Cipher Mining’s (CIFR) Sell (D+) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their sell (d+) rating on shares of Cipher Mining (NASDAQ:CIFR) in a research note published on Tuesday morning,Weiss Ratings reports.

CIFR has been the topic of several other reports. BTIG Research upped their price target on shares of Cipher Mining from $9.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Cipher Mining from $6.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, September 26th. HC Wainwright upped their price target on shares of Cipher Mining from $7.50 to $17.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Northland Securities set a $14.50 price target on shares of Cipher Mining in a research note on Monday, September 29th. Finally, Macquarie increased their price objective on shares of Cipher Mining from $8.00 to $16.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cipher Mining currently has an average rating of “Moderate Buy” and a consensus target price of $17.68.

Cipher Mining Trading Down 11.0%

CIFR stock opened at $18.72 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.18 and a current ratio of 4.18. The company’s 50-day simple moving average is $10.75 and its 200 day simple moving average is $6.32. Cipher Mining has a 52 week low of $1.86 and a 52 week high of $22.00. The company has a market capitalization of $7.36 billion, a PE ratio of -43.53 and a beta of 2.87.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). Cipher Mining had a negative net margin of 96.95% and a negative return on equity of 21.71%. The business had revenue of $43.57 million for the quarter, compared to the consensus estimate of $51.89 million. As a group, sell-side analysts anticipate that Cipher Mining will post -0.31 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Patrick Arthur Kelly sold 26,581 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $21.08, for a total value of $560,327.48. Following the sale, the chief operating officer directly owned 1,213,919 shares in the company, valued at approximately $25,589,412.52. This trade represents a 2.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Holding Ltd V3 sold 535,843 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $20.32, for a total transaction of $10,888,329.76. Following the completion of the sale, the insider owned 61,316,694 shares in the company, valued at approximately $1,245,955,222.08. The trade was a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,585,388 shares of company stock worth $288,102,231. 2.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC raised its holdings in Cipher Mining by 258.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock valued at $43,000 after buying an additional 6,516 shares during the last quarter. Signal Advisors Wealth LLC bought a new position in Cipher Mining in the 2nd quarter valued at approximately $48,000. Custos Family Office LLC bought a new position in Cipher Mining in the 2nd quarter valued at approximately $48,000. Maripau Wealth Management LLC bought a new position in Cipher Mining in the 2nd quarter valued at approximately $48,000. Finally, Scott Capital Advisors LLC bought a new position in Cipher Mining in the 3rd quarter valued at approximately $126,000. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Company Profile

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.