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

Shares of Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seven brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $5.25.

CIFR has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $5.00 target price on shares of Cipher Mining in a report on Thursday, March 28th. Needham & Company LLC restated a "buy" rating and issued a $5.00 price target on shares of Cipher Mining in a research report on Monday, March 18th. HC Wainwright restated a "buy" rating and issued a $4.50 price target on shares of Cipher Mining in a research report on Tuesday, March 5th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $5.50 price target on shares of Cipher Mining in a research report on Thursday, March 28th.

Cipher Mining Price Performance

Shares of CIFR stock traded down $0.59 on Tuesday, reaching $4.29. The company's stock had a trading volume of 10,687,943 shares, compared to its average volume of 9,436,235. The stock's fifty day simple moving average is $3.56 and its 200-day simple moving average is $3.24. Cipher Mining has a 1 year low of $1.76 and a 1 year high of $5.75. The company has a current ratio of 4.60, a quick ratio of 4.60 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -42.90 and a beta of 2.21.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $43.42 million during the quarter, compared to analyst estimates of $35.73 million. Analysts forecast that Cipher Mining will post -0.22 earnings per share for the current fiscal year.

Institutional Trading of Cipher Mining

Several institutional investors and hedge funds have recently made changes to their positions in the business. Nomura Holdings Inc. bought a new stake in shares of Cipher Mining during the fourth quarter worth $213,000. Quadrature Capital Ltd bought a new stake in shares of Cipher Mining in the fourth quarter valued at about $513,000. B. Riley Wealth Advisors Inc. raised its holdings in shares of Cipher Mining by 50.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company's stock valued at $62,000 after acquiring an additional 5,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Cipher Mining by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 3,492,636 shares of the company's stock valued at $14,425,000 after acquiring an additional 177,676 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Cipher Mining in the fourth quarter valued at about $202,000. 12.26% of the stock is currently owned by institutional investors.

About Cipher Mining

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.