Cipher Mining (NASDAQ:CIFR) Rating Lowered to Strong Sell at Wall Street Zen

Cipher Mining (NASDAQ:CIFR) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “strong sell” rating in a research note issued on Sunday.

A number of other equities research analysts have also issued reports on CIFR. Citigroup started coverage on Cipher Mining in a research note on Wednesday, November 19th. They issued an “outperform” rating on the stock. Needham & Company LLC reduced their price objective on Cipher Mining to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. BTIG Research reaffirmed a “buy” rating and set a $25.00 price objective on shares of Cipher Mining in a research note on Wednesday, November 5th. Citizens Jmp set a $30.00 target price on shares of Cipher Mining in a research note on Wednesday, November 19th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $27.00 price target on shares of Cipher Mining in a research note on Monday, December 15th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cipher Mining presently has a consensus rating of “Moderate Buy” and an average target price of $24.46.

Cipher Mining Stock Performance

Shares of CIFR opened at $15.76 on Friday. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 3.37. The stock has a market cap of $6.38 billion, a P/E ratio of -7.30 and a beta of 2.96. The company has a 50-day moving average of $16.45 and a two-hundred day moving average of $15.40. Cipher Mining has a 12-month low of $1.86 and a 12-month high of $25.52.

Insider Activity

In other Cipher Mining news, COO Patrick Arthur Kelly sold 35,568 shares of the stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $17.76, for a total transaction of $631,687.68. Following the transaction, the chief operating officer directly owned 1,512,644 shares in the company, valued at $26,864,557.44. This represents a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Wesley Hastie Williams sold 49,867 shares of Cipher Mining stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $16.08, for a total value of $801,861.36. Following the completion of the transaction, the director owned 158,145 shares of the company’s stock, valued at $2,542,971.60. This trade represents a 23.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 142,825 shares of company stock worth $2,319,720 over the last 90 days. Company insiders own 2.63% of the company’s stock.

Institutional Trading of Cipher Mining

Several institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its position in shares of Cipher Mining by 43.3% in the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock worth $39,000 after buying an additional 804 shares during the last quarter. Prospera Financial Services Inc raised its stake in Cipher Mining by 6.7% during the fourth quarter. Prospera Financial Services Inc now owns 15,600 shares of the company’s stock worth $230,000 after acquiring an additional 980 shares during the period. GAMMA Investing LLC boosted its stake in Cipher Mining by 218.3% in the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock valued at $28,000 after acquiring an additional 1,286 shares during the period. Arax Advisory Partners grew its holdings in shares of Cipher Mining by 274.2% during the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock valued at $27,000 after purchasing an additional 1,338 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Cipher Mining by 26.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the company’s stock worth $104,000 after purchasing an additional 1,468 shares during the period. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Company Profile

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.