Cipher Mining (NASDAQ:CIFR) Stock Price Up 8.5% – Still a Buy?

Shares of Cipher Mining Inc. (NASDAQ:CIFR) were up 8.5% during trading on Tuesday . The stock traded as high as $17.00 and last traded at $16.5110. Approximately 26,375,623 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 31,283,428 shares. The stock had previously closed at $15.22.

Wall Street Analyst Weigh In

A number of analysts recently commented on CIFR shares. Northland Securities set a $27.50 price objective on shares of Cipher Mining in a report on Tuesday, November 4th. Needham & Company LLC upped their price target on shares of Cipher Mining from $15.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Rosenblatt Securities upped their target price on Cipher Mining to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $12.00 to $18.00 in a research report on Monday, November 24th. Finally, BTIG Research restated a “buy” rating and issued a $25.00 price objective on shares of Cipher Mining in a research report on Wednesday, November 5th. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cipher Mining currently has an average rating of “Moderate Buy” and an average price target of $25.11.

Cipher Mining Stock Performance

The company’s fifty day moving average price is $16.36 and its two-hundred day moving average price is $15.00. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.49 and a current ratio of 2.49. The firm has a market capitalization of $6.79 billion, a PE ratio of -95.54 and a beta of 2.95.

Insider Transactions at Cipher Mining

In other Cipher Mining news, Director Holly Morrow Evans sold 15,000 shares of the stock in a transaction on 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 transaction, the director directly owned 195,512 shares of the company’s stock, valued at approximately $3,663,894.88. This trade represents a 7.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James E. Newsome sold 21,821 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $16.03, for a total value of $349,790.63. Following the completion of the sale, the director owned 172,492 shares of the company’s stock, valued at approximately $2,765,046.76. This trade represents a 11.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 182,825 shares of company stock valued at $3,075,820 over the last three months. 2.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Cipher Mining by 43.2% during the 4th quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock valued at $482,360,000 after acquiring an additional 9,865,533 shares in the last quarter. Situational Awareness LP lifted its position in Cipher Mining by 82.4% in the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock worth $154,524,000 after buying an additional 4,728,600 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Cipher Mining by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock valued at $120,519,000 after buying an additional 558,105 shares during the period. State Street Corp grew its holdings in shares of Cipher Mining by 10.2% during the 4th quarter. State Street Corp now owns 8,078,423 shares of the company’s stock valued at $119,238,000 after acquiring an additional 745,030 shares in the last quarter. Finally, Value Aligned Research Advisors LLC raised its holdings in shares of Cipher Mining by 45.9% during the fourth quarter. Value Aligned Research Advisors LLC now owns 7,447,495 shares of the company’s stock worth $109,925,000 after acquiring an additional 2,342,958 shares in the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

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.