Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report)'s share price traded up 10.1% during trading on Tuesday . The stock traded as high as $6.80 and last traded at $6.88. 39,316,600 shares changed hands during trading, an increase of 90% from the average session volume of 20,665,180 shares. The stock had previously closed at $6.25.
Analyst Ratings Changes
Several equities analysts recently issued reports on the stock. Rosenblatt Securities reissued a "buy" rating and set a $5.50 price target on shares of Cipher Mining in a report on Wednesday, May 7th. HC Wainwright reiterated a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. Canaccord Genuity Group reiterated a "buy" rating and set a $8.00 price target on shares of Cipher Mining in a research report on Thursday, May 8th. Jones Trading upgraded shares of Cipher Mining to a "hold" rating in a research report on Monday. Finally, Cantor Fitzgerald increased their target price on shares of Cipher Mining from $4.00 to $6.00 and gave the stock an "overweight" rating in a report on Thursday, June 5th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $7.63.
Check Out Our Latest Report on Cipher Mining
Cipher Mining Stock Performance
The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.01. The company's 50-day simple moving average is $4.61 and its 200-day simple moving average is $4.13. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -17.74 and a beta of 2.72.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued 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 business had revenue of $48.96 million for the quarter, compared to analyst estimates of $53.57 million. Cipher Mining had a negative net margin of 81.21% and a negative return on equity of 17.77%. On average, analysts expect 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 667,010 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $6.11, for a total transaction of $4,075,431.10. Following the transaction, the insider directly owned 93,667,437 shares of the company's stock, valued at $572,308,040.07. This trade represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 3,378,290 shares of company stock worth $20,074,097 over the last 90 days. 2.89% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. NewEdge Advisors LLC purchased a new stake in shares of Cipher Mining during the 4th quarter valued at approximately $29,000. Signal Advisors Wealth LLC bought a new stake in Cipher Mining during the second quarter valued at approximately $48,000. Custos Family Office LLC bought a new stake in Cipher Mining during the second quarter valued at approximately $48,000. Rafferty Asset Management LLC bought a new stake in Cipher Mining during the fourth quarter valued at approximately $49,000. Finally, Captrust Financial Advisors bought a new stake in Cipher Mining during the fourth quarter valued at approximately $54,000. 12.26% of the stock is owned by institutional investors.
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.
Recommended Stories
Before you consider Cipher Mining, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cipher Mining wasn't on the list.
While Cipher Mining currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
