Cipher Mining’s (CIFR) “Buy” Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of Cipher Mining (NASDAQ:CIFR) in a report issued on Wednesday morning,Benzinga reports. BTIG Research currently has a $25.00 target price on the stock.

Other research analysts also recently issued research reports about the company. Rosenblatt Securities reiterated a “buy” rating and issued a $24.00 price objective on shares of Cipher Mining in a report on Thursday, March 26th. Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of Cipher Mining in a research report on Wednesday, March 25th. Cantor Fitzgerald decreased their price target on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Morgan Stanley reiterated an “overweight” rating and issued a $40.50 price objective on shares of Cipher Mining in a research report on Monday, April 27th. Finally, Zacks Research raised Cipher Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 25th. Fourteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cipher Mining currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.29.

Cipher Mining Price Performance

Shares of Cipher Mining stock opened at $20.55 on Wednesday. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.79 and a current ratio of 3.13. Cipher Mining has a 52-week low of $2.95 and a 52-week high of $25.52. The company has a fifty day moving average of $15.99 and a 200-day moving average of $16.83. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of -8.82 and a beta of 3.13.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The business had revenue of $34.84 million during the quarter, compared to the consensus estimate of $36.12 million. Cipher Mining’s revenue was down 28.8% compared to the same quarter last year. Equities research analysts expect that Cipher Mining will post -0.9 EPS for the current year.

Insider Buying and Selling

In other Cipher Mining news, Director Cary M. Grossman sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $21.82, for a total transaction of $436,400.00. Following the completion of the transaction, the director owned 150,530 shares of the company’s stock, valued at $3,284,564.60. This represents a 11.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Wesley Hastie Williams sold 28,169 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $22.26, for a total value of $627,041.94. Following the completion of the sale, the director owned 129,976 shares of the company’s stock, valued at approximately $2,893,265.76. This trade represents a 17.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 196,398 shares of company stock valued at $3,347,410 over the last ninety days. Corporate insiders own 2.63% of the company’s stock.

Hedge Funds Weigh In On Cipher Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in CIFR. Vanguard Group Inc. boosted its holdings in Cipher Mining by 43.2% in the fourth quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock valued at $482,360,000 after acquiring an additional 9,865,533 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Cipher Mining in the 3rd quarter worth $70,524,000. Value Aligned Research Advisors LLC bought a new position in Cipher Mining in the 3rd quarter worth $64,266,000. Situational Awareness LP lifted its position in shares of Cipher Mining by 82.4% in the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock worth $154,524,000 after purchasing an additional 4,728,600 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Cipher Mining by 3,718.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,292,790 shares of the company’s stock worth $63,359,000 after purchasing an additional 4,180,362 shares during the period. Institutional investors own 12.26% of the company’s stock.

Cipher Mining News Roundup

Here are the key news stories impacting Cipher Mining this week:

• Positive Sentiment: Rosenblatt Securities raised its price target on Cipher Mining to $30 from $24 and reiterated a buy rating, signaling confidence in further upside. Rosenblatt Securities Raises Price Target on Cipher Mining
• Positive Sentiment: Keefe, Bruyette & Woods lifted its target to $27 from $23 and kept an outperform rating, which reinforced the bullish analyst trend. Cipher Mining Price Target Raised by Keefe, Bruyette & Woods
• Positive Sentiment: HC Wainwright also reportedly increased its price target to $30, adding another vote of confidence in Cipher Mining’s outlook. Cipher Mining Given New Price Target at HC Wainwright
• Positive Sentiment: News coverage highlighted Cipher Mining’s momentum tied to large AI campus leases and a $2.2 billion financing, which supports the company’s growth story and could attract momentum investors. Cipher Digital Is Up After Massive AI Campus Leases And Financing
• Neutral Sentiment: Cipher Mining said it will participate in several upcoming investor and industry conferences, which may help keep the company visible but does not change fundamentals by itself. Cipher Digital Announces Participation in Upcoming Investor and Industry Conferences
• Negative Sentiment: Director Cary M. Grossman sold 20,000 shares, trimming his stake by 11.73%, which can be viewed as a mild confidence signal against the stock. Cary M. Grossman Insider Sale SEC Filing
• Negative Sentiment: Director Wesley Hastie Williams sold 28,169 shares, reducing his position by 17.81%, adding a second insider-sale headline that may temper enthusiasm. Wesley Hastie Williams Insider Sale SEC Filing

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.