Shares of Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $6.05, but opened at $5.81. Cipher Mining shares last traded at $5.65, with a volume of 9,396,359 shares trading hands.
Analyst Ratings Changes
Several equities research analysts have weighed in on CIFR shares. Rosenblatt Securities restated a "buy" rating and set a $5.50 target price on shares of Cipher Mining in a research note on Wednesday, May 7th. Canaccord Genuity Group restated a "buy" rating and set a $8.00 price objective on shares of Cipher Mining in a research report on Thursday, May 8th. HC Wainwright reiterated a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. JPMorgan Chase & Co. cut shares of Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. Finally, Cantor Fitzgerald raised their price target on shares of Cipher Mining from $4.00 to $6.00 and gave the company an "overweight" rating in a research note on Thursday, June 5th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $7.63.
Check Out Our Latest Stock Report on Cipher Mining
Cipher Mining Stock Down 4.3%
The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.01. The stock's 50 day moving average is $3.72 and its 200-day moving average is $4.01.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced 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). 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 the consensus estimate of $53.57 million. On average, equities analysts anticipate that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 500,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $2,430,000.00. Following the completion of the sale, the insider directly owned 97,067,437 shares in the company, valued at $471,747,743.82. The trade was a 0.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.89% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Cipher Mining
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC grew its holdings in Cipher Mining by 3.6% during the 4th quarter. Voya Investment Management LLC now owns 59,135 shares of the company's stock valued at $274,000 after buying an additional 2,036 shares in the last quarter. Xponance Inc. increased its holdings in Cipher Mining by 17.8% in the 4th quarter. Xponance Inc. now owns 14,151 shares of the company's stock valued at $66,000 after acquiring an additional 2,140 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Cipher Mining by 17.4% in the 4th quarter. Russell Investments Group Ltd. now owns 14,524 shares of the company's stock worth $67,000 after purchasing an additional 2,149 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Cipher Mining by 26.6% during the 4th quarter. Mackenzie Financial Corp now owns 13,095 shares of the company's stock valued at $61,000 after purchasing an additional 2,754 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Cipher Mining by 11.7% during the first quarter. Wellington Management Group LLP now owns 27,990 shares of the company's stock valued at $64,000 after purchasing an additional 2,940 shares in the last quarter. Institutional investors own 12.26% of the company's stock.
Cipher Mining Company Profile
(
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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