Cipher Mining Inc. (NASDAQ:CIFR) Receives Consensus Rating of “Moderate Buy” from Analysts

Cipher Mining Inc. (NASDAQ:CIFR) has earned an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $18.6818.

A number of analysts have commented on the stock. Canaccord Genuity Group upped their price target on shares of Cipher Mining from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Cipher Mining in a research report on Tuesday, October 14th. 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 report on Tuesday, October 14th. Northland Securities set a $14.50 price target on shares of Cipher Mining in a research report on Monday, September 29th. Finally, 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 report on Friday, September 26th.

Cipher Mining Stock Performance

NASDAQ CIFR opened at $19.96 on Wednesday. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of -46.42 and a beta of 2.87. Cipher Mining has a twelve month low of $1.86 and a twelve month high of $22.00. The stock has a fifty day simple moving average of $12.94 and a 200 day simple moving average of $7.31. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.23.

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

Insider Activity

In other news, major shareholder Holding Ltd V3 sold 3,504,540 shares of the stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $12.36, for a total transaction of $43,316,114.40. Following the transaction, the insider owned 71,437,719 shares of the company’s stock, valued at $882,970,206.84. This represents a 4.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 20,649,355 shares of company stock worth $276,031,364. 2.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cipher Mining

Institutional investors and hedge funds have recently made changes to their positions in the stock. Stoneridge Investment Partners LLC bought a new position in shares of Cipher Mining during the 1st quarter worth about $29,000. Valeo Financial Advisors LLC bought a new position in shares of Cipher Mining during the 1st quarter worth about $37,000. Steward Partners Investment Advisory LLC boosted its position in shares of Cipher Mining by 258.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock worth $43,000 after purchasing an additional 6,516 shares in the last quarter. Signal Advisors Wealth LLC bought a new position in shares of Cipher Mining during the 2nd quarter worth about $48,000. Finally, Custos Family Office LLC bought a new position in shares of Cipher Mining during the 2nd quarter worth about $48,000. 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.