Cipher Mining Inc. (NASDAQ:CIFR) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Cipher Mining Inc. (NASDAQ:CIFR) have been given an average rating of “Moderate Buy” by the fifteen analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $23.7727.

A number of brokerages recently weighed in on CIFR. Compass Point began coverage on shares of Cipher Mining in a research report on Monday, September 15th. They issued a “buy” rating on the stock. Jones Trading began coverage on shares of Cipher Mining in a research report on Monday, July 21st. They issued a “hold” rating on the stock. Northland Securities set a $27.50 price target on shares of Cipher Mining in a research report on Tuesday. Arete started coverage on Cipher Mining in a research note on Wednesday, September 24th. They set a “buy” rating and a $24.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Cipher Mining in a research note on Tuesday, October 14th.

Cipher Mining Stock Performance

Shares of NASDAQ:CIFR opened at $22.51 on Wednesday. The company has a market capitalization of $8.85 billion, a price-to-earnings ratio of -125.06 and a beta of 2.91. The firm’s 50 day simple moving average is $14.35 and its 200 day simple moving average is $7.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.18 and a quick ratio of 4.18. Cipher Mining has a fifty-two week low of $1.86 and a fifty-two week high of $25.11.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. The business had revenue of $71.71 million for the quarter, compared to the consensus estimate of $79.13 million. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.77%. As a group, sell-side analysts forecast that Cipher Mining will post -0.31 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Holding Ltd V3 sold 535,843 shares of the stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $20.32, for a total transaction of $10,888,329.76. Following the completion of the sale, the insider directly owned 61,316,694 shares of the company’s stock, valued at approximately $1,245,955,222.08. This represents a 0.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Patrick Arthur Kelly sold 26,581 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $21.08, for a total value of $560,327.48. Following the sale, the chief operating officer directly owned 1,213,919 shares of the company’s stock, valued at approximately $25,589,412.52. The trade was a 2.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 20,649,355 shares of company stock valued at $276,031,364. 2.63% of the stock is owned by company insiders.

Institutional Trading of Cipher Mining

A number of large investors have recently bought and sold shares of CIFR. Helix Partners Management LP grew its stake in shares of Cipher Mining by 95.8% during the 1st quarter. Helix Partners Management LP now owns 4,400,000 shares of the company’s stock worth $10,120,000 after acquiring an additional 2,153,058 shares in the last quarter. Greenleaf Trust bought a new position in shares of Cipher Mining during the 2nd quarter worth approximately $108,000. Impact Partnership Wealth LLC bought a new position in shares of Cipher Mining during the 1st quarter worth approximately $109,000. SRN Advisors LLC grew its stake in shares of Cipher Mining by 42.1% during the 1st quarter. SRN Advisors LLC now owns 284,148 shares of the company’s stock worth $654,000 after acquiring an additional 84,148 shares in the last quarter. Finally, Anthracite Investment Company Inc. bought a new position in shares of Cipher Mining during the 2nd quarter worth approximately $163,000. 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.