Cipher Mining Inc. (NASDAQ:CIFR – Get Rating)’s stock price traded up 5.1% during trading on Friday . The company traded as high as $2.16 and last traded at $2.06. 1,228,844 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 1,358,967 shares. The stock had previously closed at $1.96.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Cantor Fitzgerald assumed coverage on Cipher Mining in a research report on Monday, March 13th. They issued a “buy” rating and a $3.00 target price on the stock. Needham & Company LLC assumed coverage on Cipher Mining in a research report on Tuesday, February 21st. They issued a “buy” rating and a $2.70 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $3.00 target price on shares of Cipher Mining in a research report on Thursday.
Cipher Mining Stock Up 18.4 %
The company has a 50 day simple moving average of $1.48 and a two-hundred day simple moving average of $1.18. The company has a quick ratio of 3.56, a current ratio of 1.18 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $576.82 million, a P/E ratio of -14.50 and a beta of 2.09.
Institutional Investors Weigh In On Cipher Mining
Cipher Mining Company Profile
Cipher Mining Inc, a technology company, operates in the bitcoin mining ecosystem in the United States. It engages in developing and growing a cryptocurrency mining business that specializes in bitcoin. The company was incorporated in 2021 and is based in New York, New York.
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