Cantor Fitzgerald Issues Pessimistic Forecast for Cipher Mining (NASDAQ:CIFR) Stock Price

Cipher Mining (NASDAQ:CIFR) had its price objective reduced by equities researchers at Cantor Fitzgerald from $24.00 to $22.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 38.71% from the stock’s current price.

Several other brokerages have also issued reports on CIFR. 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. Rosenblatt Securities reiterated a “buy” rating and set a $24.00 price objective on shares of Cipher Mining in a research report on Thursday, March 26th. Keefe, Bruyette & Woods decreased their price objective on Cipher Mining from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, March 11th. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Cipher Mining in a research report on Wednesday, March 25th. Finally, Zacks Research raised Cipher Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 25th. Fourteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.82.

Cipher Mining Price Performance

Shares of NASDAQ CIFR traded up $0.44 during mid-day trading on Thursday, reaching $15.86. 6,204,036 shares of the company were exchanged, compared to its average volume of 28,349,574. Cipher Mining has a 52 week low of $2.12 and a 52 week high of $25.52. The company’s 50 day moving average price is $14.95 and its 200 day moving average price is $16.46. The stock has a market capitalization of $6.43 billion, a PE ratio of -7.37 and a beta of 3.01. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 3.37.

Insider Buying and Selling

In other news, COO Patrick Arthur Kelly sold 35,568 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $14.98, for a total value of $532,808.64. Following the completion of the sale, the chief operating officer owned 1,441,508 shares of the company’s stock, valued at approximately $21,593,789.84. The trade was a 2.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Tyler Page sold 37,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $16.11, for a total value of $604,125.00. Following the transaction, the chief executive officer owned 8,263,862 shares in the company, valued at approximately $133,130,816.82. The trade was a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 183,797 shares of company stock worth $2,915,655 in the last ninety days. Corporate insiders own 2.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Creek Drive Management Group LLC bought a new stake in Cipher Mining during the 4th quarter valued at $460,000. Purpose Unlimited Inc. purchased a new position in shares of Cipher Mining in the fourth quarter valued at about $1,558,000. Corient Private Wealth LLC purchased a new position in shares of Cipher Mining in the fourth quarter valued at about $614,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Cipher Mining by 63.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 101,179 shares of the company’s stock valued at $1,493,000 after acquiring an additional 39,342 shares during the last quarter. Finally, Kera Capital Partners Inc. bought a new position in shares of Cipher Mining during the fourth quarter valued at about $196,000. 12.26% of the stock is owned by hedge funds and other institutional investors.

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.