Cipher Mining (NASDAQ:CIFR) Stock Rating Upgraded by Wall Street Zen

Cipher Mining (NASDAQ:CIFR) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Friday.

A number of other brokerages also recently issued reports on CIFR. Wells Fargo & Company set a $18.00 price target on Cipher Mining in a report on Monday, November 24th. Canaccord Genuity Group reissued a “buy” rating and issued a $27.00 target price on shares of Cipher Mining in a research report on Monday, December 15th. Citizens Jmp initiated coverage on shares of Cipher Mining in a report on Wednesday, November 19th. They set an “outperform” rating and a $30.00 price target on the stock. Needham & Company LLC lifted their price target on shares of Cipher Mining from $15.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, Northland Securities set a $27.50 price objective on shares of Cipher Mining in a report on Tuesday, November 4th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.73.

Cipher Mining Stock Performance

Shares of CIFR stock opened at $17.57 on Friday. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of -97.61 and a beta of 2.94. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.49 and a current ratio of 2.49. Cipher Mining has a one year low of $1.86 and a one year high of $25.52. The company’s 50-day moving average is $16.98 and its 200 day moving average is $13.39.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.07. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. The company had revenue of $106.69 million during the quarter, compared to the consensus estimate of $79.13 million. Sell-side analysts expect that Cipher Mining will post -0.31 EPS for the current fiscal year.

Insider Transactions at Cipher Mining

In other news, COO Patrick Arthur Kelly sold 35,569 shares of Cipher Mining stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $15.08, for a total value of $536,380.52. Following the sale, the chief operating officer directly owned 1,151,770 shares of the company’s stock, valued at approximately $17,368,691.60. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William Iwaschuk sold 173,094 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $22.52, for a total value of $3,898,076.88. Following the transaction, the insider owned 1,054,488 shares of the company’s stock, valued at $23,747,069.76. This represents a 14.10% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 444,117 shares of company stock valued at $8,340,332. 2.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cipher Mining

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC increased 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 worth $28,000 after purchasing an additional 1,286 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Cipher Mining by 26.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the company’s stock valued at $104,000 after purchasing an additional 1,468 shares during the period. DKM Wealth Management Inc. grew its holdings in shares of Cipher Mining by 15.1% in the fourth quarter. DKM Wealth Management Inc. now owns 14,361 shares of the company’s stock worth $212,000 after purchasing an additional 1,886 shares during the last quarter. Sherman Asset Management Inc. bought a new position in shares of Cipher Mining in the third quarter worth about $25,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Cipher Mining by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 63,138 shares of the company’s stock worth $795,000 after buying an additional 2,133 shares during the period. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Company Profile

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.