Cipher Mining Inc. (NASDAQ:CIFR) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Cipher Mining, with 16 buy ratings, one strong-buy, one hold and one sell among 19 firms. The average 12-month price target is $28.61, well above the stock’s reported $15.36 opening price.
• Cipher Mining reported a quarterly loss of $0.65 per share, missing the $0.25 loss estimate, while revenue of $24.84 million fell short of the $31.86 million consensus forecast.
• Insiders sold $81.4 million of company stock over the past 90 days, including sales by the CEO and a director; insiders retain 3.09% ownership, while institutional investors own 12.26%.

Shares of Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) have received an average recommendation of "Moderate Buy" from the nineteen research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $28.6111.

CIFR has been the subject of a number of recent analyst reports. Citigroup reaffirmed a "market outperform" rating on shares of Cipher Mining in a research note on Monday, August 10th. Needham & Company LLC upped their target price on Cipher Mining from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday, May 15th. Chardan Capital reissued a "buy" rating and issued a $32.00 price target on shares of Cipher Mining in a research report on Tuesday, August 4th. Keefe, Bruyette & Woods decreased their price target on shares of Cipher Mining from $32.00 to $28.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. Finally, HC Wainwright boosted their price objective on shares of Cipher Mining from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th.

Insider Activity at Cipher Mining

In related news, CEO Tyler Page sold 112,500 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $21.19, for a total transaction of $2,383,875.00. Following the completion of the sale, the chief executive officer directly owned 9,084,225 shares in the company, valued at approximately $192,494,727.75. This trade represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James E. Newsome sold 3,758 shares of Cipher Mining stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $26.60, for a total value of $99,962.80. Following the sale, the director directly owned 128,530 shares of the company's stock, valued at approximately $3,418,898. The trade was a 2.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 3,131,258 shares of company stock worth $81,429,288. Corporate insiders own 3.09% of the company's stock.

Hedge Funds Weigh In On Cipher Mining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CoreCap Advisors LLC raised its stake in shares of Cipher Mining by 41.7% in the 2nd quarter. CoreCap Advisors LLC now owns 1,700 shares of the company's stock valued at $42,000 after acquiring an additional 500 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Cipher Mining during the fourth quarter worth approximately $25,000. Arax Advisory Partners grew 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 purchasing an additional 1,338 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Cipher Mining during the fourth quarter valued at approximately $28,000. Finally, Ancora Advisors LLC bought a new position in shares of Cipher Mining in the second quarter valued at approximately $49,000. Institutional investors own 12.26% of the company's stock.

Cipher Mining Price Performance

CIFR stock opened at $15.36 on Tuesday. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 9.69. Cipher Mining has a one year low of $6.02 and a one year high of $30.14. The firm has a market capitalization of $6.37 billion, a PE ratio of -5.37 and a beta of 3.20. The firm has a 50-day moving average of $21.32 and a two-hundred day moving average of $19.09.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.40). Cipher Mining had a negative return on equity of 156.28% and a negative net margin of 585.75%.The firm had revenue of $24.84 million during the quarter, compared to analyst estimates of $31.86 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. On average, analysts forecast that Cipher Mining will post -1.37 earnings per share for the current year.

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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