Cipher Mining (NASDAQ:CIFR) PT Raised to $5.50 at HC Wainwright

Cipher Mining (NASDAQ:CIFR) had its price target increased by analysts at HC Wainwright from $4.50 to $5.50 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 45.70% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. 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. 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. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $5.50 price target on shares of Cipher Mining in a research note on Thursday, March 28th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $5.50.

Cipher Mining Price Performance

Cipher Mining stock opened at $3.78 on Tuesday. The firm has a market cap of $1.12 billion, a P/E ratio of -37.75 and a beta of 2.32. The stock’s 50 day moving average is $4.03 and its 200 day moving average is $3.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.60 and a quick ratio of 4.60. Cipher Mining has a one year low of $1.76 and a one year high of $5.75.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. Cipher Mining had a negative return on equity of 6.78% and a negative net margin of 20.32%. The firm had revenue of $43.42 million during the quarter, compared to analyst estimates of $35.73 million. As a group, research analysts expect that Cipher Mining will post -0.15 EPS for the current year.

Institutional Trading of Cipher Mining

A number of institutional investors have recently modified their holdings of CIFR. Arizona State Retirement System purchased a new stake in shares of Cipher Mining during the 3rd quarter valued at approximately $33,000. Jump Financial LLC bought a new stake in Cipher Mining during the 3rd quarter worth approximately $244,000. Barclays PLC increased its holdings 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 period. New York State Common Retirement Fund increased its holdings in Cipher Mining by 104.9% during the 3rd 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 during the period. Finally, Swiss National Bank bought a new stake in Cipher Mining during the 3rd quarter worth approximately $255,000. 12.26% of the stock is currently owned by hedge funds and other 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.