Cipher Mining (NASDAQ:CIFR) Shares Gap Down to $4.64

Cipher Mining Inc. (NASDAQ:CIFR) gapped down before the market opened on Thursday . The stock had previously closed at $4.64, but opened at $4.32. Cipher Mining shares last traded at $4.30, with a volume of 1,706,163 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of Cipher Mining in a report on Monday, April 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 price objective on shares of Cipher Mining in a report on Thursday, March 28th. HC Wainwright restated a “buy” rating and set a $4.50 price objective on shares of Cipher Mining in a report on Tuesday, March 5th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $5.50 price objective on shares of Cipher Mining in a report on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.25.

Cipher Mining Stock Up 1.6 %

The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average price is $3.94 and its two-hundred day moving average price is $3.43.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $43.42 million for the quarter, compared to analyst estimates 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, equities research analysts predict that Cipher Mining Inc. will post -0.15 EPS for the current fiscal year.

Institutional Trading of Cipher Mining

A number of institutional investors have recently made changes to their positions in CIFR. Arizona State Retirement System bought a new stake in shares of Cipher Mining in the third quarter worth $33,000. Jump Financial LLC bought a new stake in shares of Cipher Mining in the third quarter worth $244,000. Barclays PLC raised its position in 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 acquiring an additional 7,720 shares in the last quarter. New York State Common Retirement Fund raised its position in 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 acquiring an additional 5,592 shares in the last quarter. Finally, Swiss National Bank bought a new stake in Cipher Mining during the third quarter worth $255,000. Institutional investors 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.