Cipher Mining (NASDAQ:CIFR) Rating Reiterated by Cantor Fitzgerald

Cipher Mining (NASDAQ:CIFR)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a research report issued on Thursday, Benzinga reports. They currently have a $9.00 price objective on the stock. Cantor Fitzgerald’s price target points to a potential upside of 119.51% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Macquarie assumed coverage on shares of Cipher Mining in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $6.00 price objective for the company. HC Wainwright lifted their target price on shares of Cipher Mining from $5.50 to $6.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Needham & Company LLC lifted their target price on shares of Cipher Mining from $5.00 to $7.50 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Compass Point lifted their target price on shares of Cipher Mining from $7.50 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Northland Capmk raised shares of Cipher Mining to a “strong-buy” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Cipher Mining currently has a consensus rating of “Buy” and a consensus price target of $7.21.

Cipher Mining Stock Performance

NASDAQ:CIFR opened at $4.10 on Thursday. Cipher Mining has a 1 year low of $2.15 and a 1 year high of $7.99. The firm has a 50 day moving average of $3.72 and a 200-day moving average of $4.22. The company has a current ratio of 8.49, a quick ratio of 8.49 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.27 billion, a P/E ratio of 68.33 and a beta of 2.25.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). Cipher Mining had a net margin of 11.43% and a return on equity of 3.41%. The firm had revenue of $36.81 million during the quarter, compared to analysts’ expectations of $39.17 million. During the same quarter in the previous year, the company posted ($0.05) EPS. As a group, sell-side analysts anticipate that Cipher Mining will post -0.05 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Top Holdco B.V. Bitfury sold 609,644 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $6.23, for a total value of $3,798,082.12. Following the completion of the transaction, the insider now owns 109,911,187 shares of the company’s stock, valued at $684,746,695.01. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider William Iwaschuk sold 150,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total value of $591,000.00. Following the sale, the insider now directly owns 619,148 shares of the company’s stock, valued at approximately $2,439,443.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Top Holdco B.V. Bitfury sold 609,644 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $6.23, for a total transaction of $3,798,082.12. Following the completion of the sale, the insider now directly owns 109,911,187 shares in the company, valued at $684,746,695.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,462,980 shares of company stock valued at $20,795,679 in the last quarter. Company insiders own 2.25% of the company’s stock.

Institutional Investors Weigh In On Cipher Mining

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Cipher Mining by 62.0% in the 1st quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock valued at $29,134,000 after acquiring an additional 2,164,383 shares in the last quarter. Millennium Management LLC lifted its position in Cipher Mining by 122.8% during the 2nd quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock worth $22,123,000 after buying an additional 2,938,184 shares in the last quarter. Van ECK Associates Corp lifted its position in Cipher Mining by 0.8% during the 2nd quarter. Van ECK Associates Corp now owns 2,755,829 shares of the company’s stock worth $11,437,000 after buying an additional 22,086 shares in the last quarter. First Financial Bankshares Inc bought a new stake in Cipher Mining during the 4th quarter worth about $9,901,000. Finally, Vident Advisory LLC lifted its position in Cipher Mining by 94.9% during the 1st quarter. Vident Advisory LLC now owns 2,240,261 shares of the company’s stock worth $11,537,000 after buying an additional 1,090,811 shares in the last quarter. 12.26% of the stock is owned by institutional investors.

About Cipher Mining

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.