Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report)'s stock price 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.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on CIFR. JPMorgan Chase & Co. cut shares of Cipher Mining from an "overweight" rating to a "neutral" rating in a research note on Thursday, March 13th. Canaccord Genuity Group reissued a "buy" rating and issued a $8.00 price target on shares of Cipher Mining in a research note on Thursday, May 8th. Cantor Fitzgerald lifted their target price on shares of Cipher Mining from $4.00 to $6.00 and gave the stock an "overweight" rating in a research note on Thursday, June 5th. Rosenblatt Securities restated a "buy" rating and set a $5.50 target price on shares of Cipher Mining in a report on Wednesday, May 7th. Finally, HC Wainwright reissued a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Cipher Mining presently has an average rating of "Buy" and a consensus price target of $7.63.
Check Out Our Latest Stock Analysis on Cipher Mining
Cipher Mining Trading Down 4.7%
The company has a 50 day moving average of $3.72 and a 200-day moving average of $4.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -15.99 and a beta of 2.72.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $48.96 million for the quarter, compared to analyst estimates of $53.57 million. Cipher Mining had a negative return on equity of 17.77% and a negative net margin of 81.21%. On average, research analysts anticipate that Cipher Mining Inc. will post -0.31 earnings per share for the current year.
Insider Transactions at Cipher Mining
In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 500,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $4.86, for a total value of $2,430,000.00. Following the sale, the insider owned 97,067,437 shares of the company's stock, valued at $471,747,743.82. This trade represents a 0.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.89% of the stock is currently owned by company insiders.
Institutional Trading of Cipher Mining
A number of hedge funds and other institutional investors have recently bought and sold shares of CIFR. JPMorgan Chase & Co. increased its position in shares of Cipher Mining by 510.2% during the fourth quarter. JPMorgan Chase & Co. now owns 954,209 shares of the company's stock worth $4,428,000 after purchasing an additional 797,824 shares in the last quarter. Vanguard Group Inc. grew its holdings in Cipher Mining by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company's stock worth $84,318,000 after acquiring an additional 1,189,756 shares during the period. Federated Hermes Inc. acquired a new position in shares of Cipher Mining during the 4th quarter worth $2,029,000. Charles Schwab Investment Management Inc. grew its position in Cipher Mining by 33.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,139,553 shares of the company's stock worth $14,568,000 after buying an additional 783,509 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Cipher Mining by 61.9% in the 4th quarter. American Century Companies Inc. now owns 455,041 shares of the company's stock worth $2,111,000 after acquiring an additional 173,906 shares during the period. 12.26% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading
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