Cipher Mining Inc. (NASDAQ:CIFR) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Cipher Mining has a consensus analyst rating of “Moderate Buy” from 19 analysts, with an average 12-month price target of about $28.31.
• Recent analyst actions were mostly positive, including higher price targets and buy/outperform ratings from firms such as BTIG Research, Keefe, Bruyette & Woods, Sanford C. Bernstein, and Jefferies, though Weiss Ratings maintained a sell rating.
• Insider activity has been notable, with major shareholder V3 Holding Ltd and Director Wesley Hastie Williams selling shares; over the last 90 days, insiders sold 3.13 million shares worth about $81.4 million.

Shares of Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) have received a consensus rating of "Moderate Buy" from the nineteen analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $28.3125.

Several analysts have recently weighed in on CIFR shares. BTIG Research lifted their target price on shares of Cipher Mining from $25.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Keefe, Bruyette & Woods raised their price target on shares of Cipher Mining from $23.00 to $27.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cipher Mining in a report on Wednesday, June 24th. Sanford C. Bernstein assumed coverage on Cipher Mining in a research note on Wednesday, June 3rd. They issued an "outperform" rating and a $32.00 price objective on the stock. Finally, Jefferies Financial Group began coverage on Cipher Mining in a report on Thursday, May 14th. They issued a "buy" rating and a $32.00 target price for the company.

Insider Transactions at Cipher Mining

In other news, major shareholder Holding Ltd V3 sold 1,200,000 shares of the business's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $25.49, for a total value of $30,588,000.00. Following the sale, the insider owned 58,316,694 shares in the company, valued at approximately $1,486,492,530.06. The trade was a 2.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wesley Hastie Williams sold 14,567 shares of the business's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $21.41, for a total transaction of $311,879.47. Following the completion of the sale, the director owned 115,409 shares in the company, valued at $2,470,906.69. This represents a 11.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,132,836 shares of company stock valued at $81,420,063. 2.63% of the stock is owned by insiders.

Hedge Funds Weigh In On Cipher Mining

Institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its stake in shares of Cipher Mining by 16.6% in the fourth quarter. HighTower Advisors LLC now owns 671,775 shares of the company's stock valued at $9,915,000 after acquiring an additional 95,686 shares during the last quarter. American Century Companies Inc. grew its position in Cipher Mining by 138.2% during the 3rd quarter. American Century Companies Inc. now owns 1,406,864 shares of the company's stock worth $17,712,000 after acquiring an additional 816,198 shares during the last quarter. Foundations Investment Advisors LLC bought a new stake in Cipher Mining during the 4th quarter worth approximately $667,000. Purpose Unlimited Inc. acquired a new stake in Cipher Mining during the 4th quarter valued at $1,558,000. Finally, Tyche Wealth Partners LLC increased its holdings in Cipher Mining by 119.0% during the 4th quarter. Tyche Wealth Partners LLC now owns 115,000 shares of the company's stock valued at $1,697,000 after purchasing an additional 62,500 shares in the last quarter. 12.26% of the stock is owned by institutional investors.

Cipher Mining Price Performance

Shares of CIFR stock opened at $20.04 on Monday. The stock has a market cap of $8.20 billion, a P/E ratio of -8.60 and a beta of 3.18. Cipher Mining has a one year low of $4.55 and a one year high of $30.14. The stock has a fifty day moving average price of $22.77 and a 200 day moving average price of $18.32. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) 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 business had revenue of $34.84 million during the quarter, compared to the consensus estimate of $36.12 million. Cipher Mining's revenue was down 28.8% on a year-over-year basis. Analysts predict that Cipher Mining will post -0.8 earnings per share 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.

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