Cipher Mining (NASDAQ:CIFR) Price Target Cut to $22.00 by Analysts at Cantor Fitzgerald

Cipher Mining (NASDAQ:CIFR) had its target price lowered by stock analysts at Cantor Fitzgerald from $24.00 to $22.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 38.71% from the stock’s current price.

A number of other equities analysts also recently commented on CIFR. HC Wainwright decreased their target price on Cipher Mining to $25.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Zacks Research raised shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 25th. Wall Street Zen lowered shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a report on Sunday, March 1st. Keefe, Bruyette & Woods dropped their target price on shares of Cipher Mining from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, March 11th. Finally, Morgan Stanley initiated coverage on shares of Cipher Mining in a research note on Monday, February 9th. They set an “overweight” rating and a $38.00 target price on the stock. Fourteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Cipher Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.82.

Cipher Mining Trading Up 2.9%

Shares of CIFR stock traded up $0.44 during trading hours on Thursday, reaching $15.86. The company’s stock had a trading volume of 6,204,036 shares, compared to its average volume of 28,349,574. The stock has a market capitalization of $6.43 billion, a P/E ratio of -7.37 and a beta of 3.01. Cipher Mining has a one year low of $2.12 and a one year high of $25.52. The firm’s fifty day simple moving average is $14.95 and its 200 day simple moving average is $16.46. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 3.37.

Insider Transactions at Cipher Mining

In other Cipher Mining news, Director Cary M. Grossman sold 30,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $14.54, for a total transaction of $436,200.00. Following the completion of the transaction, the director owned 170,530 shares of the company’s stock, valued at approximately $2,479,506.20. This trade represents a 14.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Patrick Arthur Kelly sold 35,568 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $14.98, for a total transaction of $532,808.64. Following the sale, the chief operating officer owned 1,441,508 shares in the company, valued at approximately $21,593,789.84. This trade represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 183,797 shares of company stock worth $2,915,655 in the last ninety days. 2.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cipher Mining

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sherman Asset Management Inc. bought a new position in shares of Cipher Mining during the third quarter valued at approximately $25,000. Los Angeles Capital Management LLC bought a new stake in shares of Cipher Mining in the 4th quarter worth approximately $25,000. Arax Advisory Partners grew its stake in shares of Cipher Mining by 274.2% in the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock worth $27,000 after buying an additional 1,338 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Cipher Mining by 218.3% in the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after buying an additional 1,286 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Cipher Mining during the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

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.