Cipher Mining (NASDAQ:CIFR) Stock Rating Lowered by Keefe, Bruyette & Woods

Cipher Mining (NASDAQ:CIFR) was downgraded by analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, Briefing.com reports. They currently have a $9.50 price target on the stock. Keefe, Bruyette & Woods‘s target price would suggest a potential upside of 17.00% from the stock’s current price.

Other analysts have also issued reports about the stock. Wells Fargo & Company cut their target price on shares of Cipher Mining from $25.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday. Rothschild & Co Redburn initiated coverage on shares of Cipher Mining in a report on Monday, September 21st. They set a “neutral” rating and a $18.00 target price for the company. Needham & Company LLC decreased their price target on shares of Cipher Mining from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday. Cantor Fitzgerald dropped their price target on Cipher Mining from $19.00 to $15.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Cipher Mining in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.81.

Cipher Mining Price Performance

Shares of NASDAQ CIFR opened at $8.12 on Wednesday. Cipher Mining has a twelve month low of $6.62 and a twelve month high of $30.14. The company has a debt-to-equity ratio of 9.69, a current ratio of 3.00 and a quick ratio of 3.00. The firm has a 50-day moving average of $13.85 and a two-hundred day moving average of $17.65.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Monday, November 2nd. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.03. The company had revenue of $26.70 million during the quarter, compared to analyst estimates of $39.31 million. Cipher Mining had a negative net margin of 742.33% and a negative return on equity of 156.28%. The business’s revenue for the quarter was down 62.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. As a group, research analysts expect that Cipher Mining will post -1.36 EPS for the current fiscal year.

Institutional Trading of Cipher Mining

A number of hedge funds have recently bought and sold shares of the company. CoreCap Advisors LLC boosted its holdings in shares of Cipher Mining by 41.7% in the second quarter. CoreCap Advisors LLC now owns 1,700 shares of the company’s stock worth $42,000 after buying an additional 500 shares during the period. Abel Hall LLC increased its position in shares of Cipher Mining by 3.8% in the first quarter. Abel Hall LLC now owns 20,140 shares of the company’s stock worth $259,000 after acquiring an additional 739 shares in the last quarter. Rathbones Group PLC increased its position in shares of Cipher Mining by 7.0% in the first quarter. Rathbones Group PLC now owns 11,495 shares of the company’s stock worth $148,000 after acquiring an additional 750 shares in the last quarter. DKM Wealth Management Inc. raised its holdings in shares of Cipher Mining by 5.8% during the third quarter. DKM Wealth Management Inc. now owns 14,152 shares of the company’s stock valued at $224,000 after acquiring an additional 771 shares during the period. Finally, Navellier & Associates Inc. raised its holdings in shares of Cipher Mining by 3.7% during the second quarter. Navellier & Associates Inc. now owns 25,230 shares of the company’s stock valued at $618,000 after acquiring an additional 901 shares during the period. 12.26% of the stock is owned by hedge funds and other institutional investors.

Cipher Mining News Roundup

Here are the key news stories impacting Cipher Mining this week:

• Positive Sentiment: JPMorgan called CIFR “substantially undervalued” and kept an Overweight rating, even as it reduced its price target to $18 from $22. JPMorgan calls CIFR stock substantially undervalued
• Positive Sentiment: The stock participated in a rebound among former bitcoin miners developing AI data centers. Cipher’s growth case includes $16.6 billion in contracted HPC revenue, improved Barber Lake lease economics and a 5.9-gigawatt development pipeline. Q3 earnings call highlights growth plans and cost pressures
• Positive Sentiment: Quarterly loss per share of $0.22 was narrower than analysts’ consensus estimate of $0.25, providing a modest earnings bright spot. Cipher Mining quarterly results
• Neutral Sentiment: Investors bought 205,000 CIFR call options, 47% above the average volume. The activity may indicate increased bullish positioning, but options trading alone does not establish a direction for the shares.
• Negative Sentiment: Revenue of $26.7 million missed the $39.31 million consensus and fell 62.8% year over year. Bitcoin-mining revenue dropped sharply, while early HPC rent has yet to replace the lost mining income. CIFR stock drops after Q3 revenue miss
• Negative Sentiment: Several analysts cut price targets, including Needham ($25 to $15), Rosenblatt ($30 to $19) and Cantor Fitzgerald ($19 to $15), though they retained Buy or Overweight ratings. Reports also highlighted substantial borrowing and quarterly interest expense, which could weigh on results as data-center facilities ramp up. Cipher Digital profit is a warrant gain

About Cipher Mining

Cipher Mining Inc (NASDAQ: CIFR) is a bitcoin mining company that develops and operates large-scale data center infrastructure in the United States. The company uses specialized application-specific integrated circuit (ASIC) computers to validate transactions on the Bitcoin network and earn bitcoin rewards.

Cipher focuses on securing access to cost-effective power, building and managing mining facilities, and deploying high-performance computing equipment. Its operations are supported by power infrastructure, cooling systems, networking equipment and other data center technologies required for energy-intensive digital asset mining.

The company was formed through the combination of Cipher Mining Technologies Inc and Good Works Acquisition Corp.