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 $5.24, up 5.86% from the previous day, and has increased 80.69% in one year. It has overperformed other stocks in the Capital Markets industry by 0.36 percentage points. Cipher Mining stock is currently +143.16% from its 52-week low of $2.16, and -34.42% from its 52-week high of $7.99.
There are currently 347.81M CIFR shares outstanding. The market cap of CIFR is $1.82B. In the last 24 hours, 6.3M 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.
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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:
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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 2.71x, relative to Capital Markets industry P/B ratio of 2.28x
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 0.15.
Signs that CIFR is not financially healthy:
- CIFR has $162.38M in cash and short term investments. This is not enough to cover its annual cash burn of $431.38M.
- CIFR has cash burn of 431380000. It does not have sufficient cash and short-term investments to cover this.
- CIFR profit margin has gone up by 0.68 percentage points in the past year, but the company is still unprofitable.
Is it a good time to buy CIFR stock, according to analysts?
Out of 9 Wall Street analysts who give ratings on CIFR, the consensus analyst rating on Cipher Mining is a Strong Buy
It's important to note that analyst ratings are not stock recommendations, nor are they investment advice.
Latest CIFR Analyst Upgrades/Downgrades
Joseph Vafi, a top 1% analyst from Canaccord Genuity maintains CIFR with a strong buy rating and maintains their CIFR price target from $7.00 to $7.00, on Nov 1, 2024.
John Todaro, a top 1% analyst from Needham reiterates CIFR with a buy rating and maintains their CIFR price target from $7.50 to $7.50, on Nov 1, 2024.
Mike Colonnese, a top 2% analyst from HC Wainwright & Co. reiterates CIFR with a buy rating and maintains their CIFR price target from $7.00 to $7.00, on Nov 1, 2024.
Chase White, a top 13% analyst from Compass Point maintains CIFR with a strong buy rating and raises their CIFR price target from $7.50 to $9.00, on Aug 15, 2024.
Compass Point's Chase White raised their price target on Cipher Mining (NASDAQ: CIFR) by 20% from $7.5 to $9 on 2024/08/15. The analyst maintained their Strong Buy rating on the stock.
White's price target hike followed an assessment of Cipher Mining's Q2 2024 earnings, reported on 2024/08/13.
The analyst said they raised their estimates and price target to account for the company's hash rate expansion.
During the earnings call, management unveiled its high-performance computing plans, the analyst told investors.
Looking ahead, White said the plans were an encouraging sign because they focus on diversifying Cipher Mining's revenue streams, making it less dependent on hash.
Earnings Report
For Q2 2024, Cipher Mining reported:
- Loss per share of $0.01, which beat the consensus estimate of $(0.03) but missed, by 133.3%, Q2 2023’s $0.03.
- Revenue of $36.81M, which missed the consensus estimate of $37.96M, but beat, by 17.9%, Q2 2023’s $31.22M.
Management did not provide financial guidance in its press release or earnings call.
CEO Tyler Page commented: “We currently operate ~8.7 EH/s of self-mining hash rate and are on track to hit ~13.5 EH/s by year-end 2024 and ~35.0 EH/s by year-end 2025.
“In addition to constructing the 300 MW facility at Black Pearl, we are on track to close the acquisition of our new Reveille data center site with up to 200 MW of capacity and are pleased to announce we have executed a term sheet for an option to acquire three new sites with a cumulative power capacity of 1.5 GW.
“These sites are well-suited for both bitcoin mining and HPC data centers.
“With our operations and construction teams, which are led by seasoned experts who have built and run HPC data centers for some of the top hyperscalers in the world, we are uniquely positioned to maximize opportunities in both bitcoin mining and HPC infrastructure.
“We expect developing HPC infrastructure will be complementary to our bitcoin mining business and that we can strike the right balance between the two business lines to drive significant shareholder value for many years.”
You can dig deeper into what analysts are projecting on the Cipher Mining stock forecast page.
Metrics for Advanced CIFR Traders
CIFR Growth Numbers
Last year, CIFR revenue was $152.47M. In the past one years, CIFR's revenue has increased by 76.34% per year. This was faster than the Capital Markets industry average of 18.31%.
Learn more about CIFR's earnings and revenue performance here.
Are CIFR insiders buying or selling the stock?
Over the past 12 months, executives and large shareholders 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 $751,944.34 worth of CIFR stock on Dec 18, 2024.
Get more info about who owns CIFR stock here.
Can I rely on CIFR as an income stream?
No, Cipher Mining doesn't provide an income stream by paying out dividends.
CIFR Social Trading Data
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Step 5: Place your CIFR purchase
You have two primary options:
- Market order: A market order is an order to buy or sell a security at the best possible price.
Market orders are generally the best for newer investors. - Limit order: A limit order allows you to buy or sell a stock at a specific price (or better).
If you want to ensure you're buying or selling at a specific dollar amount limit, use a limit order.
Hit the Open Trade button and your broker will execute the order.
If you require more assistance 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.
Start a watchlist to get notified of the latest news about your CIFR stock.
CIFR Feed
How to Buy Stock in Cipher Mining
To summarize, here are the 6 steps for buying Cipher Mining stock:
- 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 recommended venue.
Get Started with eToro TodayIf you want to track your new investment in Cipher Mining, create a watchlist on WallStreetZen today.
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