Cipher Mining Inc. (NASDAQ:CIFR) Given Consensus Rating of “Moderate Buy” by Analysts

Cipher Mining Inc. (NASDAQ:CIFR) has received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $5.25.

CIFR has been the subject of several research reports. HC Wainwright reissued a “buy” rating and issued a $4.50 price objective on shares of Cipher Mining in a research report on Tuesday, March 5th. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 target price on shares of Cipher Mining in a research report on Thursday, March 28th. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price target on shares of Cipher Mining in a research note on Monday, April 22nd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $5.50 target price on shares of Cipher Mining in a report on Thursday, March 28th.

Cipher Mining Price Performance

CIFR opened at $3.69 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.60 and a current ratio of 4.60. Cipher Mining has a 1 year low of $1.76 and a 1 year high of $5.75. The stock has a market capitalization of $1.09 billion, a PE ratio of -36.90 and a beta of 2.22. The company’s 50 day simple moving average is $3.96 and its 200 day simple moving average is $3.47.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Cipher Mining had a negative net margin of 20.32% and a negative return on equity of 6.78%. The firm had revenue of $43.42 million for the quarter, compared to analysts’ expectations of $35.73 million. As a group, sell-side analysts expect that Cipher Mining will post -0.15 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its position in shares of Cipher Mining by 107.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 693,097 shares of the company’s stock valued at $2,862,000 after buying an additional 358,897 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in shares of Cipher Mining during the fourth quarter worth about $49,000. Swiss National Bank bought a new position in Cipher Mining in the third quarter valued at $255,000. Van ECK Associates Corp boosted its stake in Cipher Mining by 22.3% in the third quarter. Van ECK Associates Corp now owns 1,403,549 shares of the company’s stock worth $3,270,000 after buying an additional 256,097 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Cipher Mining by 93.4% in the 3rd quarter. Barclays PLC now owns 15,982 shares of the company’s stock valued at $37,000 after purchasing an additional 7,720 shares in the last quarter. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Company Profile

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.