Cipher Mining (NASDAQ:CIFR) Rating Lowered to “Sell” at Wall Street Zen

Cipher Mining (NASDAQ:CIFR) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other equities analysts have also recently weighed in on the stock. Northland Securities set a $27.50 price target on shares of Cipher Mining in a research report on Tuesday, November 4th. Citizens Jmp assumed coverage on Cipher Mining in a report on Wednesday, November 19th. They set an “outperform” rating and a $30.00 target price on the stock. Rosenblatt Securities increased their price target on Cipher Mining to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $12.00 to $18.00 in a research report on Monday, November 24th. Finally, Macquarie boosted their price objective on Cipher Mining from $16.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Thirteen investment 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’s stock. According to MarketBeat, Cipher Mining currently has a consensus rating of “Moderate Buy” and an average price target of $24.54.

Cipher Mining Price Performance

Shares of CIFR opened at $15.96 on Friday. The stock has a market cap of $6.31 billion, a P/E ratio of -88.67 and a beta of 2.94. Cipher Mining has a 1 year low of $1.86 and a 1 year high of $25.52. The stock’s 50-day moving average price is $17.29 and its two-hundred day moving average price is $13.79. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.31.

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 analysts’ consensus estimates of ($0.08) by $0.07. The business had revenue of $106.69 million for the quarter, compared to the consensus estimate 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, equities analysts predict that Cipher Mining will post -0.31 earnings per share for the current year.

Insider Activity at Cipher Mining

In other Cipher Mining news, Director James E. Newsome sold 21,821 shares of the business’s stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which is accessible through this link. Also, Director Wesley Hastie Williams sold 49,867 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $16.08, for a total transaction 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 represents a 23.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 444,117 shares of company stock valued at $8,340,332 over the last ninety days. Company insiders own 2.63% of the company’s stock.

Institutional Trading of Cipher Mining

Institutional investors have recently made changes to their positions in the business. Millennium Management LLC bought a new position in Cipher Mining in the first quarter valued at $9,316,000. Goldman Sachs Group Inc. boosted its stake in shares of Cipher Mining by 52.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock worth $10,765,000 after buying an additional 1,610,073 shares during the last quarter. Greenleaf Trust bought a new position in shares of Cipher Mining in the 2nd quarter valued at about $108,000. 111 Capital acquired a new stake in shares of Cipher Mining in the second quarter valued at about $114,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Cipher Mining during the second quarter worth about $127,000. 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.