Cipher Mining (NASDAQ:CIFR) Stock Price Up 8.6% – Still a Buy?

Cipher Mining Inc. (NASDAQ:CIFR) shares were up 8.6% on Friday . The stock traded as high as $16.15 and last traded at $16.0230. Approximately 7,362,784 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 26,987,300 shares. The stock had previously closed at $14.76.

Analyst Ratings Changes

A number of analysts have recently weighed in on CIFR shares. JPMorgan Chase & Co. upgraded shares of Cipher Mining from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $12.00 to $18.00 in a research note on Monday, November 24th. Macquarie lifted their target price on shares of Cipher Mining from $16.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Rosenblatt Securities boosted their target price on shares of Cipher Mining to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Wall Street Zen downgraded Cipher Mining from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Finally, JMP Securities set a $30.00 price objective on Cipher Mining in a research note on Wednesday, November 19th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.73.

Cipher Mining Stock Up 9.8%

The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.49 and a current ratio of 2.49. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of -90.00 and a beta of 2.94. The firm’s 50-day simple moving average is $17.59 and its 200-day simple moving average is $12.09.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. The business had revenue of $106.69 million during the quarter, compared to analyst estimates of $79.13 million. Sell-side analysts forecast that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Insider Activity at Cipher Mining

In other Cipher Mining news, Director Holly Morrow Evans sold 15,000 shares of Cipher Mining stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $18.74, for a total transaction of $281,100.00. Following the sale, the director owned 195,512 shares in the company, valued at $3,663,894.88. The trade was a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wesley Hastie Williams sold 49,867 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $16.08, for a total transaction of $801,861.36. Following the completion of the sale, the director directly owned 158,145 shares in the company, valued at $2,542,971.60. This trade represents a 23.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,970,973 shares of company stock worth $102,884,253 in the last three months. Company insiders own 2.63% of the company’s stock.

Institutional Trading of Cipher Mining

Several institutional investors have recently made changes to their positions in the business. Sherman Asset Management Inc. acquired a new position in Cipher Mining in the third quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Cipher Mining by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 63,138 shares of the company’s stock valued at $795,000 after purchasing an additional 2,133 shares during the period. Hollencrest Capital Management acquired a new position in shares of Cipher Mining in the 3rd quarter worth approximately $31,000. Vanguard Personalized Indexing Management LLC lifted its position in shares of Cipher Mining by 10.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 29,247 shares of the company’s stock worth $368,000 after buying an additional 2,659 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in Cipher Mining by 7.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 38,281 shares of the company’s stock valued at $183,000 after buying an additional 2,812 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Company Profile

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.