Cipher Mining Inc. (NASDAQ:CIFR) Receives $23.68 Average Price Target from Analysts

Cipher Mining Inc. (NASDAQ:CIFR) has received a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $23.6786.

A number of research firms have recently weighed in on CIFR. Rosenblatt Securities reissued a “buy” rating and set a $24.00 target price on shares of Cipher Mining in a research report on Thursday, March 26th. Zacks Research raised shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Keefe, Bruyette & Woods dropped their price objective on Cipher Mining from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a research report on Friday. Finally, Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Cipher Mining in a research note on Wednesday, March 25th.

Cipher Mining Price Performance

Shares of NASDAQ:CIFR opened at $12.02 on Friday. The company has a market capitalization of $4.87 billion, a P/E ratio of -5.56 and a beta of 2.96. The company’s 50-day moving average is $15.57 and its 200 day moving average is $16.40. The company has a debt-to-equity ratio of 3.37, a quick ratio of 3.79 and a current ratio of 3.79. Cipher Mining has a fifty-two week low of $1.86 and a fifty-two week high of $25.52.

Insider Transactions at Cipher Mining

In related news, 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 sale, the chief executive officer owned 8,263,862 shares of the company’s stock, valued at approximately $133,130,816.82. This trade represents a 0.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James E. Newsome sold 45,161 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $15.74, for a total value of $710,834.14. Following the completion of the sale, the director owned 127,331 shares in the company, valued at $2,004,189.94. This represents a 26.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 183,797 shares of company stock worth $2,915,655 over the last 90 days. 2.63% of the stock is owned by insiders.

Institutional Trading of Cipher Mining

Institutional investors have recently modified their holdings of the business. Los Angeles Capital Management LLC bought a new position in Cipher Mining in the 4th quarter worth approximately $25,000. Arax Advisory Partners raised its holdings in Cipher Mining by 274.2% during the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock valued at $27,000 after acquiring an additional 1,338 shares during the period. GAMMA Investing LLC raised its holdings in Cipher Mining by 218.3% during the 4th 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 during the period. Meeder Asset Management Inc. purchased a new stake in shares of Cipher Mining during the fourth quarter worth $28,000. Finally, Sherman Asset Management Inc. purchased a new stake in shares of Cipher Mining during the third quarter worth $25,000. 12.26% of the stock is currently owned by hedge funds and other 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.