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

Key Points

• Brokerages have a consensus “Moderate Buy” rating on Cipher Mining, with 15 buy ratings, 1 strong buy, 2 holds, and 1 sell. The average 1-year price target among recently updated analysts is about $27.69.
• Several analysts recently raised their price targets, including HC Wainwright to $30, Keefe, Bruyette & Woods to $27, and Needham to $25, signaling improving sentiment despite some bearish calls from other firms.
• The company reported a quarterly EPS miss and revenue below estimates, with revenue down 28.8% year over year. Insider selling has also been notable, including sales by the COO and CEO, though institutional investors such as Vanguard increased their holdings.

Shares of Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) have been given a consensus rating of "Moderate Buy" by the nineteen brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $27.6875.

Several analysts recently weighed in on CIFR shares. HC Wainwright increased their price target on Cipher Mining from $25.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Wall Street Zen lowered Cipher Mining from a "hold" rating to a "strong sell" rating in a report on Sunday, March 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Cipher Mining in a report on Friday, March 27th. Keefe, Bruyette & Woods increased their price target on Cipher Mining from $23.00 to $27.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. Finally, Needham & Company LLC increased their price target on Cipher Mining from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday, May 15th.

Insider Activity at Cipher Mining

In related news, COO Patrick Arthur Kelly sold 48,000 shares of the stock in a transaction on 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 approximately $28,107,932.16. This represents a 3.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Tyler Page sold 37,500 shares of the stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $16.11, for a total value of $604,125.00. Following the sale, the chief executive officer owned 8,263,862 shares in the company, valued at $133,130,816.82. The trade was a 0.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,213,804 shares of company stock worth $82,381,735 in the last ninety days. Corporate insiders own 2.63% of the company's stock.

Institutional Trading of Cipher Mining

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Cipher Mining by 13.4% during the 3rd quarter. Vanguard Group Inc. now owns 22,814,653 shares of the company's stock worth $287,236,000 after buying an additional 2,699,717 shares in the last quarter. American Century Companies Inc. grew its position in shares of 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 buying an additional 816,198 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Cipher Mining by 16.6% during the 4th quarter. HighTower Advisors LLC now owns 671,775 shares of the company's stock worth $9,915,000 after buying an additional 95,686 shares in the last quarter. Foundations Investment Advisors LLC bought a new position in shares of Cipher Mining during the 4th quarter worth $667,000. Finally, Tyche Wealth Partners LLC grew its position in shares of Cipher Mining by 119.0% during the 4th quarter. Tyche Wealth Partners LLC now owns 115,000 shares of the company's stock worth $1,697,000 after buying an additional 62,500 shares in the last quarter. Hedge funds and other institutional investors own 12.26% of the company's stock.

Cipher Mining Stock Down 8.7%

NASDAQ CIFR opened at $21.02 on Thursday. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13. The company has a market capitalization of $8.60 billion, a P/E ratio of -9.02 and a beta of 3.18. Cipher Mining has a one year low of $3.29 and a one year high of $28.62. The stock has a 50 day moving average price of $19.66 and a 200-day moving average price of $17.48.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $34.84 million for the quarter, compared to the consensus estimate of $36.12 million. The company's quarterly revenue was down 28.8% on a year-over-year basis. As a group, equities analysts predict that Cipher Mining will post -0.8 EPS for the current fiscal 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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