Cipher Mining (NASDAQ:CIFR) Stock Gets Price Target Reduction from Sanford C. Bernstein

Cipher Mining (NASDAQ:CIFR) had its target price decreased by Sanford C. Bernstein from $32.00 to $23.00 in a report released on Wednesday morning,Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the stock. Needham & Company LLC reduced their target price on shares of Cipher Mining from $25.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday. Rothschild & Co Redburn started coverage on shares of Cipher Mining in a research note on Monday, September 21st. They set a “neutral” rating and a $18.00 target price on the stock. Keefe, Bruyette & Woods downgraded Cipher Mining from an “outperform” rating to a “market perform” rating and set a $9.50 price objective on the stock. in a research report on Wednesday. Citigroup reaffirmed a “market outperform” rating on shares of Cipher Mining in a research note on Monday, August 10th. Finally, Chardan Capital restated a “buy” rating and set a $32.00 target price on shares of Cipher Mining in a research report on Tuesday, August 4th. Fifteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.25.

Cipher Mining Price Performance

Shares of CIFR opened at $6.55 on Wednesday. Cipher Mining has a twelve month low of $5.07 and a twelve month high of $30.14. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of -2.13 and a beta of 3.53. The firm’s fifty day simple moving average is $13.24 and its 200-day simple moving average is $17.47. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 9.69.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results on Monday, November 2nd. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.03. The company had revenue of $26.70 million for the quarter, compared to analyst estimates of $39.31 million. Cipher Mining had a negative return on equity of 156.28% and a negative net margin of 742.33%. The business’s revenue for the quarter was down 62.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 EPS. Equities analysts forecast that Cipher Mining will post -1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Cipher Mining

Several hedge funds have recently made changes to their positions in CIFR. CoreCap Advisors LLC boosted its stake in Cipher Mining by 41.7% in the second quarter. CoreCap Advisors LLC now owns 1,700 shares of the company’s stock valued at $42,000 after acquiring an additional 500 shares in the last quarter. Abel Hall LLC boosted its stake in Cipher Mining by 3.8% during the first quarter. Abel Hall LLC now owns 20,140 shares of the company’s stock worth $259,000 after buying an additional 739 shares in the last quarter. Rathbones Group PLC increased its stake in shares of Cipher Mining by 7.0% in the 1st quarter. Rathbones Group PLC now owns 11,495 shares of the company’s stock valued at $148,000 after acquiring an additional 750 shares during the last quarter. DKM Wealth Management Inc. raised its stake in Cipher Mining by 5.8% in the 3rd quarter. DKM Wealth Management Inc. now owns 14,152 shares of the company’s stock valued at $224,000 after acquiring an additional 771 shares during the period. Finally, Navellier & Associates Inc. grew its position in Cipher Mining by 3.7% during the 2nd quarter. Navellier & Associates Inc. now owns 25,230 shares of the company’s stock worth $618,000 after acquiring an additional 901 shares during the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

More Cipher Mining News

Here are the key news stories impacting Cipher Mining this week:

• Positive Sentiment: A broad rebound in AI-infrastructure shares lifted CIFR, following a steep selloff tied to Texas political uncertainty. Article: TeraWulf Rises 4% After Q3 Beat and Google-Backed Anthropic Lease; IREN Surges 17%, Cipher Digital Climbs 6%
• Neutral Sentiment: CIFR reportedly rose after earnings, with its latest quarterly loss per share narrower than analysts expected. However, revenue missed estimates and fell 62.8% year over year, making the results mixed. Article: Cipher Mining Shares Climb Following Strong Earnings
• Negative Sentiment: Texas political developments have raised concerns about the outlook for data-center projects, weighing on Cipher and other former crypto miners repositioning as AI infrastructure providers. Article: Cipher Digital Stock Falls After Texas Governor Upset
• Negative Sentiment: Several analysts lowered their expectations: Bernstein cut its price target to $23 but kept an Outperform rating, while Keefe, Bruyette & Woods cut its rating to Market Perform. Reports also cite target cuts from Cantor Fitzgerald, Needham and Rosenblatt, and a pessimistic JPMorgan outlook. Article: Bernstein Lowers Cipher Mining Price Target Article: KBW Cuts Cipher Mining Rating to Market Perform

About Cipher Mining

Cipher Mining Inc (NASDAQ: CIFR) is a bitcoin mining company that develops and operates large-scale data center infrastructure in the United States. The company uses specialized application-specific integrated circuit (ASIC) computers to validate transactions on the Bitcoin network and earn bitcoin rewards.

Cipher focuses on securing access to cost-effective power, building and managing mining facilities, and deploying high-performance computing equipment. Its operations are supported by power infrastructure, cooling systems, networking equipment and other data center technologies required for energy-intensive digital asset mining.

The company was formed through the combination of Cipher Mining Technologies Inc and Good Works Acquisition Corp.