Cipher Mining Inc. (NASDAQ:CIFR) Receives $24.54 Consensus Target Price from Brokerages

Shares of Cipher Mining Inc. (NASDAQ:CIFR) have received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $24.5357.

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of Cipher Mining from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Macquarie Infrastructure boosted their price target on shares of Cipher Mining from $16.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Citizens Jmp started coverage on shares of Cipher Mining in a research note on Wednesday, November 19th. They issued an “outperform” rating and a $30.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cipher Mining in a report on Monday, December 29th. Finally, Rosenblatt Securities boosted their target price on Cipher Mining to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th.

Insiders Place Their Bets

In other news, Director Wesley Hastie Williams sold 49,867 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $16.08, for a total transaction of $801,861.36. Following the transaction, the director owned 158,145 shares in the company, valued at $2,542,971.60. This represents a 23.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Holly Morrow Evans sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $18.74, for a total transaction of $281,100.00. Following the transaction, the director owned 195,512 shares in the company, valued at $3,663,894.88. This represents a 7.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 271,023 shares of company stock worth $4,442,255 in the last quarter. Corporate insiders own 2.63% of the company’s stock.

Institutional Investors Weigh In On Cipher Mining

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of Cipher Mining by 218.3% in the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after buying an additional 1,286 shares during the last quarter. Sherman Asset Management Inc. acquired a new position in shares of Cipher Mining during the 3rd quarter valued at about $25,000. Hollencrest Capital Management bought a new position in shares of Cipher Mining in the 3rd quarter valued at approximately $31,000. Danske Bank A S raised its stake in shares of Cipher Mining by 1,150.0% in the 4th quarter. Danske Bank A S now owns 2,500 shares of the company’s stock valued at $37,000 after acquiring an additional 2,300 shares in the last quarter. Finally, CWM LLC boosted its position in Cipher Mining by 43.3% during the fourth quarter. CWM LLC now owns 2,661 shares of the company’s stock worth $39,000 after purchasing an additional 804 shares during the period. 12.26% of the stock is currently owned by institutional investors.

Cipher Mining Price Performance

Shares of CIFR opened at $14.73 on Friday. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of -81.83 and a beta of 2.95. Cipher Mining has a fifty-two week low of $1.86 and a fifty-two week high of $25.52. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.49 and a quick ratio of 2.49. The business’s 50-day moving average is $16.91 and its 200-day moving average is $14.19.

About Cipher Mining

Cipher Mining Inc is a Nasdaq-listed bitcoin mining company that develops, owns and operates large-scale mining facilities across the United States. The company focuses on deploying advanced ASIC hardware and securing long-term low-cost power contracts to optimize bitcoin production. By strategically locating its sites in regions with abundant energy supply, Cipher Mining seeks to maintain a competitive cost structure and deliver efficient hashrate capacity growth.

Founded in 2021 and headquartered in Austin, Texas, Cipher Mining has pursued an integrated approach encompassing site development, equipment procurement and operations management.