Cipher Mining (NASDAQ:CIFR) Price Target Raised to $22.00 at Keefe, Bruyette & Woods

Cipher Mining (NASDAQ:CIFR) had its target price raised by Keefe, Bruyette & Woods from $13.00 to $22.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

CIFR has been the subject of several other reports. Needham & Company LLC raised their price objective on shares of Cipher Mining from $15.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Northland Securities set a $27.50 price target on shares of Cipher Mining in a research report on Tuesday, November 4th. JMP Securities set a $30.00 price target on Cipher Mining in a research note on Wednesday, November 19th. Canaccord Genuity Group reissued a “buy” rating and issued a $27.00 price objective on shares of Cipher Mining in a report on Monday, December 15th. Finally, HC Wainwright upped their price objective on Cipher Mining to $30.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.54.

Cipher Mining Price Performance

CIFR stock opened at $18.75 on Tuesday. The stock’s 50 day moving average is $17.11 and its two-hundred day moving average is $13.66. Cipher Mining has a 52-week low of $1.86 and a 52-week high of $25.52. The company has a market capitalization of $7.41 billion, a PE ratio of -104.17 and a beta of 2.94. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.31.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Monday, November 3rd. The company reported ($0.01) EPS 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 analysts’ expectations of $79.13 million. Cipher Mining had a negative return on equity of 9.57% and a negative net margin of 34.16%. Analysts predict that Cipher Mining will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at Cipher Mining

In other news, Director Cary M. Grossman sold 25,000 shares of the 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 sale, the director directly owned 200,530 shares in the company, valued at approximately $3,810,070. This represents a 11.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James E. Newsome sold 21,821 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $16.03, for a total value of $349,790.63. Following the transaction, the director owned 172,492 shares of the company’s stock, valued at $2,765,046.76. This represents a 11.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 444,117 shares of company stock valued at $8,340,332 over the last ninety days. Insiders own 2.63% of the company’s stock.

Institutional Investors Weigh In On Cipher Mining

Large investors have recently added to or reduced their stakes in the stock. Sherman Asset Management Inc. acquired a new position in shares of Cipher Mining during the third quarter valued at $25,000. GAMMA Investing LLC lifted its position in Cipher Mining by 218.3% in the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock valued at $28,000 after purchasing an additional 1,286 shares during the last quarter. Hollencrest Capital Management acquired a new position in Cipher Mining during the 3rd quarter valued at about $31,000. CWM LLC boosted its stake in Cipher Mining by 43.3% during the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock valued at $39,000 after purchasing an additional 804 shares during the period. Finally, Peterson Wealth Services bought a new position in Cipher Mining in the 3rd quarter worth about $41,000. 12.26% of the stock is owned by institutional investors and hedge funds.

About Cipher Mining

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.