Cypherpunk Technologies (NASDAQ:CYPH) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Cypherpunk Technologies from “hold” to “buy.” Cantor Fitzgerald also raised its price target to $4.90 and assigned an “overweight” rating, though the broader analyst consensus remains “Hold.”
• Cypherpunk shares rose 17.3%, opening at $3.60, near their 12-month high of $3.71. The company reported quarterly EPS of $0.18 and has a market capitalization of approximately $388 million.
• Institutional ownership has increased, with hedge funds and other institutions holding 30.46% of the stock. However, director Thomas Dietz sold 20,000 shares at an average price of $1.72, reducing his stake by 13.11%.

Cypherpunk Technologies (NASDAQ:CYPH - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other brokerages also recently weighed in on CYPH. Cantor Fitzgerald increased their price target on shares of Cypherpunk Technologies from $1.60 to $4.90 and gave the company an "overweight" rating in a research report on Thursday, September 10th. Weiss Ratings upgraded shares of Cypherpunk Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, August 17th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $4.90.

Cypherpunk Technologies Trading Up 17.3%

NASDAQ CYPH opened at $3.60 on Friday. The stock has a 50-day simple moving average of $1.33 and a 200 day simple moving average of $1.00. The company has a market capitalization of $387.94 million, a PE ratio of 6.43 and a beta of 0.33. Cypherpunk Technologies has a 12 month low of $0.28 and a 12 month high of $3.71.

Cypherpunk Technologies (NASDAQ:CYPH - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter.

Insider Transactions at Cypherpunk Technologies

In other Cypherpunk Technologies news, Director Thomas Dietz sold 20,000 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $1.72, for a total value of $34,400.00. Following the completion of the sale, the director directly owned 132,500 shares in the company, valued at $227,900. This represents a 13.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Cypherpunk Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new stake in Cypherpunk Technologies during the 4th quarter worth approximately $44,000. Texas Capital Bank Wealth Management Services Inc bought a new position in Cypherpunk Technologies in the fourth quarter valued at approximately $121,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Cypherpunk Technologies by 217.7% in the second quarter. Sequoia Financial Advisors LLC now owns 152,500 shares of the company's stock valued at $93,000 after buying an additional 104,500 shares during the period. Cygnus Capital Advisors LLC boosted its holdings in shares of Cypherpunk Technologies by 2,044.6% in the second quarter. Cygnus Capital Advisors LLC now owns 246,460 shares of the company's stock valued at $151,000 after buying an additional 234,968 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Cypherpunk Technologies during the first quarter worth $576,000. 30.46% of the stock is currently owned by institutional investors and hedge funds.

Cypherpunk Technologies Company Profile

Cypherpunk Technologies Inc is a technology and investment company focused on the digital-asset, blockchain and privacy-technology sectors. The company seeks to identify, acquire and support businesses and projects that contribute to the development of decentralized networks, cryptocurrency infrastructure and privacy-enhancing technologies.

Its activities may include investing in digital assets and blockchain-related opportunities, as well as developing or participating in businesses connected to cryptocurrency and decentralized technology.

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