Cipher Mining Inc. (NASDAQ:CIFR) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Cipher Mining Inc. (NASDAQ:CIFR) have been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $25.4333.

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cipher Mining in a research report on Monday, December 29th. JPMorgan Chase & Co. upgraded shares of Cipher Mining from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $12.00 to $18.00 in a research note on Monday, November 24th. HC Wainwright increased their target price on shares of Cipher Mining to $30.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Canaccord Genuity Group restated a “buy” rating and issued a $27.00 price target on shares of Cipher Mining in a research report on Monday, December 15th. Finally, JMP Securities set a $30.00 price objective on shares of Cipher Mining in a report on Wednesday, November 19th.

Cipher Mining Trading Down 1.1%

CIFR stock opened at $16.10 on Friday. Cipher Mining has a 1-year low of $1.86 and a 1-year high of $25.52. The firm has a market cap of $6.36 billion, a P/E ratio of -89.44 and a beta of 2.95. The business’s 50 day moving average is $16.72 and its 200-day moving average is $14.36. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.31.

Insider Activity

In other Cipher Mining news, Director Wesley Hastie Williams sold 49,867 shares of Cipher Mining stock in a transaction on Friday, December 19th. The stock was sold at an average price of $16.08, for a total value of $801,861.36. Following the completion of the transaction, the director owned 158,145 shares in the company, valued at approximately $2,542,971.60. The trade was a 23.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Patrick Arthur Kelly sold 35,568 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $17.76, for a total value of $631,687.68. Following the sale, the chief operating officer owned 1,512,644 shares in the company, valued at $26,864,557.44. The trade was a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 235,985 shares of company stock worth $3,830,692. 2.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cipher Mining

Large investors have recently modified their holdings of the stock. CWM LLC raised its position in Cipher Mining by 43.3% in the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock worth $39,000 after purchasing an additional 804 shares during the last quarter. Prospera Financial Services Inc increased its stake in shares of Cipher Mining by 6.7% in the 4th quarter. Prospera Financial Services Inc now owns 15,600 shares of the company’s stock valued at $230,000 after buying an additional 980 shares during the period. GAMMA Investing LLC raised its position in shares of Cipher Mining by 218.3% during the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after acquiring an additional 1,286 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Cipher Mining by 26.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the company’s stock valued at $104,000 after acquiring an additional 1,468 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Cipher Mining during the fourth quarter valued at $25,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Company Profile

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.