Cipher Mining (NASDAQ:CIFR) Upgraded by Wall Street Zen to “Hold” Rating

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

Other analysts also recently issued research reports about the company. Northland Securities set a $27.50 target price on Cipher Mining in a research report on Tuesday, November 4th. Citigroup assumed coverage on shares of Cipher Mining in a report on Wednesday, November 19th. They issued an “outperform” rating for the company. Keefe, Bruyette & Woods lifted their target price on shares of Cipher Mining from $13.00 to $22.00 and gave the stock a “moderate buy” rating in a research report on Tuesday, January 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Cipher Mining in a research report on Monday, December 29th. Finally, Wells Fargo & Company set a $18.00 price objective on Cipher Mining in a report on Monday, November 24th. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.11.

Cipher Mining Trading Down 7.3%

Shares of CIFR stock opened at $14.65 on Friday. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.31. The business has a 50-day moving average price of $16.35 and a two-hundred day moving average price of $14.79. Cipher Mining has a 12-month low of $1.86 and a 12-month high of $25.52. The firm has a market cap of $5.79 billion, a P/E ratio of -81.39 and a beta of 2.95.

Insider Activity at Cipher Mining

In other Cipher Mining news, Director Holly Morrow Evans sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $18.74, for a total value of $281,100.00. Following the completion of the sale, the director directly owned 195,512 shares in the company, valued at $3,663,894.88. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James E. Newsome sold 21,821 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were 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 of the company’s stock, valued at approximately $2,765,046.76. The trade was a 11.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 182,825 shares of company stock valued at $3,075,820 over the last 90 days. Company insiders own 2.63% of the company’s stock.

Institutional Investors Weigh In On Cipher Mining

Hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC bought a new stake in shares of Cipher Mining in the 4th quarter worth approximately $25,000. Arax Advisory Partners grew its position in Cipher Mining by 274.2% during the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock valued at $27,000 after purchasing an additional 1,338 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 buying an additional 1,286 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Cipher Mining during the fourth quarter valued at approximately $28,000. Finally, Sherman Asset Management Inc. purchased a new position in Cipher Mining in the 3rd quarter worth approximately $25,000. 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.