Recent Analysts’ Ratings Changes for Cipher Mining (CIFR)

Cipher Mining (NASDAQ: CIFR) has recently received a number of price target changes and ratings updates:

• 5/17/2024 – Cipher Mining had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $5.00 price target on the stock.
• 5/8/2024 – Cipher Mining had its “buy” rating reaffirmed by analysts at Canaccord Genuity Group Inc.. They now have a $6.00 price target on the stock, up previously from $5.50.
• 5/8/2024 – Cipher Mining had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $5.00 price target on the stock.
• 5/7/2024 – Cipher Mining had its price target raised by analysts at HC Wainwright from $4.50 to $5.50. They now have a “buy” rating on the stock.
• 4/22/2024 – Cipher Mining had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $5.00 price target on the stock.
• 3/28/2024 – Cipher Mining had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $5.00 price target on the stock.
• 3/28/2024 – Cipher Mining had its “buy” rating reaffirmed by analysts at Canaccord Genuity Group Inc.. They now have a $5.50 price target on the stock.

Cipher Mining Price Performance

NASDAQ:CIFR opened at $4.13 on Thursday. Cipher Mining Inc. has a 12-month low of $2.15 and a 12-month high of $5.75. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 68.84 and a beta of 2.32. The stock’s 50 day moving average price is $4.18 and its two-hundred day moving average price is $3.55. The company has a quick ratio of 8.08, a current ratio of 8.08 and a debt-to-equity ratio of 0.02.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Cipher Mining had a return on equity of 4.66% and a net margin of 13.54%. The business had revenue of $43.42 million for the quarter, compared to analysts’ expectations of $35.73 million. On average, analysts anticipate that Cipher Mining Inc. will post -0.01 earnings per share for the current year.

Institutional Trading of Cipher Mining

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

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.