Cipher Mining (NASDAQ:CIFR) PT Raised to $5.50 at HC Wainwright

Cipher Mining (NASDAQ:CIFR - Get Free Report) had its price target hoisted by HC Wainwright from $4.50 to $5.50 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price target would suggest a potential upside of 45.12% from the company's current price.

Several other research analysts have also recently commented on CIFR. Canaccord Genuity Group reiterated a "buy" rating and set a $5.50 price target on shares of Cipher Mining in a report on Thursday, March 28th. Cantor Fitzgerald reiterated an "overweight" rating and set a $5.00 price target on shares of Cipher Mining in a report on Thursday, March 28th. Finally, Needham & Company LLC restated a "buy" rating and issued a $5.00 target price on shares of Cipher Mining in a report on Monday, April 22nd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.42.

Cipher Mining Stock Down 15.2 %

Shares of CIFR stock traded down $0.68 during trading on Tuesday, reaching $3.79. The company's stock had a trading volume of 10,778,013 shares, compared to its average volume of 8,502,651. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.60 and a quick ratio of 4.60. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -38.20 and a beta of 2.32. The stock's 50-day moving average price is $4.02 and its 200 day moving average price is $3.51. Cipher Mining has a 1-year low of $1.76 and a 1-year high of $5.75.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. Cipher Mining had a negative net margin of 20.32% and a negative return on equity of 6.78%. The company had revenue of $43.42 million during the quarter, compared to analysts' expectations of $35.73 million. On average, research analysts anticipate that Cipher Mining will post -0.15 EPS for the current year.

Institutional Trading of Cipher Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in CIFR. Arizona State Retirement System acquired a new stake in shares of Cipher Mining during the third quarter worth about $33,000. Jump Financial LLC purchased a new position in shares of Cipher Mining during the third quarter worth about $244,000. Barclays PLC grew its holdings in shares of Cipher Mining by 93.4% during the third quarter. Barclays PLC now owns 15,982 shares of the company's stock worth $37,000 after buying an additional 7,720 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Cipher Mining by 104.9% during the third quarter. New York State Common Retirement Fund now owns 10,921 shares of the company's stock worth $25,000 after buying an additional 5,592 shares during the last quarter. Finally, Swiss National Bank purchased a new position in shares of Cipher Mining during the third quarter worth about $255,000. Institutional investors and hedge funds own 12.26% of the company's stock.

Cipher Mining Company Profile

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.