Cipher Mining Inc. (NASDAQ:CIFR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Cipher Mining Inc. (NASDAQ:CIFR) has received an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $24.7308.

CIFR has been the topic of a number of recent analyst reports. HC Wainwright upped their price target on shares of Cipher Mining to $30.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. JMP Securities set a $30.00 target price on shares of Cipher Mining in a report on Wednesday, November 19th. Citizens Jmp began coverage on shares of Cipher Mining in a research report on Wednesday, November 19th. They set an “outperform” rating and a $30.00 price target for the company. Arete Research started coverage on Cipher Mining in a report on Wednesday, September 24th. They issued a “buy” rating and a $24.00 price target on the stock. Finally, Northland Securities set a $27.50 price objective on Cipher Mining in a research note on Tuesday, November 4th.

Cipher Mining Stock Up 0.5%

CIFR opened at $16.63 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.49 and a quick ratio of 2.49. Cipher Mining has a 12 month low of $1.86 and a 12 month high of $25.52. The stock has a market capitalization of $6.57 billion, a P/E ratio of -92.39 and a beta of 2.94. The business has a 50 day simple moving average of $17.33 and a 200-day simple moving average of $12.61.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.07. Cipher Mining had a negative return on equity of 9.57% and a negative net margin of 34.16%.The firm had revenue of $106.69 million during the quarter, compared to analysts’ expectations of $79.13 million. On average, equities analysts anticipate that Cipher Mining will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director James E. Newsome sold 21,821 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $16.03, for a total value of $349,790.63. Following the completion of the transaction, the director owned 172,492 shares in the company, valued at $2,765,046.76. This trade represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Wesley Hastie Williams sold 49,867 shares of Cipher Mining stock in a transaction on Friday, December 19th. The stock was sold at an average price of $16.08, for a total value of $801,861.36. Following the transaction, the director directly owned 158,145 shares of the company’s stock, valued at $2,542,971.60. This trade represents a 23.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,970,973 shares of company stock valued at $102,884,253 in the last three months. 2.63% of the stock is owned by insiders.

Institutional Trading of Cipher Mining

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Cipher Mining by 13.4% during the 3rd quarter. Vanguard Group Inc. now owns 22,814,653 shares of the company’s stock worth $287,236,000 after purchasing an additional 2,699,717 shares in the last quarter. Geode Capital Management LLC grew its holdings in Cipher Mining by 18.1% during the 2nd quarter. Geode Capital Management LLC now owns 7,242,210 shares of the company’s stock valued at $34,621,000 after buying an additional 1,108,850 shares during the last quarter. Tidal Investments LLC increased its position in Cipher Mining by 28.3% during the second quarter. Tidal Investments LLC now owns 6,984,438 shares of the company’s stock worth $33,386,000 after buying an additional 1,541,138 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Cipher Mining by 40.0% in the third quarter. Invesco Ltd. now owns 6,852,074 shares of the company’s stock worth $86,268,000 after acquiring an additional 1,958,385 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Cipher Mining by 64.9% in the third quarter. Two Sigma Investments LP now owns 6,746,401 shares of the company’s stock worth $84,937,000 after acquiring an additional 2,655,015 shares during the last quarter. Hedge funds and other institutional investors 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.