Cipher Mining (NASDAQ:CIFR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cipher Mining (NASDAQ:CIFR) from a sell rating to a hold rating in a research report released on Saturday.

Other analysts also recently issued research reports about the stock. Citigroup started coverage on shares of Cipher Mining in a report on Wednesday, November 19th. They issued an “outperform” rating for the company. BTIG Research restated a “buy” rating and set a $25.00 price target on shares of Cipher Mining in a research report on Wednesday, November 5th. Keefe, Bruyette & Woods lifted their price objective on Cipher Mining from $13.00 to $22.00 and gave the company a “moderate buy” rating in a research note on Tuesday, January 27th. Citizens Jmp set a $30.00 price objective on Cipher Mining in a report on Wednesday, November 19th. Finally, Wells Fargo & Company set a $18.00 target price on Cipher Mining in a report on Monday, November 24th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.11.

Cipher Mining Trading Up 3.9%

Shares of CIFR stock opened at $15.22 on Friday. Cipher Mining has a 1-year low of $1.86 and a 1-year high of $25.52. The firm has a market cap of $6.01 billion, a PE ratio of -84.56 and a beta of 2.95. The company has a 50-day moving average of $16.36 and a two-hundred day moving average of $15.00. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.49 and a quick ratio of 2.49.

Insider Activity

In related news, Director Wesley Hastie Williams sold 49,867 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $16.08, for a total transaction of $801,861.36. Following the completion of the transaction, the director directly owned 158,145 shares of the company’s stock, valued at $2,542,971.60. The trade was a 23.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Holly Morrow Evans sold 15,000 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $18.74, for a total value of $281,100.00. Following the completion of the sale, the director directly owned 195,512 shares in the company, valued at $3,663,894.88. This represents a 7.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 182,825 shares of company stock worth $3,075,820 over the last three months. Company insiders own 2.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CIFR. Sherman Asset Management Inc. acquired a new stake in shares of Cipher Mining in the 3rd quarter valued at $25,000. Los Angeles Capital Management LLC purchased a new position in Cipher Mining in the fourth quarter valued at $25,000. Arax Advisory Partners raised its stake in Cipher Mining by 274.2% in the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock valued at $27,000 after buying an additional 1,338 shares in the last quarter. GAMMA Investing LLC raised its stake in Cipher Mining by 218.3% in the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock valued at $28,000 after buying an additional 1,286 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Cipher Mining during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

About Cipher Mining

Cipher Mining Inc is a Nasdaq-listed bitcoin mining company that develops, owns and operates large-scale mining facilities across the United States. The company focuses on deploying advanced ASIC hardware and securing long-term low-cost power contracts to optimize bitcoin production. By strategically locating its sites in regions with abundant energy supply, Cipher Mining seeks to maintain a competitive cost structure and deliver efficient hashrate capacity growth.

Founded in 2021 and headquartered in Austin, Texas, Cipher Mining has pursued an integrated approach encompassing site development, equipment procurement and operations management.