Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report)'s stock price fell 4.2% on Tuesday . The stock traded as low as $3.77 and last traded at $3.77. 947,807 shares were traded during mid-day trading, a decline of 93% from the average session volume of 12,730,569 shares. The stock had previously closed at $3.93.
Analyst Ratings Changes
A number of brokerages have commented on CIFR. Rosenblatt Securities reiterated a "buy" rating and issued a $5.50 price target on shares of Cipher Mining in a research note on Wednesday, May 7th. HC Wainwright reiterated a "buy" rating on shares of Cipher Mining in a report on Tuesday, May 6th. Needham & Company LLC lowered their price target on Cipher Mining from $7.50 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Cantor Fitzgerald raised their price objective on Cipher Mining from $4.00 to $6.00 and gave the company an "overweight" rating in a research report on Thursday, June 5th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $8.00 target price on shares of Cipher Mining in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $7.63.
Read Our Latest Stock Report on Cipher Mining
Cipher Mining Stock Down 6.5%
The stock's fifty day simple moving average is $3.19 and its 200-day simple moving average is $4.21. The stock has a market cap of $1.23 billion, a P/E ratio of -28.35 and a beta of 2.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. The business had revenue of $48.96 million during the quarter, compared to analysts' expectations of $53.57 million. As a group, research analysts forecast that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers increased its holdings in Cipher Mining by 23.1% in the 4th quarter. Rhumbline Advisers now owns 270,106 shares of the company's stock valued at $1,253,000 after buying an additional 50,630 shares during the period. New York State Common Retirement Fund raised its position in Cipher Mining by 70.8% during the fourth quarter. New York State Common Retirement Fund now owns 55,982 shares of the company's stock valued at $260,000 after purchasing an additional 23,200 shares in the last quarter. Private Advisor Group LLC lifted its stake in Cipher Mining by 90.4% during the fourth quarter. Private Advisor Group LLC now owns 200,940 shares of the company's stock worth $932,000 after purchasing an additional 95,400 shares during the last quarter. Matauro LLC acquired a new stake in shares of Cipher Mining in the 4th quarter valued at $154,000. Finally, Navellier & Associates Inc. increased its stake in shares of Cipher Mining by 11.6% in the 4th quarter. Navellier & Associates Inc. now owns 36,274 shares of the company's stock valued at $168,000 after purchasing an additional 3,756 shares during 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.
Further Reading
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