Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) shares fell 6.7% on Wednesday . The stock traded as low as $6.48 and last traded at $6.47. 3,258,793 shares changed hands during trading, a decline of 80% from the average session volume of 15,932,428 shares. The stock had previously closed at $6.94.
Analyst Ratings Changes
A number of analysts have commented on CIFR shares. Jones Trading raised shares of Cipher Mining to a "hold" rating in a report on Monday. Canaccord Genuity Group reaffirmed a "buy" rating and set a $8.00 target price on shares of Cipher Mining in a report on Thursday, May 8th. HC Wainwright reaffirmed a "buy" rating on shares of Cipher Mining in a report on Tuesday, May 6th. Rosenblatt Securities reaffirmed a "buy" rating and set a $5.50 target price on shares of Cipher Mining in a report on Wednesday, May 7th. Finally, Cantor Fitzgerald upped their target price on shares of Cipher Mining from $4.00 to $6.00 and gave the company an "overweight" rating in a report on Thursday, June 5th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $7.63.
Check Out Our Latest Research Report on CIFR
Cipher Mining Trading Down 3.4%
The company has a debt-to-equity ratio of 0.01, a current ratio of 1.11 and a quick ratio of 1.11. The stock's 50-day moving average is $4.61 and its two-hundred day moving average is $4.13. The stock has a market cap of $2.15 billion, a P/E ratio of -17.87 and a beta of 2.72.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). Cipher Mining had a negative net margin of 81.21% and a negative return on equity of 17.77%. The business had revenue of $48.96 million during the quarter, compared to analyst estimates of $53.57 million. Equities research analysts anticipate that Cipher Mining Inc. will post -0.31 EPS for the current year.
Insider Buying and Selling at Cipher Mining
In related news, major shareholder Top Holdco B.V. Bitfury sold 289,145 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $6.06, for a total value of $1,752,218.70. Following the transaction, the insider owned 93,378,292 shares of the company's stock, valued at $565,872,449.52. This trade represents a 0.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 3,378,290 shares of company stock valued at $20,074,097 over the last quarter. Corporate insiders own 2.89% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC bought a new position in Cipher Mining during the 2nd quarter worth about $127,000. 111 Capital bought a new position in Cipher Mining during the 2nd quarter worth about $114,000. Custos Family Office LLC bought a new position in Cipher Mining during the 2nd quarter worth about $48,000. Greenleaf Trust bought a new position in Cipher Mining during the 2nd quarter worth about $108,000. Finally, Farther Finance Advisors LLC grew its holdings in Cipher Mining by 33.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 55,992 shares of the company's stock worth $268,000 after acquiring an additional 14,072 shares in the last quarter. Hedge funds and other institutional investors 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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