Cipher Mining Inc. (NASDAQ:CIFR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Cipher Mining Inc. (NASDAQ:CIFR) have been assigned an average rating of “Moderate Buy” from the nineteen research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, sixteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $28.7353.

Several brokerages recently commented on CIFR. Keefe, Bruyette & Woods upped their target price on Cipher Mining from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Cipher Mining in a research report on Wednesday, June 24th. Morgan Stanley reduced their price objective on shares of Cipher Mining from $48.50 to $47.00 and set an “overweight” rating on the stock in a research note on Monday, July 20th. Needham & Company LLC lifted their target price on shares of Cipher Mining from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 price target on shares of Cipher Mining in a research report on Thursday, June 25th.

Insider Transactions at Cipher Mining

In related news, COO Patrick Arthur Kelly sold 48,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $19.36, for a total transaction of $929,280.00. Following the sale, the chief operating officer owned 1,451,856 shares in the company, valued at $28,107,932.16. This represents a 3.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wesley Hastie Williams sold 28,169 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $22.26, for a total value of $627,041.94. Following the sale, the director directly owned 129,976 shares of the company’s stock, valued at $2,893,265.76. This represents a 17.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 3,245,336 shares of company stock worth $83,803,938. Corporate insiders own 2.63% of the company’s stock.

Hedge Funds Weigh In On Cipher Mining

Institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new position in Cipher Mining in the fourth quarter valued at approximately $25,000. Arax Advisory Partners grew its position in shares of Cipher Mining by 274.2% during the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock worth $27,000 after buying an additional 1,338 shares during the period. GAMMA Investing LLC grew its position in shares of Cipher Mining by 218.3% during the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after buying an additional 1,286 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Cipher Mining in the 4th quarter valued at $28,000. Finally, Danske Bank A S increased its stake in shares of Cipher Mining by 1,150.0% in the 4th quarter. Danske Bank A S now owns 2,500 shares of the company’s stock valued at $37,000 after acquiring an additional 2,300 shares in the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

Cipher Mining Stock Up 28.1%

Shares of CIFR opened at $22.66 on Friday. The stock’s 50-day moving average price is $23.34 and its two-hundred day moving average price is $19.04. Cipher Mining has a 12 month low of $4.55 and a 12 month high of $30.14. The company has a market capitalization of $9.27 billion, a PE ratio of -9.73 and a beta of 3.18. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The company had revenue of $34.84 million during the quarter, compared to analyst estimates of $36.12 million. Cipher Mining’s revenue for the quarter was down 28.8% compared to the same quarter last year. On average, analysts anticipate that Cipher Mining will post -0.8 EPS for the current year.

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.