Cipher Mining (NASDAQ:CIFR) Shares Gap Down - What's Next?

Key Points

• Cipher Mining shares opened sharply lower, falling from a previous close of $7.11 to $6.57 before later trading at $6.767.
• Several analysts cut price targets, including Jefferies to $10 and Wells Fargo and Cantor Fitzgerald to $15. Despite the reductions, the consensus rating remains “Moderate Buy,” with an average target of $21.38.
• The company reported a smaller-than-expected quarterly loss but missed revenue estimates, with revenue down 62.8% year over year. Separately, Cipher says its high-performance computing pipeline has expanded to 5.9 gigawatts, though converting it into projects remains a key opportunity.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report)'s share price gapped down before the market opened on Thursday. The stock had previously closed at $7.11, but opened at $6.57. Cipher Mining shares last traded at $6.7670, with a volume of 6,834,064 shares traded.

Key Stories Impacting Cipher Mining

These are some of the CIFR stories that stood out recently:

• Positive Sentiment: Cipher is expanding its high-performance computing pipeline to 5.9 gigawatts, with hyperscaler agreements and on-site power capabilities. If it converts that pipeline into projects, it could benefit from rising AI infrastructure demand. Cipher Digital Eyes 5.9 GW Pipeline: Can It Unlock Growth?
• Neutral Sentiment: Analyst estimate changes were mixed: Northland raised its FY2026 loss estimate, while HC Wainwright also improved its FY2026 forecast but cut its FY2027 estimate, projecting a $0.26-per-share loss instead of $0.12. HC Wainwright retained its Buy rating. Cipher Mining analyst estimate updates
• Negative Sentiment: Jefferies lowered its price target to $10 from $12, though it kept a Buy rating. Separate reports described pessimistic forecasts from Jefferies and Morgan Stanley, adding to concerns about near-term expectations. Jefferies Financial Group Issues Pessimistic Forecast for Cipher Mining Morgan Stanley Issues Pessimistic Forecast for Cipher Mining

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CIFR shares. Wells Fargo & Company dropped their price target on Cipher Mining from $25.00 to $15.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 3rd. Morgan Stanley reduced their price objective on shares of Cipher Mining to $27.50 and set an "overweight" rating for the company in a research note on Monday. Rothschild & Co Redburn started coverage on shares of Cipher Mining in a report on Monday, September 21st. They issued a "neutral" rating and a $18.00 target price for the company. Cantor Fitzgerald dropped their target price on shares of Cipher Mining from $19.00 to $15.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 3rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Cipher Mining from $22.00 to $18.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 3rd. Fifteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $21.38.

Cipher Mining Trading Up 1.4%

The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 9.10. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of -2.34 and a beta of 3.53. The company has a 50-day moving average price of $12.74 and a 200 day moving average price of $17.31.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.03. The firm had revenue of $26.70 million for the quarter, compared to analyst estimates of $39.31 million. Cipher Mining had a negative return on equity of 161.74% and a negative net margin of 742.33%. Cipher Mining's quarterly revenue was down 62.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. As a group, research analysts anticipate that Cipher Mining Inc. will post -0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cipher Mining

A number of large investors have recently made changes to their positions in the business. CoreCap Advisors LLC grew its position in Cipher Mining by 41.7% during the second quarter. CoreCap Advisors LLC now owns 1,700 shares of the company's stock valued at $42,000 after purchasing an additional 500 shares in the last quarter. Rathbones Group PLC increased its stake in Cipher Mining by 7.0% in the 1st quarter. Rathbones Group PLC now owns 11,495 shares of the company's stock valued at $148,000 after buying an additional 750 shares during the period. DKM Wealth Management Inc. lifted its position in Cipher Mining by 5.8% in the 3rd quarter. DKM Wealth Management Inc. now owns 14,152 shares of the company's stock worth $224,000 after buying an additional 771 shares in the last quarter. Navellier & Associates Inc. lifted its position in Cipher Mining by 3.7% in the 2nd quarter. Navellier & Associates Inc. now owns 25,230 shares of the company's stock worth $618,000 after buying an additional 901 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Cipher Mining by 43.1% during the 3rd quarter. GAMMA Investing LLC now owns 4,092 shares of the company's stock valued at $65,000 after buying an additional 1,233 shares during the period. Institutional investors and hedge funds own 12.26% of the company's stock.

About Cipher Mining

Cipher Mining Inc. is a U.S.-based bitcoin mining company that develops and operates data centers designed to support large-scale mining operations. Its facilities house specialized computing equipment that helps process transactions and secure the Bitcoin network. The company's operations and development activities are concentrated in the United States, including sites in Texas. Its work includes building and managing mining infrastructure and sourcing the energy and equipment needed to run its facilities.

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