Cipher Mining saw an improvement in its IBD SmartSelect Composite Rating Friday, from 94 to 96.
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The new score indicates the company is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.
Cipher Mining is now out of buy range after clearing the 5.75 entry in a consolidation.
One weak spot is the company's 38 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of A shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.
The company reported a 0% rise in earnings for Q2. Top line growth climbed 18%, up from 2% in the prior quarter. The company has now posted rising growth in each of the last three quarters.
Cipher Mining earns the No. 3 rank among its peers in the Financial Services-Specialty industry group. Figure Tech Solns is the top-ranked stock within the group.
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