Cipher Mining Inc. (NASDAQ:CIFR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Cipher Mining Inc. (NASDAQ:CIFR) has been assigned an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $24.7308.

CIFR has been the topic of a number of research reports. JMP Securities set a $30.00 price target on Cipher Mining in a research note on Wednesday, November 19th. Arete Research initiated coverage on Cipher Mining in a report on Wednesday, September 24th. They issued a “buy” rating and a $24.00 price objective for the company. Citizens Jmp started coverage on shares of Cipher Mining in a research report on Wednesday, November 19th. They set an “outperform” rating and a $30.00 target price on the stock. Macquarie lifted their target price on shares of Cipher Mining from $16.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, Wells Fargo & Company set a $18.00 price target on shares of Cipher Mining in a research note on Monday, November 24th.

Insider Buying and Selling at Cipher Mining

In other Cipher Mining news, Director Cary M. Grossman sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $19.00, for a total transaction of $475,000.00. Following the completion of the sale, the director directly owned 200,530 shares of the company’s stock, valued at $3,810,070. This represents a 11.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wesley Hastie Williams sold 49,867 shares of Cipher Mining stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $16.08, for a total value of $801,861.36. Following the completion of the transaction, the director owned 158,145 shares in the company, valued at $2,542,971.60. This trade represents a 23.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 4,970,973 shares of company stock valued at $102,884,253. Corporate insiders own 2.63% of the company’s stock.

Institutional Investors Weigh In On Cipher Mining

Several large investors have recently modified their holdings of CIFR. Dynamic Advisor Solutions LLC purchased a new position in Cipher Mining in the 4th quarter valued at $181,000. Chesapeake Asset Management LLC lifted its stake in shares of Cipher Mining by 32.6% in the 4th quarter. Chesapeake Asset Management LLC now owns 18,557 shares of the company’s stock worth $274,000 after acquiring an additional 4,557 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Cipher Mining by 218.3% in the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock valued at $28,000 after acquiring an additional 1,286 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in shares of Cipher Mining by 2,574.9% during the third quarter. Tudor Investment Corp ET AL now owns 2,386,854 shares of the company’s stock worth $30,050,000 after acquiring an additional 2,297,623 shares during the period. Finally, Value Aligned Research Advisors LLC purchased a new position in Cipher Mining during the third quarter worth about $64,266,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Cipher Mining Price Performance

Shares of CIFR opened at $16.63 on Monday. Cipher Mining has a 1-year low of $1.86 and a 1-year high of $25.52. The stock has a market cap of $6.57 billion, a PE ratio of -92.39 and a beta of 2.94. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.49 and a quick ratio of 2.49. The firm has a fifty day moving average price of $17.33 and a 200 day moving average price of $12.61.

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

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.