Cipher Mining (NASDAQ:CIFR) Announces Earnings Results

Cipher Mining (NASDAQ:CIFR) released its earnings results on Tuesday. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.16, Zacks reports. Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%.

Cipher Mining Price Performance

CIFR stock opened at $4.97 on Tuesday. Cipher Mining has a 1 year low of $2.65 and a 1 year high of $7.99. The company has a market cap of $1.73 billion, a P/E ratio of -38.23 and a beta of 2.41. The firm has a 50-day moving average of $5.50 and a 200 day moving average of $5.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CIFR. Needham & Company LLC reissued a “buy” rating and set a $7.50 price objective on shares of Cipher Mining in a research report on Friday, January 31st. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Cipher Mining in a research note on Friday, November 1st. Keefe, Bruyette & Woods initiated coverage on Cipher Mining in a report on Wednesday, January 8th. They set an “outperform” rating for the company. BTIG Research boosted their price objective on shares of Cipher Mining from $6.00 to $9.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Cantor Fitzgerald cut their price objective on shares of Cipher Mining from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Ten investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $8.14.

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.