Cipher Mining Inc. (NASDAQ:CIFR) Receives $5.25 Average Target Price from Analysts

Cipher Mining Inc. (NASDAQ:CIFR) has earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $5.25.

A number of brokerages recently commented on CIFR. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of Cipher Mining in a report on Monday, April 22nd. HC Wainwright reaffirmed a “buy” rating and set a $4.50 target price on shares of Cipher Mining in a report on Tuesday, March 5th. Canaccord Genuity Group reiterated a “buy” rating and set a $5.50 price target on shares of Cipher Mining in a research report on Thursday, March 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price objective on shares of Cipher Mining in a research note on Thursday, March 28th.

Cipher Mining Trading Down 0.8 %

Cipher Mining stock opened at $3.69 on Friday. The business has a 50 day moving average price of $3.96 and a two-hundred day moving average price of $3.47. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -36.90 and a beta of 2.22. Cipher Mining has a 12 month low of $1.76 and a 12 month high of $5.75. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.02.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings data on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. The firm had revenue of $43.42 million during the quarter, compared to the consensus estimate of $35.73 million. Cipher Mining had a negative return on equity of 6.78% and a negative net margin of 20.32%. As a group, equities analysts forecast that Cipher Mining will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Cipher Mining

Institutional investors and hedge funds have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. lifted its stake in shares of Cipher Mining by 50.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock worth $62,000 after buying an additional 5,000 shares in the last quarter. New York State Common Retirement Fund increased its stake in Cipher Mining by 104.9% in the 3rd quarter. New York State Common Retirement Fund now owns 10,921 shares of the company’s stock worth $25,000 after buying an additional 5,592 shares in the last quarter. Barclays PLC raised its stake in Cipher Mining by 93.4% during the 3rd quarter. Barclays PLC now owns 15,982 shares of the company’s stock valued at $37,000 after purchasing an additional 7,720 shares during the period. Janney Montgomery Scott LLC bought a new stake in Cipher Mining in the 1st quarter valued at $52,000. Finally, Sloy Dahl & Holst LLC purchased a new stake in shares of Cipher Mining during the 4th quarter worth approximately $44,000. 12.26% of the stock is owned by hedge funds and other institutional investors.

About Cipher Mining

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.