Cipher Mining (NASDAQ:CIFR) Shares Gap Up to $3.84

Cipher Mining Inc. (NASDAQ:CIFR)’s share price gapped up before the market opened on Monday . The stock had previously closed at $3.84, but opened at $4.03. Cipher Mining shares last traded at $4.17, with a volume of 2,868,371 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CIFR. Needham & Company LLC restated a “buy” rating and set a $5.00 price target on shares of Cipher Mining in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 price target on shares of Cipher Mining in a research note on Thursday, March 28th. Canaccord Genuity Group restated a “buy” rating and set a $5.50 price target on shares of Cipher Mining in a research note on Thursday, March 28th. Finally, HC Wainwright restated a “buy” rating and set a $4.50 price target on shares of Cipher Mining in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $5.25.

Cipher Mining Price Performance

The stock has a fifty day moving average of $3.87 and a two-hundred day moving average of $3.37. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -42.30 and a beta of 2.21. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.02.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $43.42 million for the quarter, compared to analyst estimates of $35.73 million. Cipher Mining had a negative return on equity of 6.78% and a negative net margin of 20.32%. On average, equities research analysts anticipate that Cipher Mining Inc. will post -0.15 earnings per share for the current year.

Institutional Trading of Cipher Mining

Several large investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. grew its holdings in Cipher Mining by 50.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock valued at $62,000 after purchasing an additional 5,000 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Cipher Mining by 104.9% in the third quarter. New York State Common Retirement Fund now owns 10,921 shares of the company’s stock valued at $25,000 after purchasing an additional 5,592 shares during the last quarter. Barclays PLC lifted its position in shares of Cipher Mining by 93.4% in the third quarter. Barclays PLC now owns 15,982 shares of the company’s stock valued at $37,000 after acquiring an additional 7,720 shares in the last quarter. Sloy Dahl & Holst LLC purchased a new stake in shares of Cipher Mining in the fourth quarter valued at $44,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Cipher Mining by 30.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 47,148 shares of the company’s stock valued at $185,000 after acquiring an additional 10,998 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

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.