Wall Street Zen Upgrades Cipher Mining (NASDAQ:CIFR) to Hold

Cipher Mining (NASDAQ:CIFR) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts have also weighed in on the company. Wells Fargo & Company set a $18.00 price objective on Cipher Mining in a report on Monday, November 24th. JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and upped their price target for the company from $12.00 to $18.00 in a research report on Monday, November 24th. HC Wainwright lifted their price objective on Cipher Mining to $30.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. BTIG Research restated a “buy” rating and issued a $25.00 price objective on shares of Cipher Mining in a research note on Wednesday, November 5th. Finally, Citizens Jmp set a $30.00 target price on shares of Cipher Mining in a research report on Wednesday, November 19th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.11.

Cipher Mining Stock Down 7.3%

CIFR opened at $14.65 on Friday. Cipher Mining has a twelve month low of $1.86 and a twelve month high of $25.52. The company’s 50-day moving average price is $16.35 and its two-hundred day moving average price is $14.79. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of -81.39 and a beta of 2.95. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.31.

Insider Buying and Selling

In related news, Director Cary M. Grossman sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $19.00, for a total transaction of $475,000.00. Following the sale, the director owned 200,530 shares of the company’s stock, valued at approximately $3,810,070. This represents a 11.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Patrick Arthur Kelly sold 35,569 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $15.08, for a total transaction of $536,380.52. Following the completion of the sale, the chief operating officer owned 1,151,770 shares in the company, valued at $17,368,691.60. This represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 182,825 shares of company stock valued at $3,075,820 in the last three months. Insiders own 2.63% of the company’s stock.

Hedge Funds Weigh In On Cipher Mining

A number of institutional investors have recently added to or reduced their stakes in the business. CWM LLC raised its holdings in shares of Cipher Mining by 43.3% in the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock valued at $39,000 after acquiring an additional 804 shares in the last quarter. Prospera Financial Services Inc increased its position in shares of Cipher Mining by 6.7% in the fourth quarter. Prospera Financial Services Inc now owns 15,600 shares of the company’s stock worth $230,000 after purchasing an additional 980 shares during the last quarter. GAMMA Investing LLC raised its stake in 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 purchasing an additional 1,286 shares in the last quarter. Arax Advisory Partners lifted its position in Cipher Mining by 274.2% during the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock valued at $27,000 after purchasing an additional 1,338 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Cipher Mining by 26.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the company’s stock worth $104,000 after buying an additional 1,468 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors.

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.