Cipher Mining’s (CIFR) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cipher Mining (NASDAQ:CIFR)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $5.00 price target on the stock. Cantor Fitzgerald’s target price suggests a potential downside of 4.03% from the company’s previous close.

A number of other equities analysts also recently weighed in on CIFR. Needham & Company LLC reissued a “buy” rating and set a $5.00 price target on shares of Cipher Mining in a research report on Monday, March 18th. HC Wainwright restated a “buy” rating and set a $4.50 price target on shares of Cipher Mining in a report on Tuesday, March 5th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $5.50 price objective on shares of Cipher Mining in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $5.25.

Cipher Mining Stock Down 2.3 %

Shares of NASDAQ:CIFR traded down $0.12 during midday trading on Thursday, reaching $5.21. 8,517,787 shares of the company were exchanged, compared to its average volume of 9,360,140. The stock has a fifty day simple moving average of $3.39 and a two-hundred day simple moving average of $3.18. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.54 billion, a PE ratio of -52.29 and a beta of 2.06. Cipher Mining has a fifty-two week low of $1.76 and a fifty-two week high of $5.75.

Hedge Funds Weigh In On Cipher Mining

Institutional investors have recently modified their holdings of the business. First Financial Bankshares Inc purchased a new stake in shares of Cipher Mining during the fourth quarter worth $9,901,000. State Street Corp grew its stake in Cipher Mining by 208.0% in the second quarter. State Street Corp now owns 2,197,387 shares of the company’s stock worth $6,285,000 after purchasing an additional 1,483,836 shares during the period. Vanguard Group Inc. raised its holdings in Cipher Mining by 103.8% in the first quarter. Vanguard Group Inc. now owns 1,893,078 shares of the company’s stock worth $6,891,000 after purchasing an additional 964,326 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Cipher Mining by 221.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 968,670 shares of the company’s stock valued at $2,770,000 after buying an additional 667,152 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Cipher Mining by 1,738.2% during the 4th quarter. Renaissance Technologies LLC now owns 645,200 shares of the company’s stock valued at $361,000 after buying an additional 610,100 shares in the last quarter. 12.26% of the stock is owned by institutional investors.

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.