Cipher Mining (NASDAQ:CIFR) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Cipher Mining (NASDAQ:CIFR) from a sell rating to a hold rating in a research note published on Friday morning.

CIFR has been the subject of several other research reports. BTIG Research reiterated a “buy” rating and issued a $25.00 price objective on shares of Cipher Mining in a research note on Wednesday, November 5th. Wells Fargo & Company set a $18.00 price target on shares of Cipher Mining in a research report on Monday, November 24th. JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $12.00 to $18.00 in a research report on Monday, November 24th. Northland Securities set a $27.50 price objective on Cipher Mining in a report on Tuesday, November 4th. Finally, Needham & Company LLC upped their target price on Cipher Mining from $15.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.73.

Cipher Mining Price Performance

Shares of NASDAQ CIFR opened at $17.57 on Friday. The business’s 50 day moving average is $16.98 and its 200-day moving average is $13.39. The firm has a market cap of $6.94 billion, a P/E ratio of -97.61 and a beta of 2.94. Cipher Mining has a 1-year low of $1.86 and a 1-year high of $25.52. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.31.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.07. The firm had revenue of $106.69 million for the quarter, compared to analysts’ expectations of $79.13 million. Cipher Mining had a negative return on equity of 9.57% and a negative net margin of 34.16%. Equities research analysts predict that Cipher Mining will post -0.31 earnings per share for the current year.

Insider Buying and Selling

In other Cipher Mining news, Director Cary M. Grossman sold 25,000 shares of Cipher Mining stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $19.00, for a total value of $475,000.00. Following the transaction, the director owned 200,530 shares in the company, valued at $3,810,070. The trade was a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Iwaschuk sold 173,094 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $22.52, for a total transaction of $3,898,076.88. Following the completion of the transaction, the insider directly owned 1,054,488 shares of the company’s stock, valued at $23,747,069.76. This trade represents a 14.10% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 444,117 shares of company stock worth $8,340,332. 2.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cipher Mining

A number of institutional investors have recently added to or reduced their stakes in CIFR. GAMMA Investing LLC boosted its position 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 buying an additional 1,286 shares in the last quarter. Nisa Investment Advisors LLC grew its position in 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 acquiring an additional 1,468 shares during the last quarter. DKM Wealth Management Inc. increased its holdings in Cipher Mining by 15.1% in the 4th quarter. DKM Wealth Management Inc. now owns 14,361 shares of the company’s stock worth $212,000 after purchasing an additional 1,886 shares in the last quarter. Sherman Asset Management Inc. bought a new position in Cipher Mining in the third quarter valued at about $25,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Cipher Mining by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 63,138 shares of the company’s stock valued at $795,000 after purchasing an additional 2,133 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

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.