Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report)'s stock price reached a new 52-week high on Friday . The company traded as high as $18.18 and last traded at $17.99, with a volume of 50158074 shares traded. The stock had previously closed at $17.60.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. Jones Trading assumed coverage on shares of Cipher Mining in a research note on Monday, July 21st. They issued a "hold" rating on the stock. Macquarie increased their price objective on shares of Cipher Mining from $8.00 to $16.00 and gave the company an "outperform" rating in a research note on Monday, September 29th. HC Wainwright increased their price objective on shares of Cipher Mining from $7.50 to $17.00 and gave the company a "buy" rating in a research note on Monday, September 29th. Northland Securities set a $14.50 price objective on shares of Cipher Mining in a research note on Monday, September 29th. Finally, Compass Point assumed coverage on shares of Cipher Mining in a research note on Monday, September 15th. They issued a "buy" rating on the stock. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $15.23.
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Cipher Mining Stock Performance
The company has a market capitalization of $7.08 billion, a PE ratio of -41.84 and a beta of 2.87. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.18 and a current ratio of 4.18. The stock's fifty day simple moving average is $9.29 and its 200-day simple moving average is $5.74.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, hitting the consensus estimate of ($0.12). The business had revenue of $43.57 million for the quarter, compared to analyst estimates of $51.89 million. Cipher Mining had a negative net margin of 96.95% and a negative return on equity of 21.71%. As a group, equities analysts predict that Cipher Mining Inc. will post -0.31 earnings per share for the current year.
Insider Buying and Selling at Cipher Mining
In other news, major shareholder Holding Ltd V3 sold 3,504,540 shares of the stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $12.36, for a total transaction of $43,316,114.40. Following the transaction, the insider directly owned 71,437,719 shares in the company, valued at $882,970,206.84. This represents a 4.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 19,268,264 shares of company stock worth $200,506,491. Corporate insiders own 2.89% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC lifted its holdings in shares of Cipher Mining by 258.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company's stock worth $43,000 after acquiring an additional 6,516 shares during the period. Signal Advisors Wealth LLC purchased a new position in Cipher Mining in the second quarter valued at approximately $48,000. Custos Family Office LLC purchased a new position in Cipher Mining in the second quarter valued at approximately $48,000. Maripau Wealth Management LLC purchased a new position in Cipher Mining in the second quarter valued at approximately $48,000. Finally, Rafferty Asset Management LLC purchased a new position in Cipher Mining in the second quarter valued at approximately $54,000. 12.26% of the stock is currently owned by hedge funds and other institutional investors.
About Cipher Mining
(
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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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