Cipher Mining (NASDAQ:CIFR) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Cipher Mining (NASDAQ:CIFR) in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a $6.00 price target on the stock.

A number of other brokerages have also issued reports on CIFR. Needham & Company LLC reaffirmed a buy rating and set a $5.00 price objective on shares of Cipher Mining in a report on Wednesday, August 9th. BTIG Research assumed coverage on shares of Cipher Mining in a report on Friday, September 15th. They set a buy rating and a $6.00 price objective for the company. HC Wainwright increased their target price on Cipher Mining from $3.00 to $4.50 and gave the company a buy rating in a research report on Wednesday, August 9th. Canaccord Genuity Group increased their target price on Cipher Mining from $4.50 to $5.50 and gave the company a buy rating in a research report on Thursday, November 9th. Finally, JPMorgan Chase & Co. assumed coverage on Cipher Mining in a research report on Wednesday, October 11th. They set a neutral rating for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Cipher Mining currently has an average rating of Moderate Buy and an average target price of $5.42.

Cipher Mining Trading Up 0.6 %

Cipher Mining stock opened at $2.49 on Monday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.04. Cipher Mining has a 12-month low of $0.38 and a 12-month high of $5.30. The firm has a 50 day moving average of $2.85 and a 200 day moving average of $3.01. The firm has a market capitalization of $634.10 million, a price-to-earnings ratio of -6.92 and a beta of 2.34.

Insider Buying and Selling

In related news, major shareholder Top Holdco B.V. Bitfury sold 10,000,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $2.95, for a total value of $29,500,000.00. Following the completion of the sale, the insider now directly owns 191,931,387 shares in the company, valued at $566,197,591.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.76% of the stock is owned by corporate insiders.

Institutional Trading of Cipher Mining

A number of institutional investors have recently bought and sold shares of CIFR. Rhumbline Advisers lifted its position in shares of Cipher Mining by 5.4% during the third quarter. Rhumbline Advisers now owns 64,313 shares of the company’s stock worth $150,000 after purchasing an additional 3,313 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Cipher Mining by 104.9% during the third quarter. New York State Common Retirement Fund now owns 10,921 shares of the company’s stock worth $25,000 after purchasing an additional 5,592 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Cipher Mining by 32.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 26,750 shares of the company’s stock worth $97,000 after purchasing an additional 6,500 shares during the last quarter. UBS Group AG lifted its position in shares of Cipher Mining by 17.2% during the third quarter. UBS Group AG now owns 49,217 shares of the company’s stock worth $115,000 after purchasing an additional 7,214 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Cipher Mining by 24.5% during the second quarter. JPMorgan Chase & Co. now owns 37,312 shares of the company’s stock worth $107,000 after purchasing an additional 7,343 shares during the last quarter. 6.70% of the stock is currently owned by institutional investors.

About Cipher Mining

Cipher Mining Inc, a technology company, develops and operates 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 is a subsidiary of Bitfury Holding B.V.