Cipher Mining Inc. (NASDAQ:CIFR) Receives $24.73 Consensus PT from Analysts

Shares of Cipher Mining Inc. (NASDAQ:CIFR) have earned an average rating of “Moderate Buy” from the seventeen research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given 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 $24.6786.

Several analysts recently commented on CIFR shares. Citizens Jmp assumed coverage on shares of Cipher Mining in a research note on Wednesday, November 19th. They set an “outperform” rating and a $30.00 target price for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cipher Mining in a report on Monday. Wall Street Zen upgraded Cipher Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Macquarie lifted their target price on Cipher Mining from $16.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Finally, Arete started coverage on Cipher Mining in a research report on Wednesday, September 24th. They set a “buy” rating and a $24.00 target price on the stock.

Cipher Mining Price Performance

NASDAQ:CIFR opened at $17.52 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’s 50-day moving average price is $16.91 and its 200 day moving average price is $9.49. Cipher Mining has a 52-week low of $1.86 and a 52-week high of $25.52. The firm has a market cap of $6.92 billion, a P/E ratio of -97.33 and a beta of 2.91.

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 the consensus estimate of ($0.08) by $0.07. The company had revenue of $106.69 million during 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%. As a group, sell-side analysts predict that Cipher Mining will post -0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cipher Mining news, major shareholder Holding Ltd V3 sold 3,504,540 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $12.36, for a total transaction of $43,316,114.40. Following the sale, the insider owned 71,437,719 shares in the company, valued at approximately $882,970,206.84. The trade was a 4.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 20,758,308 shares of company stock valued at $280,420,794. Company insiders own 2.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Sherman Asset Management Inc. purchased a new stake in shares of Cipher Mining in the 3rd quarter valued at approximately $25,000. Stoneridge Investment Partners LLC purchased a new stake in shares of Cipher Mining in the first quarter valued at $29,000. Hollencrest Capital Management acquired a new stake in shares of Cipher Mining in the third quarter worth $31,000. Peterson Wealth Services purchased a new position in shares of Cipher Mining during the third quarter valued at $41,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Cipher Mining by 258.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock valued at $43,000 after buying an additional 6,516 shares in the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

Cipher Mining Company Profile

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.