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

Cipher Mining Inc. (NASDAQ:CIFRGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $6.25.

CIFR has been the subject of several recent research reports. HC Wainwright boosted their price target on Cipher Mining from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Needham & Company LLC restated a “buy” rating and issued a $5.00 price target on shares of Cipher Mining in a research note on Friday, June 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $6.00 price objective (up previously from $5.50) on shares of Cipher Mining in a research note on Wednesday, May 8th. Finally, Cantor Fitzgerald initiated coverage on shares of Cipher Mining in a research report on Tuesday, June 11th. They set an “overweight” rating and a $9.00 target price on the stock.

Check Out Our Latest Research Report on CIFR

Insider Transactions at Cipher Mining

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 296,357 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $3.99, for a total transaction of $1,182,464.43. Following the completion of the transaction, the insider now directly owns 118,223,411 shares in the company, valued at $471,711,409.89. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 4,692,735 shares of company stock valued at $20,486,934. Company insiders own 2.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sloy Dahl & Holst LLC bought a new position in shares of Cipher Mining in the fourth quarter worth about $44,000. Wolverine Asset Management LLC acquired a new position in shares of Cipher Mining during the fourth quarter worth $49,000. Bellecapital International Ltd. bought a new position in shares of Cipher Mining in the 4th quarter valued at $51,000. Calamos Advisors LLC acquired a new stake in shares of Cipher Mining during the 4th quarter valued at $52,000. Finally, Janney Montgomery Scott LLC bought a new stake in Cipher Mining during the 1st quarter worth $52,000. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Trading Up 1.4 %

Shares of Cipher Mining stock opened at $4.43 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 business has a fifty day simple moving average of $4.24 and a two-hundred day simple moving average of $3.90. Cipher Mining has a 1 year low of $2.15 and a 1 year high of $5.89. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 73.85 and a beta of 2.29.

Cipher Mining (NASDAQ:CIFRGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter. Cipher Mining had a net margin of 13.54% and a return on equity of 4.66%. The company had revenue of $48.14 million during the quarter, compared to analysts’ expectations of $50.05 million.

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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Analyst Recommendations for Cipher Mining (NASDAQ:CIFR)

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