Cipher Mining Inc. (NASDAQ:CIFR) Given Consensus Rating of “Buy” by Analysts

Cipher Mining Inc. (NASDAQ:CIFR) has earned an average recommendation of “Buy” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $7.21.

Several analysts have recently issued reports on the stock. Compass Point boosted their price objective on shares of Cipher Mining from $7.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. HC Wainwright boosted their price target on Cipher Mining from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Macquarie assumed coverage on Cipher Mining in a report on Tuesday, September 24th. They issued an “outperform” rating and a $6.00 price objective on the stock. Northland Securities initiated coverage on Cipher Mining in a report on Wednesday, September 25th. They set an “outperform” rating and a $6.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 target price on shares of Cipher Mining in a research report on Tuesday, September 3rd.

Cipher Mining Stock Down 5.8 %

Shares of NASDAQ:CIFR opened at $3.87 on Tuesday. The company has a current ratio of 8.49, a quick ratio of 8.49 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 64.50 and a beta of 2.24. The stock’s 50-day moving average price is $3.93 and its two-hundred day moving average price is $4.22. Cipher Mining has a 12-month low of $2.15 and a 12-month high of $7.99.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Cipher Mining had a net margin of 11.43% and a return on equity of 3.41%. The business had revenue of $36.81 million for the quarter, compared to analysts’ expectations of $39.17 million. During the same period last year, the company earned ($0.05) earnings per share. On average, research analysts forecast that Cipher Mining will post -0.05 EPS for the current year.

Insider Activity

In related news, insider William Iwaschuk sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3.94, for a total transaction of $591,000.00. Following the transaction, the insider now directly owns 619,148 shares of the company’s stock, valued at approximately $2,439,443.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider William Iwaschuk sold 150,000 shares of Cipher Mining stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total transaction of $591,000.00. Following the sale, the insider now owns 619,148 shares of the company’s stock, valued at approximately $2,439,443.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $3.02, for a total transaction of $5,741,358.24. Following the completion of the transaction, the insider now owns 107,748,228 shares in the company, valued at approximately $325,399,648.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,462,980 shares of company stock worth $20,795,679. 2.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CIFR. Chesapeake Capital Corp IL acquired a new position in shares of Cipher Mining in the 4th quarter valued at approximately $167,000. Hel Ved Capital Management Ltd acquired a new stake in Cipher Mining in the fourth quarter valued at $1,310,000. First Financial Bankshares Inc bought a new position in Cipher Mining during the 4th quarter valued at $9,901,000. Shariaportfolio Inc. acquired a new position in Cipher Mining during the 4th quarter worth $2,460,000. Finally, Cantor Fitzgerald L. P. bought a new stake in shares of Cipher Mining in the 4th quarter worth about $747,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

About Cipher Mining

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.