Cipher Mining (NASDAQ:CIFR) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Cipher Mining (NASDAQ:CIFR) had its price target upped by Keefe, Bruyette & Woods from $13.00 to $22.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 15.97% from the company’s previous close.

CIFR has been the subject of several other research reports. Citizens Jmp assumed coverage on shares of Cipher Mining in a research note on Wednesday, November 19th. They issued an “outperform” rating and a $30.00 price objective for the company. Rosenblatt Securities raised their target price on Cipher Mining to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. upgraded Cipher Mining from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $12.00 to $18.00 in a research note on Monday, November 24th. Northland Securities set a $27.50 target price on Cipher Mining in a report on Tuesday, November 4th. Finally, BTIG Research reaffirmed a “buy” rating and set a $25.00 target price on shares of Cipher Mining in a research report on Wednesday, November 5th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cipher Mining currently has an average rating of “Moderate Buy” and an average price target of $24.54.

Cipher Mining Trading Up 1.2%

Shares of NASDAQ CIFR opened at $18.97 on Tuesday. The business has a 50 day simple moving average of $17.20 and a 200 day simple moving average of $13.70. Cipher Mining has a 52 week low of $1.86 and a 52 week high of $25.52. The stock has a market cap of $7.49 billion, a price-to-earnings ratio of -105.39 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 (NASDAQ:CIFR) last issued its quarterly earnings data 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. The firm had revenue of $106.69 million for the quarter, compared to analyst estimates of $79.13 million. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. On average, research analysts predict that Cipher Mining will post -0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James E. Newsome sold 21,821 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $16.03, for a total transaction of $349,790.63. Following the transaction, the director owned 172,492 shares in the company, valued at approximately $2,765,046.76. The trade was a 11.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Wesley Hastie Williams sold 49,867 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $16.08, for a total transaction of $801,861.36. Following the completion of the sale, the director owned 158,145 shares of the company’s stock, valued at approximately $2,542,971.60. The trade was a 23.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 444,117 shares of company stock valued at $8,340,332 in the last 90 days. 2.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Cipher Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its stake in Cipher Mining by 14.6% during the fourth quarter. Arizona State Retirement System now owns 88,041 shares of the company’s stock worth $1,299,000 after purchasing an additional 11,200 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Cipher Mining in the 4th quarter worth approximately $4,162,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Cipher Mining by 22.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,013 shares of the company’s stock worth $960,000 after buying an additional 11,799 shares during the period. Bosman Wealth Management LLC bought a new position in shares of Cipher Mining during the 4th quarter worth approximately $1,045,000. Finally, CWM LLC boosted its stake in Cipher Mining by 43.3% in the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock valued at $39,000 after buying an additional 804 shares in the last quarter. 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.