Cipher Mining Inc. (NASDAQ:CIFR) Receives Average Rating of “Moderate Buy” from Analysts

Cipher Mining Inc. (NASDAQ:CIFR) has received an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $24.5357.

Several analysts have recently commented on CIFR shares. Canaccord Genuity Group restated a “buy” rating and issued a $27.00 target price on shares of Cipher Mining in a research note on Monday, December 15th. BTIG Research restated a “buy” rating and issued a $25.00 price objective on shares of Cipher Mining in a research report on Wednesday, November 5th. HC Wainwright boosted their target price on Cipher Mining to $30.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Keefe, Bruyette & Woods increased their target price on Cipher Mining from $13.00 to $22.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, January 27th. Finally, Needham & Company LLC lifted their price target on Cipher Mining from $15.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th.

Cipher Mining Price Performance

Cipher Mining stock opened at $12.70 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.49 and a quick ratio of 2.49. The business has a 50 day simple moving average of $17.02 and a 200-day simple moving average of $14.03. 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 $5.02 billion, a PE ratio of -70.56 and a beta of 2.95.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data 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 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%. Equities analysts predict that Cipher Mining will post -0.31 earnings per share for the current year.

Insider Activity at Cipher Mining

In related news, Director Wesley Hastie Williams sold 49,867 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $16.08, for a total value of $801,861.36. Following the completion of the sale, the director owned 158,145 shares in the company, valued at $2,542,971.60. This trade represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Patrick Arthur Kelly sold 35,568 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $17.76, for a total transaction of $631,687.68. Following the transaction, the chief operating officer owned 1,512,644 shares in the company, valued at $26,864,557.44. The trade was a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 271,023 shares of company stock worth $4,442,255. 2.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cipher Mining

Several institutional investors have recently modified their holdings of CIFR. JPMorgan Chase & Co. raised its holdings in Cipher Mining by 996.9% during the second quarter. JPMorgan Chase & Co. now owns 2,227,021 shares of the company’s stock worth $10,645,000 after purchasing an additional 2,023,994 shares during the last quarter. Thames Capital Management LLC purchased a new position in shares of Cipher Mining in the third quarter valued at $19,070,000. Legal & General Group Plc raised its stake in shares of Cipher Mining by 33.4% during the 2nd quarter. Legal & General Group Plc now owns 298,446 shares of the company’s stock worth $1,427,000 after buying an additional 74,744 shares during the last quarter. Soros Fund Management LLC boosted its position in shares of Cipher Mining by 67.5% in the 2nd quarter. Soros Fund Management LLC now owns 1,300,000 shares of the company’s stock worth $6,214,000 after buying an additional 524,044 shares in the last quarter. Finally, Two Seas Capital LP acquired a new stake in Cipher Mining in the 2nd quarter valued at about $1,195,000. 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.