Cipher Mining (NASDAQ:CIFR) Stock Price Up 9.2% - Here's Why

Key Points

• Cipher Mining shares jumped 9.2% to about $15.30 midday, trading as high as $15.35 on a volume of 5.98M shares—about a 79% decline from its average session volume.
• Analysts show a consensus Moderate Buy (14 Buys, 1 Hold, 2 Sells) with a consensus target of $23.68, while individual price targets span roughly $18–$27.
• Company insiders have recently reduced positions—116,297 shares (~$1.88M) sold in the past 90 days; Cipher Mining is a Nasdaq-listed bitcoin miner with a market cap around $6.06B and a negative P/E.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report)'s share price traded up 9.2% during mid-day trading on Monday . The company traded as high as $15.35 and last traded at $15.3040. 5,980,841 shares were traded during mid-day trading, a decline of 79% from the average session volume of 28,865,357 shares. The stock had previously closed at $14.01.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CIFR shares. Canaccord Genuity Group reissued a "buy" rating and set a $27.00 target price on shares of Cipher Mining in a research report on Monday, December 15th. Keefe, Bruyette & Woods cut their target price on shares of Cipher Mining from $22.00 to $20.00 and set an "outperform" rating on the stock in a report on Wednesday, March 11th. Zacks Research lowered shares of Cipher Mining from a "hold" rating to a "strong sell" rating in a research report on Tuesday, February 24th. Needham & Company LLC decreased their price objective on Cipher Mining to $22.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Finally, Wells Fargo & Company set a $18.00 target price on shares of Cipher Mining in a research note on Monday, November 24th. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.68.

Cipher Mining Trading Up 6.8%

The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 3.37. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of -6.90 and a beta of 2.96. The company has a fifty day simple moving average of $16.04 and a 200-day simple moving average of $16.17.

Insider Buying and Selling

In related news, COO Patrick Arthur Kelly sold 35,568 shares of the company's stock in a transaction on Monday, March 16th. The stock was 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 approximately $21,593,789.84. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James E. Newsome sold 45,161 shares of the firm's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $15.74, for a total value of $710,834.14. Following the sale, the director owned 127,331 shares of the company's stock, valued at $2,004,189.94. The trade was a 26.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 116,297 shares of company stock valued at $1,875,330 in the last ninety days. Company insiders own 2.63% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC acquired a new stake in shares of Cipher Mining in the 4th quarter valued at $25,000. Arax Advisory Partners raised its holdings in Cipher Mining by 274.2% during the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company's stock valued at $27,000 after buying an additional 1,338 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Cipher Mining by 218.3% in the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company's stock worth $28,000 after buying an additional 1,286 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Cipher Mining during the 4th quarter worth about $28,000. Finally, Sherman Asset Management Inc. bought a new stake in shares of Cipher Mining during the 3rd quarter worth about $25,000. Institutional investors and hedge funds own 12.26% of the company's stock.

Cipher Mining Company Profile

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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