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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Cipher Mining, with 16 buy ratings, one strong buy, one hold and one sell among 19 firms. The average 12-month price target is $28.74, although recent targets have ranged from $22 to $47.
• Cipher Mining’s shares opened at $22.66, near their 50-day average of $23.34, with a market capitalization of $9.27 billion and a 52-week range of $4.55 to $30.14. The stock carries high volatility, reflected by a beta of 3.18 and a debt-to-equity ratio of 6.13.
• Quarterly results fell short of expectations: Cipher reported an adjusted loss of $0.28 per share versus the $0.27 consensus estimate, while revenue of $34.84 million declined 28.8% year over year and missed forecasts. Insiders sold roughly 3.25 million shares worth $83.8 million during the last quarter.

Shares of Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the nineteen research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $28.7353.

Several analysts recently weighed in on the company. Cantor Fitzgerald reduced their price objective on Cipher Mining from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Morgan Stanley lowered their target price on Cipher Mining from $48.50 to $47.00 and set an "overweight" rating for the company in a research note on Monday, July 20th. Sanford C. Bernstein began coverage on shares of Cipher Mining in a report on Wednesday, June 3rd. They issued an "outperform" rating and a $32.00 target price for the company. Keefe, Bruyette & Woods raised their price target on shares of Cipher Mining from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, BTIG Research lifted their price target on shares of Cipher Mining from $25.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, June 24th.

Cipher Mining Stock Performance

Shares of NASDAQ:CIFR opened at $22.66 on Friday. The company's 50 day simple moving average is $23.34 and its 200 day simple moving average is $19.04. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of -9.73 and a beta of 3.18. 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 has a 1 year low of $4.55 and a 1 year high of $30.14.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The business had revenue of $34.84 million for the quarter, compared to the consensus estimate of $36.12 million. The business's revenue was down 28.8% compared to the same quarter last year. As a group, research analysts predict that Cipher Mining will post -0.8 EPS for the current fiscal year.

Insider Activity

In other news, Director James E. Newsome sold 3,758 shares of the company's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $26.60, for a total transaction of $99,962.80. Following the completion of the transaction, the director directly owned 128,530 shares in the company, valued at approximately $3,418,898. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wesley Hastie Williams sold 14,567 shares of the company's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $21.41, for a total value of $311,879.47. Following the completion of the transaction, the director directly owned 115,409 shares of the company's stock, valued at approximately $2,470,906.69. The trade was a 11.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 3,245,336 shares of company stock valued at $83,803,938. 2.63% of the stock is currently owned by insiders.

Institutional Trading of Cipher Mining

Several hedge funds and other institutional investors have recently made changes to their positions in CIFR. Los Angeles Capital Management LLC bought a new position in Cipher Mining in the 4th quarter valued at approximately $25,000. Arax Advisory Partners grew its holdings in Cipher Mining by 274.2% during the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company's stock worth $27,000 after acquiring an additional 1,338 shares during the last quarter. GAMMA Investing LLC increased its position in Cipher Mining by 218.3% in the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company's stock valued at $28,000 after acquiring an additional 1,286 shares during the period. Meeder Asset Management Inc. acquired a new position in Cipher Mining in the 4th quarter valued at approximately $28,000. Finally, Danske Bank A S raised its stake in shares of Cipher Mining by 1,150.0% during the fourth quarter. Danske Bank A S now owns 2,500 shares of the company's stock valued at $37,000 after acquiring an additional 2,300 shares during the last quarter. 12.26% of the stock is currently owned by institutional investors.

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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