Cipher Mining (NASDAQ:CIFR) Given New $10.00 Price Target at Cantor Fitzgerald

Cipher Mining (NASDAQ:CIFR) had its target price cut by Cantor Fitzgerald from $11.00 to $10.00 in a report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods initiated coverage on Cipher Mining in a research report on Wednesday, January 8th. They set an “outperform” rating for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price objective on shares of Cipher Mining in a research report on Friday, November 1st. JPMorgan Chase & Co. raised shares of Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 target price for the company in a research report on Tuesday, December 10th. BTIG Research raised their price target on shares of Cipher Mining from $6.00 to $9.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $7.50 price objective on shares of Cipher Mining in a research note on Friday, January 31st. Ten equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Cipher Mining presently has an average rating of “Buy” and a consensus target price of $8.14.

Cipher Mining Stock Up 3.2 %

CIFR stock opened at $5.89 on Tuesday. The company has a 50 day moving average of $5.64 and a two-hundred day moving average of $4.98. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. Cipher Mining has a 12-month low of $2.42 and a 12-month high of $7.99. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -45.30 and a beta of 2.40.

Institutional Investors Weigh In On Cipher Mining

A number of hedge funds have recently bought and sold shares of the company. Arizona State Retirement System lifted its position in shares of Cipher Mining by 15.0% during the 4th quarter. Arizona State Retirement System now owns 66,723 shares of the company’s stock worth $310,000 after purchasing an additional 8,698 shares during the last quarter. Victory Capital Management Inc. increased its position in Cipher Mining by 14.4% in the 4th quarter. Victory Capital Management Inc. now owns 29,747 shares of the company’s stock worth $138,000 after buying an additional 3,751 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cipher Mining by 33.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,139,553 shares of the company’s stock worth $14,568,000 after buying an additional 783,509 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Cipher Mining in the fourth quarter valued at approximately $123,000. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Cipher Mining in the fourth quarter worth $204,000. 12.26% of the stock is currently owned by 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.