Cipher Mining (NASDAQ:CIFR) Earns Neutral Rating from Analysts at Rothschild & Co Redburn

Rothschild & Co Redburn assumed coverage on shares of Cipher Mining (NASDAQ:CIFR) in a report issued on Monday, Marketbeat.com reports. The firm issued a neutral rating and a $18.00 price target on the stock.

Other equities research analysts have also issued research reports about the company. Freedom Capital raised Cipher Mining to a “hold” rating in a research report on Friday, September 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Cipher Mining in a research report on Wednesday, June 24th. Sanford C. Bernstein started coverage on shares of Cipher Mining in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 price target on shares of Cipher Mining in a research note on Thursday, September 10th. Finally, Chardan Capital reissued a “buy” rating and issued a $32.00 price target on shares of Cipher Mining in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.86.

Cipher Mining Stock Performance

Shares of Cipher Mining stock opened at $18.35 on Monday. Cipher Mining has a one year low of $11.01 and a one year high of $30.14. The company has a market cap of $7.62 billion, a PE ratio of -6.42 and a beta of 3.15. The company has a debt-to-equity ratio of 9.69, a quick ratio of 3.00 and a current ratio of 3.00. The business has a 50-day simple moving average of $18.20 and a 200-day simple moving average of $19.26.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Tuesday, August 4th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.40). Cipher Mining had a negative net margin of 585.75% and a negative return on equity of 156.28%. The firm had revenue of $24.84 million during the quarter, compared to analyst estimates of $31.86 million. During the same period last year, the business earned ($0.12) EPS. On average, equities research analysts forecast that Cipher Mining will post -1.36 EPS for the current fiscal year.

Insider Activity at Cipher Mining

In other news, CEO Tyler Page sold 112,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $21.19, for a total transaction of $2,383,875.00. Following the completion of the sale, the chief executive officer owned 9,084,225 shares in the company, valued at $192,494,727.75. This represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cipher Mining

Several institutional investors have recently bought and sold shares of CIFR. WINTON GROUP Ltd purchased a new position in Cipher Mining during the 2nd quarter worth $2,113,000. Engineers Gate Manager LP purchased a new position in Cipher Mining during the second quarter worth about $1,587,000. NorthRock Partners LLC purchased a new position in Cipher Mining during the second quarter worth about $203,000. Integrated Wealth Concepts LLC acquired a new stake in Cipher Mining in the second quarter valued at about $99,000. Finally, Steamboat Capital Partners LLC purchased a new stake in Cipher Mining in the 2nd quarter valued at approximately $6,001,000. 12.26% of the stock is owned by institutional investors and hedge funds.

Cipher Mining Company Profile

Cipher Mining Inc is a United States-based bitcoin mining company that develops and operates data centers designed for large-scale cryptocurrency mining. Its operations use specialized computing equipment to process transactions on the Bitcoin network and earn bitcoin rewards, while the company also focuses on securing access to power and expanding its digital infrastructure.

The company has developed mining facilities in the United States, including sites in Texas, and has pursued additional infrastructure intended to support future growth.