Cipher Mining (NASDAQ:CIFR) Given New $6.00 Price Target at Cantor Fitzgerald

Cipher Mining (NASDAQ:CIFR - Free Report) had its price objective raised by Cantor Fitzgerald from $4.00 to $6.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

CIFR has been the subject of a number of other research reports. Needham & Company LLC decreased their target price on shares of Cipher Mining from $7.50 to $7.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Canaccord Genuity Group restated a "buy" rating and set a $8.00 price target on shares of Cipher Mining in a report on Thursday, May 8th. HC Wainwright restated a "buy" rating on shares of Cipher Mining in a report on Tuesday, May 6th. Rosenblatt Securities restated a "buy" rating and set a $5.50 price target on shares of Cipher Mining in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. cut Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $7.63.

Cipher Mining Trading Up 10.5%

NASDAQ:CIFR traded up $0.37 on Thursday, reaching $3.90. 22,750,752 shares of the stock traded hands, compared to its average volume of 12,517,403. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -30.00 and a beta of 2.58. The company's 50 day moving average is $2.98 and its 200-day moving average is $4.32. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. Cipher Mining has a 1-year low of $1.86 and a 1-year high of $7.99.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.11). The business had revenue of $48.96 million during the quarter, compared to the consensus estimate of $53.57 million. Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. Equities research analysts anticipate that Cipher Mining will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Cipher Mining

Large investors have recently modified their holdings of the company. NewEdge Advisors LLC bought a new position in shares of Cipher Mining in the 4th quarter worth $29,000. Stoneridge Investment Partners LLC bought a new position in Cipher Mining during the 1st quarter valued at $29,000. FNY Investment Advisers LLC lifted its stake in Cipher Mining by 42.9% during the 1st quarter. FNY Investment Advisers LLC now owns 16,000 shares of the company's stock valued at $36,000 after acquiring an additional 4,800 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in Cipher Mining during the 1st quarter valued at $37,000. Finally, KBC Group NV bought a new position in Cipher Mining during the 4th quarter valued at $46,000. 12.26% of the stock is currently owned by institutional investors.

About Cipher Mining

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.