Shares of Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $22.00 and last traded at $21.03, with a volume of 64032195 shares trading hands. The stock had previously closed at $20.89.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on CIFR shares. Jones Trading started coverage on Cipher Mining in a report on Monday, July 21st. They issued a "hold" rating for the company. Macquarie boosted their price objective on Cipher Mining from $8.00 to $16.00 and gave the company an "outperform" rating in a report on Monday, September 29th. BTIG Research boosted their price objective on Cipher Mining from $9.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday. HC Wainwright boosted their price objective on Cipher Mining from $7.50 to $17.00 and gave the company a "buy" rating in a report on Monday, September 29th. Finally, Needham & Company LLC boosted their price objective on Cipher Mining from $10.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, September 30th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cipher Mining has an average rating of "Moderate Buy" and a consensus target price of $16.68.
Check Out Our Latest Analysis on Cipher Mining
Cipher Mining Stock Up 0.7%
The company has a market cap of $8.27 billion, a price-to-earnings ratio of -48.91 and a beta of 2.87. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average of $10.47 and a two-hundred day moving average of $6.21.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.12). The company had revenue of $43.57 million during the quarter, compared to analysts' expectations of $51.89 million. Cipher Mining had a negative return on equity of 21.71% and a negative net margin of 96.95%. As a group, equities analysts anticipate that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.
Insiders Place Their Bets
In other Cipher Mining news, major shareholder Holding Ltd V3 sold 3,504,540 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $12.36, for a total transaction of $43,316,114.40. Following the completion of the transaction, the insider owned 71,437,719 shares of the company's stock, valued at $882,970,206.84. This represents a 4.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 18,022,964 shares of company stock valued at $192,926,623. Corporate insiders own 2.63% of the company's stock.
Hedge Funds Weigh In On Cipher Mining
A number of hedge funds have recently made changes to their positions in CIFR. Millennium Management LLC acquired a new position in shares of Cipher Mining during the first quarter valued at approximately $9,316,000. Alyeska Investment Group L.P. acquired a new position in shares of Cipher Mining during the first quarter valued at approximately $7,094,000. Helix Partners Management LP raised its holdings in shares of Cipher Mining by 95.8% during the first quarter. Helix Partners Management LP now owns 4,400,000 shares of the company's stock valued at $10,120,000 after acquiring an additional 2,153,058 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Cipher Mining by 996.9% during the second quarter. JPMorgan Chase & Co. now owns 2,227,021 shares of the company's stock valued at $10,645,000 after acquiring an additional 2,023,994 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Cipher Mining by 52.4% during the first quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company's stock valued at $10,765,000 after acquiring an additional 1,610,073 shares during the last quarter. Institutional investors and hedge funds own 12.26% of the company's stock.
About Cipher Mining
(
Get Free Report)
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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