Cipher Mining (NASDAQ:CIFR) Earns Hold Rating from Analysts at Jones Trading

Stock analysts at Jones Trading began coverage on shares of Cipher Mining (NASDAQ:CIFR - Get Free Report) in a report released on Monday,Benzinga reports. The firm set a "hold" rating on the stock.

Several other equities research analysts also recently commented on the company. Canaccord Genuity Group reissued a "buy" rating and issued a $8.00 price objective on shares of Cipher Mining in a report on Thursday, May 8th. Cantor Fitzgerald lifted their target price on Cipher Mining from $4.00 to $6.00 and gave the stock an "overweight" rating in a research note on Thursday, June 5th. HC Wainwright reaffirmed a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $5.50 price target on shares of Cipher Mining in a report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Cipher Mining has a consensus rating of "Buy" and an average price target of $7.63.

Cipher Mining Trading Up 2.3%

NASDAQ CIFR traded up $0.15 during trading hours on Monday, hitting $6.51. The company's stock had a trading volume of 17,271,144 shares, compared to its average volume of 15,679,109. The stock has a fifty day moving average of $4.34 and a 200 day moving average of $4.08. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.01. Cipher Mining has a twelve month low of $1.86 and a twelve month high of $7.77. The firm has a market capitalization of $2.18 billion, a P/E ratio of -18.01 and a beta of 2.72.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.11). The firm had revenue of $48.96 million during the quarter, compared to analysts' expectations of $53.57 million. Cipher Mining had a negative net margin of 81.21% and a negative return on equity of 17.77%. Equities research analysts forecast that Cipher Mining will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at Cipher Mining

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 667,010 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $6.11, for a total value of $4,075,431.10. Following the completion of the sale, the insider directly owned 93,667,437 shares of the company's stock, valued at approximately $572,308,040.07. This represents a 0.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 3,378,290 shares of company stock worth $20,074,097. 2.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Cipher Mining

A number of hedge funds have recently made changes to their positions in the business. Greenleaf Trust purchased a new stake in shares of Cipher Mining during the 2nd quarter worth approximately $108,000. Farther Finance Advisors LLC lifted its position in shares of Cipher Mining by 33.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 55,992 shares of the company's stock valued at $268,000 after buying an additional 14,072 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in Cipher Mining in the 2nd quarter worth about $94,000. Signal Advisors Wealth LLC purchased a new stake in Cipher Mining in the 2nd quarter worth about $48,000. Finally, DLK Investment Management LLC raised its stake in Cipher Mining by 18.4% in the 2nd quarter. DLK Investment Management LLC now owns 19,300 shares of the company's stock valued at $92,000 after acquiring an additional 3,000 shares during the period. 12.26% of the stock is currently owned by institutional investors.

Cipher Mining Company Profile

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.

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