Cipher Mining (NASDAQ:CIFR) Earns Outperform Rating from Analysts at Macquarie

Macquarie started coverage on shares of Cipher Mining (NASDAQ:CIFR) in a report published on Tuesday, MarketBeat Ratings reports. The firm issued an outperform rating and a $6.00 price target on the stock.

Several other research analysts have also commented on CIFR. Needham & Company LLC upped their price objective on shares of Cipher Mining from $5.00 to $7.50 and gave the stock a buy rating in a report on Wednesday, August 14th. Canaccord Genuity Group restated a buy rating and issued a $7.00 price objective on shares of Cipher Mining in a report on Thursday, August 29th. Stifel Canada upgraded shares of Cipher Mining to a strong-buy rating in a report on Tuesday, August 6th. Cantor Fitzgerald restated an overweight rating and issued a $9.00 price objective on shares of Cipher Mining in a report on Tuesday, September 3rd. Finally, HC Wainwright upped their price objective on shares of Cipher Mining from $5.50 to $6.00 and gave the stock a buy rating in a report on Thursday, June 6th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $7.21.

Cipher Mining Trading Down 0.7 %

NASDAQ:CIFR opened at $4.11 on Tuesday. The company has a fifty day moving average of $3.97 and a 200 day moving average of $4.20. Cipher Mining has a 52 week low of $2.15 and a 52 week high of $7.99. The company has a quick ratio of 8.49, a current ratio of 8.49 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.27 billion, a P/E ratio of 68.50 and a beta of 2.24.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Cipher Mining had a net margin of 11.43% and a return on equity of 3.41%. The business had revenue of $36.81 million during the quarter, compared to analyst estimates of $39.17 million. During the same period in the prior year, the business earned ($0.05) EPS. On average, research analysts predict that Cipher Mining will post -0.05 earnings per share for the current year.

Insider Transactions at Cipher Mining

In other news, insider William Iwaschuk sold 150,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total value of $591,000.00. Following the sale, the insider now directly owns 619,148 shares of the company’s stock, valued at approximately $2,439,443.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider William Iwaschuk sold 150,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total transaction of $591,000.00. Following the sale, the insider now directly owns 619,148 shares of the company’s stock, valued at approximately $2,439,443.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total transaction of $5,741,358.24. Following the sale, the insider now directly owns 107,748,228 shares in the company, valued at $325,399,648.56. The disclosure for this sale can be found here. Insiders have sold 6,462,980 shares of company stock valued at $20,795,679 in the last three months. 2.25% of the stock is currently owned by company insiders.

Institutional Trading of Cipher Mining

Several institutional investors have recently bought and sold shares of CIFR. Hel Ved Capital Management Ltd purchased a new stake in Cipher Mining during the 4th quarter valued at about $1,310,000. First Financial Bankshares Inc purchased a new stake in Cipher Mining during the 4th quarter valued at about $9,901,000. Shariaportfolio Inc. purchased a new stake in shares of Cipher Mining during the 4th quarter valued at about $2,460,000. Cantor Fitzgerald L. P. bought a new stake in shares of Cipher Mining in the fourth quarter worth approximately $747,000. Finally, Virtu Financial LLC bought a new stake in shares of Cipher Mining in the fourth quarter worth approximately $202,000. 12.26% of the stock is owned by hedge funds and other institutional investors.

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.