Cipher Mining (NASDAQ:CIFR) Shares Gap Up to $4.14

Cipher Mining Inc. (NASDAQ:CIFR)’s share price gapped up prior to trading on Monday . The stock had previously closed at $4.14, but opened at $4.30. Cipher Mining shares last traded at $4.34, with a volume of 1,190,097 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $5.00 target price on shares of Cipher Mining in a research report on Monday, April 22nd. HC Wainwright restated a “buy” rating and set a $4.50 target price on shares of Cipher Mining in a research report on Tuesday, March 5th. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 target price on shares of Cipher Mining in a research report on Thursday, March 28th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $5.50 target price on shares of Cipher Mining in a research report on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.25.

Cipher Mining Stock Up 8.0 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.60 and a current ratio of 4.60. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -44.70 and a beta of 2.32. The firm has a fifty day moving average price of $4.00 and a 200 day moving average price of $3.49.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results 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. Cipher Mining had a negative net margin of 20.32% and a negative return on equity of 6.78%. The business had revenue of $43.42 million for the quarter, compared to analysts’ expectations of $35.73 million. As a group, sell-side analysts expect that Cipher Mining Inc. will post -0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Cipher Mining

Several institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in Cipher Mining during the first quarter worth about $52,000. Sloy Dahl & Holst LLC purchased a new stake in Cipher Mining in the 4th quarter valued at approximately $44,000. New York State Common Retirement Fund grew its holdings in Cipher Mining by 104.9% during the 3rd quarter. New York State Common Retirement Fund now owns 10,921 shares of the company’s stock valued at $25,000 after buying an additional 5,592 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in Cipher Mining during the 4th quarter valued at $49,000. Finally, Bellecapital International Ltd. purchased a new position in Cipher Mining during the fourth quarter worth $51,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Cipher Mining Company Profile

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.