Cipher Mining (NASDAQ:CIFR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cipher Mining (NASDAQ:CIFR) from a sell rating to a hold rating in a research report released on Friday.

A number of other research analysts also recently weighed in on CIFR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a research note on Monday, December 29th. Needham & Company LLC upped their target price on Cipher Mining from $15.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Citizens Jmp began coverage on Cipher Mining in a report on Wednesday, November 19th. They issued an “outperform” rating and a $30.00 target price on the stock. Wells Fargo & Company set a $18.00 price target on shares of Cipher Mining in a research note on Monday, November 24th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Cipher Mining in a research note on Wednesday, November 5th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cipher Mining presently has an average rating of “Moderate Buy” and a consensus price target of $24.73.

Cipher Mining Stock Up 1.0%

Shares of NASDAQ CIFR opened at $17.57 on Friday. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.31. The firm has a market cap of $6.94 billion, a PE ratio of -97.61 and a beta of 2.94. The company’s fifty day simple moving average is $16.98 and its 200 day simple moving average is $13.50. Cipher Mining has a 12-month low of $1.86 and a 12-month high of $25.52.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.07. The firm had revenue of $106.69 million for the quarter, compared to analyst estimates of $79.13 million. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. As a group, sell-side analysts forecast that Cipher Mining will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at Cipher Mining

In related news, COO Patrick Arthur Kelly sold 35,568 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $17.76, for a total transaction of $631,687.68. Following the transaction, the chief operating officer directly owned 1,512,644 shares in the company, valued at approximately $26,864,557.44. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Holly Morrow Evans sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $18.74, for a total transaction of $281,100.00. Following the completion of the sale, the director directly owned 195,512 shares of the company’s stock, valued at $3,663,894.88. The trade was a 7.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 444,117 shares of company stock worth $8,340,332. 2.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Sherman Asset Management Inc. bought a new position in Cipher Mining in the 3rd quarter worth about $25,000. GAMMA Investing LLC lifted its holdings in shares of Cipher Mining by 218.3% in the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after buying an additional 1,286 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of Cipher Mining in the third quarter valued at approximately $31,000. Peterson Wealth Services purchased a new position in Cipher Mining during the third quarter valued at approximately $41,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in Cipher Mining by 258.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock worth $43,000 after acquiring an additional 6,516 shares during the period. Hedge funds and other institutional investors own 12.26% of the company’s stock.

About Cipher Mining

Cipher Mining Inc is a Nasdaq-listed bitcoin mining company that develops, owns and operates large-scale mining facilities across the United States. The company focuses on deploying advanced ASIC hardware and securing long-term low-cost power contracts to optimize bitcoin production. By strategically locating its sites in regions with abundant energy supply, Cipher Mining seeks to maintain a competitive cost structure and deliver efficient hashrate capacity growth.

Founded in 2021 and headquartered in Austin, Texas, Cipher Mining has pursued an integrated approach encompassing site development, equipment procurement and operations management.