Cipher Mining (NASDAQ:CIFR) Shares Up 5.9% - Still a Buy?

Key Points

• Shares rose 5.9% to $13.58 on Monday, with about 4.51 million shares traded — an 84% decline from the average daily volume of 28.4 million.
• Analyst sentiment is broadly positive: 14 Buys, 2 Holds and 1 Sell, giving a "Moderate Buy" consensus and an average price target of $23.68.
• Insiders have sold about 183,797 shares (~$2.92 million) in the last 90 days, while major institutions (Vanguard, Situational Awareness LP, State Street, etc.) substantially increased stakes, leaving mixed insider versus institutional positioning with institutional ownership around 12.26%.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) shares rose 5.9% during trading on Monday . The company traded as high as $13.57 and last traded at $13.5810. Approximately 4,511,898 shares traded hands during trading, a decline of 84% from the average daily volume of 28,399,828 shares. The stock had previously closed at $12.82.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CIFR. Canaccord Genuity Group restated a "buy" rating and issued a $27.00 target price on shares of Cipher Mining in a report on Monday, December 15th. Keefe, Bruyette & Woods lowered their price target on Cipher Mining from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Wednesday, March 11th. Zacks Research raised shares of Cipher Mining from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 25th. HC Wainwright reduced their target price on shares of Cipher Mining to $25.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. Finally, Needham & Company LLC reissued a "buy" rating and set a $22.00 price target on shares of Cipher Mining in a research report on Wednesday, March 25th. Fourteen 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.68.

Cipher Mining Price Performance

The stock has a market cap of $5.36 billion, a P/E ratio of -6.15 and a beta of 3.01. The business has a 50 day simple moving average of $15.18 and a 200-day simple moving average of $16.44. The company has a debt-to-equity ratio of 3.37, a quick ratio of 3.79 and a current ratio of 3.79.

Insider Activity at Cipher Mining

In other Cipher Mining news, Director Cary M. Grossman sold 30,000 shares of the business's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $14.54, for a total value of $436,200.00. Following the transaction, the director directly owned 170,530 shares in the company, valued at $2,479,506.20. The trade was a 14.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick Arthur Kelly sold 35,568 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $14.98, for a total transaction of $532,808.64. Following the transaction, the chief operating officer directly owned 1,441,508 shares of the company's stock, valued at $21,593,789.84. This represents a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 183,797 shares of company stock worth $2,915,655 in the last ninety days. Corporate insiders own 2.63% of the company's stock.

Hedge Funds Weigh In On Cipher Mining

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Cipher Mining by 43.2% in the fourth quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company's stock valued at $482,360,000 after buying an additional 9,865,533 shares during the period. Situational Awareness LP increased its holdings in Cipher Mining by 82.4% in the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company's stock worth $154,524,000 after acquiring an additional 4,728,600 shares during the last quarter. Geode Capital Management LLC increased its holdings in Cipher Mining by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company's stock worth $120,519,000 after acquiring an additional 558,105 shares during the last quarter. State Street Corp raised its stake in Cipher Mining by 10.2% in the 4th quarter. State Street Corp now owns 8,078,423 shares of the company's stock valued at $119,238,000 after acquiring an additional 745,030 shares during the period. Finally, Value Aligned Research Advisors LLC lifted its holdings in Cipher Mining by 45.9% during the fourth quarter. Value Aligned Research Advisors LLC now owns 7,447,495 shares of the company's stock valued at $109,925,000 after purchasing an additional 2,342,958 shares during the last quarter. 12.26% of the stock is owned by institutional investors.

About Cipher Mining

Cipher Mining Inc is a Nasdaq-listed bitcoin mining company that develops, owns and operates large-scale mining facilities across the United States. The company focuses on deploying advanced ASIC hardware and securing long-term low-cost power contracts to optimize bitcoin production. By strategically locating its sites in regions with abundant energy supply, Cipher Mining seeks to maintain a competitive cost structure and deliver efficient hashrate capacity growth.

Founded in 2021 and headquartered in Austin, Texas, Cipher Mining has pursued an integrated approach encompassing site development, equipment procurement and operations management.

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