Cipher Mining Inc. (NASDAQ:CIFR - Free Report) - Research analysts at HC Wainwright lifted their Q2 2024 EPS estimates for shares of Cipher Mining in a research note issued on Tuesday, May 7th. HC Wainwright analyst M. Colonnese now expects that the company will post earnings of ($0.04) per share for the quarter, up from their prior estimate of ($0.09). HC Wainwright currently has a "Buy" rating and a $5.50 price target on the stock. The consensus estimate for Cipher Mining's current full-year earnings is ($0.15) per share. HC Wainwright also issued estimates for Cipher Mining's Q3 2024 earnings at ($0.07) EPS, Q4 2024 earnings at ($0.06) EPS and FY2024 earnings at ($0.03) EPS.
Several other equities analysts also recently commented on CIFR. Canaccord Genuity Group reissued a "buy" rating and issued a $6.00 target price (up previously from $5.50) on shares of Cipher Mining in a report on Wednesday. Cantor Fitzgerald reissued an "overweight" rating and set a $5.00 price objective on shares of Cipher Mining in a report on Thursday, March 28th. Finally, Needham & Company LLC restated a "buy" rating and set a $5.00 price objective on shares of Cipher Mining in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $5.50.
View Our Latest Research Report on Cipher Mining
Cipher Mining Price Performance
CIFR stock traded down $0.23 during midday trading on Friday, hitting $3.72. The company's stock had a trading volume of 5,472,418 shares, compared to its average volume of 8,378,509. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.02. Cipher Mining has a 12 month low of $1.87 and a 12 month high of $5.75. The company has a 50 day moving average of $4.07 and a two-hundred day moving average of $3.53. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -37.20 and a beta of 2.32.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its quarterly earnings data on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.12. The firm had revenue of $43.42 million during the quarter, compared to analyst estimates of $35.73 million. Cipher Mining had a negative return on equity of 6.78% and a negative net margin of 20.32%.
Institutional Trading of Cipher Mining
Several hedge funds and other institutional investors have recently bought and sold shares of CIFR. Vanguard Group Inc. grew its stake in shares of Cipher Mining by 62.0% during the first quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company's stock valued at $29,134,000 after buying an additional 2,164,383 shares during the last quarter. Van ECK Associates Corp grew its position in Cipher Mining by 38.9% in the 1st quarter. Van ECK Associates Corp now owns 2,733,743 shares of the company's stock valued at $14,079,000 after acquiring an additional 765,238 shares during the last quarter. First Financial Bankshares Inc purchased a new stake in Cipher Mining in the fourth quarter worth $9,901,000. Exchange Traded Concepts LLC lifted its position in shares of Cipher Mining by 107.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 693,097 shares of the company's stock worth $2,862,000 after purchasing an additional 358,897 shares during the last quarter. Finally, Shariaportfolio Inc. purchased a new stake in shares of Cipher Mining during the fourth quarter valued at $2,460,000. Hedge funds and other institutional investors own 12.26% of the company's stock.
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.
Further Reading
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 "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
