Brokerages Set Cipher Mining Inc. (NASDAQ:CIFR) PT at $5.25

Cipher Mining Inc. (NASDAQ:CIFR) has received an average rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $5.25.

Several research firms have recently commented on CIFR. Needham & Company LLC restated a “buy” rating and set a $5.00 price target on shares of Cipher Mining in a report on Monday, April 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 price target on shares of Cipher Mining in a report on Thursday, March 28th. HC Wainwright restated a “buy” rating and set a $4.50 price target 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 target on shares of Cipher Mining in a report on Thursday, March 28th.

Cipher Mining Trading Down 10.2 %

NASDAQ CIFR opened at $4.04 on Friday. Cipher Mining has a twelve month low of $1.76 and a twelve month high of $5.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.60 and a current ratio of 4.60. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -40.40 and a beta of 2.21. The firm’s 50 day moving average price is $3.94 and its two-hundred day moving average price is $3.46.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.05 EPS for the quarter, beating 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 business had revenue of $43.42 million for the quarter, compared to analysts’ expectations of $35.73 million. Equities analysts anticipate that Cipher Mining will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Cipher Mining

Institutional investors and hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund lifted its stake 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 purchasing an additional 5,592 shares during the last quarter. Arizona State Retirement System acquired a new position in Cipher Mining during the 3rd quarter worth $33,000. Barclays PLC lifted its position in Cipher Mining by 93.4% during the 3rd quarter. Barclays PLC now owns 15,982 shares of the company’s stock worth $37,000 after acquiring an additional 7,720 shares during the last quarter. Sloy Dahl & Holst LLC acquired a new position in Cipher Mining during the 4th quarter worth $44,000. Finally, Wolverine Asset Management LLC acquired a new position in Cipher Mining during the 4th quarter worth $49,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

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.