Cipher Mining (NASDAQ:CIFR) Stock Price Target Lowered at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Cipher Mining’s price target from $22 to $18 but maintained an “overweight” rating, implying roughly 126% upside from the stock’s $7.95 price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average target price of $26.06, despite multiple firms recently reducing their targets.
• Cipher Mining beat third-quarter loss estimates with an adjusted loss of $0.22 per share, but revenue fell 62.8% year over year to $26.7 million, well below the $39.31 million consensus estimate.

Cipher Mining (NASDAQ:CIFR - Get Free Report) had its price target lowered by research analysts at JPMorgan Chase & Co. from $22.00 to $18.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 126.30% from the stock's current price.

Other equities research analysts also recently issued reports about the stock. Freedom Capital upgraded shares of Cipher Mining to a "hold" rating in a research report on Friday, September 18th. Citigroup restated a "market outperform" rating on shares of Cipher Mining in a research note on Monday, August 10th. Morgan Stanley dropped their price objective on Cipher Mining from $54.00 to $51.50 and set an "overweight" rating for the company in a report on Monday, October 12th. Wells Fargo & Company cut their target price on Cipher Mining from $25.00 to $15.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, HC Wainwright reissued a "buy" rating on shares of Cipher Mining in a report on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $26.06.

Cipher Mining Price Performance

Shares of Cipher Mining stock traded up $1.09 during trading on Tuesday, hitting $7.95. 32,677,250 shares of the company's stock traded hands, compared to its average volume of 31,202,277. The company has a debt-to-equity ratio of 9.69, a current ratio of 3.00 and a quick ratio of 3.00. The firm's fifty day moving average price is $13.99 and its 200 day moving average price is $17.70. Cipher Mining has a twelve month low of $6.62 and a twelve month high of $30.14. The company has a market cap of $3.30 billion, a PE ratio of -2.78 and a beta of 3.20.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.03. Cipher Mining had a negative return on equity of 156.28% and a negative net margin of 585.75%. The company had revenue of $26.70 million during the quarter, compared to the consensus estimate of $39.31 million. During the same period in the prior year, the company earned $0.10 earnings per share. The company's revenue for the quarter was down 62.8% compared to the same quarter last year. Analysts forecast that Cipher Mining will post -1.36 earnings per share for the current year.

Institutional Investors Weigh In On Cipher Mining

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in shares of Cipher Mining by 567.1% in the second quarter. Wellington Management Group LLP now owns 3,985,806 shares of the company's stock valued at $97,652,000 after acquiring an additional 3,388,359 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Cipher Mining during the 1st quarter valued at $24,486,000. Moore Capital Management LP bought a new stake in shares of Cipher Mining during the 2nd quarter worth $35,077,000. Troluce Capital Advisors LLC bought a new stake in shares of Cipher Mining during the 1st quarter worth $17,374,000. Finally, Bank of America Corp DE boosted its holdings in shares of Cipher Mining by 237.7% in the 1st quarter. Bank of America Corp DE now owns 1,414,667 shares of the company's stock worth $18,207,000 after buying an additional 995,735 shares during the last quarter. 12.26% of the stock is owned by institutional investors.

Cipher Mining News Roundup

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

• Positive Sentiment: Cipher said it is expanding its high-performance computing (HPC) footprint, supported by $16.6 billion in contracted revenue, improved economics for its Barber Lake lease and a 5.9-gigawatt development pipeline. These figures strengthen the long-term investment case if the company can deliver the planned capacity. CIFR Q3 Earnings Call Highlights Growth Plans and Cost Pressures
• Positive Sentiment: The stock is participating in a sector-wide rebound among former Bitcoin miners transitioning into AI data-center hosting, helping restore investor interest in CIFR and comparable companies. Cipher Digital Soars as AI Data Center Stocks Rebound
• Positive Sentiment: Analysts at Needham, Rosenblatt and Cantor retained bullish ratings despite reducing their price targets, indicating that they still see substantial upside tied to the HPC strategy. Needham analyst rating
• Neutral Sentiment: Third-quarter adjusted loss was better than expected at $0.22 per share versus the forecasted $0.25 loss, but the earnings improvement was overshadowed by weak revenue. Cipher Digital Q3 earnings report
• Negative Sentiment: Revenue was $26.7 million, well below the $39.31 million consensus estimate and down 62.8% year over year. Bitcoin-mining revenue fell 71%, while initial HPC rent of $5.9 million replaced only part of the lost mining revenue. CIFR Stock Drops After Q3 Revenue Miss
• Negative Sentiment: High financing costs remain a major concern: reported borrowings of approximately $5.6 billion contributed to about $59 million in quarterly interest expense before the new data-center facilities are generating full rent. Cipher Digital Profit Is a Warrant Gain
• Negative Sentiment: Multiple firms cut their price targets, including Keefe Bruyette to $11, reflecting a reset in valuation after the revenue miss and uncertainty over the timing and profitability of HPC expansion. Cipher Mining price target lowered by Keefe Bruyette

Cipher Mining Company Profile

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.

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