track CIFR, the consensus analyst rating on Cipher Mining is a Strong Buy
It's important to keep in mind that analyst forecasts are not recommendations, nor are they investment advice.
Latest CIFR Analyst Ratings
Chase White, a bottom 5% analyst from Compass Point initiates coverage on CIFR with a strong buy rating and announces their CIFR price target of $4.00, on Jun 6, 2023.
Joseph Vafi, a top 26% analyst from Canaccord Genuity reiterates CIFR with a strong buy rating and maintains their CIFR price target from $4.00 to $4.00, on May 10, 2023.
John Todaro, a top 12% analyst from Needham reiterates CIFR with a buy rating and raises their CIFR price target from $2.70 to $4.00, on Apr 12, 2023.
Mike Colonnese, a bottom 11% analyst from HC Wainwright & Co. reiterates CIFR with a buy rating and maintains their CIFR price target from $3.00 to $3.00, on Mar 16, 2023.
Josh Siegler, a bottom 2% analyst from Cantor Fitzgerald initiates coverage on CIFR with a strong buy rating and announces their CIFR price target of $3.00, on Mar 14, 2023.
You can dive deeper into what analysts are projecting on the Cipher Mining stock forecast page.
CIFR Technical Indicators
What are CIFR executives and large shareholders up to?
In the last year, insiders at CIFR have sold more shares than they have bought.
Edward J. Farrell, Chief Financial Officer of CIFR, was the latest CIFR insider to sell. They sold $55,377.92 worth of CIFR stock on Jan 1, 2023.
Get more info about who owns CIFR shares here.
Does CIFR provide a stable income stream?
No, Cipher Mining doesn't provide an income stream by paying out dividends.
What do other investors have to say about CIFR?
One of the reasons eToro is our favorite brokerage is because of its social trading community.
Click below to see what other traders have to say.
Step 5: Place your CIFR purchase
There are two main order types:
- Market order: A market order is an order to buy or sell a security at the best price on the market.
Market orders are mostly the best for newer investors. - Limit order: A limit order is an order to buy or sell a security at a specific price (or better).
If you want to ensure you're buying or selling at a particular dollar amount limit, place a limit order.
Press the Open button and your broker will execute your order.
If you want more info about buying stocks on eToro, click the how to video below:
Step 6: Get updates on your CIFR investment
Now that you own some CIFR stock, you'll want to keep up with your new investment.
Create a watchlist to see the latest developments about your CIFR stock.
CIFR Feed
How to Buy Stock in Cipher Mining
To reiterate, here are the 6 steps to buy stock in Cipher Mining:
- Choose where to buy Cipher Mining stock
- Sign up for your brokerage account
- Deposit money your brokerage account
- Research Cipher Mining stock
- Place your CIFR purchase
- Get updates on your CIFR investment
If you are looking for a brokerage account, eToro is our favorite venue.
Get Started with eToro TodayIf you would like to get the latest news on your new investment in Cipher Mining, get started below.
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