Cantor Fitzgerald Issues Pessimistic Forecast for Cipher Mining (NASDAQ:CIFR) Stock Price

Cipher Mining (NASDAQ:CIFR) had its price objective decreased by analysts at Cantor Fitzgerald from $24.00 to $22.00 in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 33.09% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Zacks Research upgraded Cipher Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. HC Wainwright reduced their price objective on Cipher Mining to $25.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Rosenblatt Securities reissued a “buy” rating and set a $24.00 price objective on shares of Cipher Mining in a research report on Thursday, March 26th. Keefe, Bruyette & Woods reduced their price objective on Cipher Mining from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, March 11th. Finally, Wall Street Zen cut Cipher Mining from a “hold” rating to a “strong sell” rating in a research report on Sunday, March 1st. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cipher Mining currently has an average rating of “Moderate Buy” and an average price target of $24.82.

Cipher Mining Stock Up 1.0%

Shares of CIFR stock opened at $16.53 on Thursday. The company has a debt-to-equity ratio of 3.37, a quick ratio of 3.79 and a current ratio of 3.79. The stock has a market cap of $6.70 billion, a PE ratio of -7.65 and a beta of 3.01. The business’s fifty day moving average is $14.94 and its 200-day moving average is $16.47. Cipher Mining has a 1 year low of $2.20 and a 1 year high of $25.52.

Insiders Place Their Bets

In other news, COO Patrick Arthur Kelly sold 35,568 shares of Cipher Mining stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $14.98, for a total value of $532,808.64. Following the transaction, the chief operating officer directly owned 1,441,508 shares in the company, valued at approximately $21,593,789.84. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Tyler Page sold 37,500 shares of Cipher Mining stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $16.11, for a total value of $604,125.00. Following the completion of the transaction, the chief executive officer owned 8,263,862 shares in the company, valued at $133,130,816.82. The trade was a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 183,797 shares of company stock valued at $2,915,655. Company insiders own 2.63% of the company’s stock.

Hedge Funds Weigh In On Cipher Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in CIFR. Thames Capital Management LLC acquired a new stake in Cipher Mining during the third quarter valued at approximately $19,070,000. Soros Fund Management LLC boosted its holdings in Cipher Mining by 67.5% during the second quarter. Soros Fund Management LLC now owns 1,300,000 shares of the company’s stock valued at $6,214,000 after purchasing an additional 524,044 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cipher Mining by 13.4% in the 3rd quarter. Vanguard Group Inc. now owns 22,814,653 shares of the company’s stock worth $287,236,000 after acquiring an additional 2,699,717 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Cipher Mining by 138.2% in the 3rd quarter. American Century Companies Inc. now owns 1,406,864 shares of the company’s stock worth $17,712,000 after acquiring an additional 816,198 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in shares of Cipher Mining by 15.7% in the 3rd quarter. Private Advisor Group LLC now owns 1,789,462 shares of the company’s stock worth $22,529,000 after acquiring an additional 242,894 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors.

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.