Cipher Mining (NASDAQ:CIFR) Given New $6.00 Price Target at HC Wainwright

Cipher Mining (NASDAQ:CIFRFree Report) had its price target increased by HC Wainwright from $5.50 to $6.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also commented on CIFR. Needham & Company LLC reiterated a buy rating and issued a $5.00 price objective on shares of Cipher Mining in a research report on Friday, May 17th. Canaccord Genuity Group reissued a buy rating and set a $6.00 price target (up from $5.50) on shares of Cipher Mining in a research report on Wednesday, May 8th. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $5.00 price objective on shares of Cipher Mining in a research report on Thursday, March 28th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Cipher Mining presently has an average rating of Moderate Buy and a consensus target price of $5.58.

Check Out Our Latest Analysis on Cipher Mining

Cipher Mining Price Performance

CIFR opened at $4.11 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.08 and a quick ratio of 8.08. The company’s 50 day simple moving average is $4.05 and its 200-day simple moving average is $3.61. Cipher Mining has a one year low of $2.15 and a one year high of $5.75. The stock has a market capitalization of $1.27 billion, a P/E ratio of 68.51 and a beta of 2.28.

Cipher Mining (NASDAQ:CIFRGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.13 EPS for the quarter. The firm had revenue of $48.14 million for the quarter, compared to analyst estimates of $50.05 million. Cipher Mining had a return on equity of 4.66% and a net margin of 13.54%. Sell-side analysts anticipate that Cipher Mining will post -0.01 earnings per share for the current fiscal year.

Insider Transactions at Cipher Mining

In related news, major shareholder Top Holdco B.V. Bitfury sold 294,811 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $4.08, for a total transaction of $1,202,828.88. Following the sale, the insider now owns 118,519,768 shares in the company, valued at $483,560,653.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,498,872 shares of company stock valued at $5,821,931 in the last ninety days. 2.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Cipher Mining

Hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC acquired a new position in shares of Cipher Mining during the 1st quarter worth approximately $52,000. Sloy Dahl & Holst LLC bought a new stake in shares of Cipher Mining during the 4th quarter worth about $44,000. New York State Common Retirement Fund raised its holdings in Cipher Mining by 104.9% in the 3rd quarter. New York State Common Retirement Fund now owns 10,921 shares of the company’s stock valued at $25,000 after acquiring an additional 5,592 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in Cipher Mining during the first quarter worth approximately $59,000. Finally, Wolverine Asset Management LLC bought a new position in shares of Cipher Mining during the fourth quarter worth approximately $49,000. 12.26% of the stock is owned by institutional investors and hedge funds.

Cipher Mining Company Profile

(Get Free Report)

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.

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