Cipher Mining Inc. (NASDAQ:CIFR) Receives $5.25 Consensus Price Target from Analysts

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the seven ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $5.25.

Several research analysts recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $5.00 price target on shares of Cipher Mining in a research note on Monday, April 22nd. Cantor Fitzgerald reissued an "overweight" rating and set a $5.00 target price on shares of Cipher Mining in a research report on Thursday, March 28th. HC Wainwright reissued a "buy" rating and set a $4.50 target price on shares of Cipher Mining in a research report on Tuesday, March 5th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $5.50 target price on shares of Cipher Mining in a research report on Thursday, March 28th.

Cipher Mining Trading Up 1.6 %

CIFR stock traded up $0.07 during trading on Friday, hitting $4.50. The company had a trading volume of 3,506,857 shares, compared to its average volume of 6,037,537. The firm has a market capitalization of $1.33 billion, a P/E ratio of -45.00 and a beta of 2.22. Cipher Mining has a 52-week low of $1.76 and a 52-week high of $5.75. The company has a 50 day simple moving average of $3.94 and a 200-day simple moving average of $3.44. 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 (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. The company had revenue of $43.42 million for the quarter, compared to the consensus estimate of $35.73 million. Cipher Mining had a negative net margin of 20.32% and a negative return on equity of 6.78%. As a group, research analysts forecast that Cipher Mining will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of Cipher Mining

Institutional investors have recently modified their holdings of the company. Sloy Dahl & Holst LLC bought a new stake in shares of Cipher Mining in the 4th quarter valued at about $44,000. New York State Common Retirement Fund boosted its holdings in shares of Cipher Mining by 104.9% in the 3rd quarter. New York State Common Retirement Fund now owns 10,921 shares of the company's stock valued at $25,000 after buying an additional 5,592 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Cipher Mining in the 4th quarter valued at about $49,000. Bellecapital International Ltd. bought a new stake in shares of Cipher Mining in the 4th quarter valued at about $51,000. Finally, Calamos Advisors LLC acquired a new stake in Cipher Mining in the 4th quarter worth approximately $52,000. 12.26% of the stock is currently owned by institutional investors.

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.