Cipher Mining (NASDAQ:CIFR) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Cipher Mining (NASDAQ:CIFR) had its target price boosted by equities research analysts at Keefe, Bruyette & Woods from $13.00 to $22.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 33.41% from the stock’s previous close.

CIFR has been the subject of a number of other reports. Wall Street Zen upgraded shares of Cipher Mining from a “sell” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. upgraded Cipher Mining from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $12.00 to $18.00 in a research note on Monday, November 24th. Wells Fargo & Company set a $18.00 price target on Cipher Mining in a report on Monday, November 24th. HC Wainwright lifted their price objective on Cipher Mining to $30.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Finally, Citizens Jmp started coverage on Cipher Mining in a research report on Wednesday, November 19th. They issued an “outperform” rating and a $30.00 target price for the company. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cipher Mining currently has an average rating of “Moderate Buy” and an average target price of $24.54.

Cipher Mining Stock Down 6.1%

NASDAQ:CIFR opened at $16.49 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.49 and a quick ratio of 2.49. The firm’s 50-day moving average price is $17.02 and its 200-day moving average price is $13.57. The company has a market capitalization of $6.52 billion, a PE ratio of -91.61 and a beta of 2.94. Cipher Mining has a 1-year low of $1.86 and a 1-year high of $25.52.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Monday, November 3rd. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.07. The business had revenue of $106.69 million for the quarter, compared to the consensus estimate of $79.13 million. Cipher Mining had a negative return on equity of 9.57% and a negative net margin of 34.16%. On average, equities analysts predict that Cipher Mining will post -0.31 EPS for the current fiscal year.

Insider Activity at Cipher Mining

In other news, Director Wesley Hastie Williams sold 49,867 shares of Cipher Mining stock in a transaction on Friday, December 19th. The shares were sold at an average price of $16.08, for a total transaction of $801,861.36. Following the transaction, the director owned 158,145 shares in the company, valued at $2,542,971.60. This trade represents a 23.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Cary M. Grossman sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $19.00, for a total value of $475,000.00. Following the completion of the sale, the director owned 200,530 shares of the company’s stock, valued at $3,810,070. This trade represents a 11.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 444,117 shares of company stock valued at $8,340,332 in the last three months. Corporate insiders own 2.63% of the company’s stock.

Hedge Funds Weigh In On Cipher Mining

Several large investors have recently added to or reduced their stakes in CIFR. CWM LLC raised its position in shares of Cipher Mining by 43.3% during the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock valued at $39,000 after purchasing an additional 804 shares during the period. GAMMA Investing LLC increased its stake in 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 in the last quarter. Nisa Investment Advisors LLC raised its holdings in 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. DKM Wealth Management Inc. lifted its position in shares of Cipher Mining by 15.1% in the fourth quarter. DKM Wealth Management Inc. now owns 14,361 shares of the company’s stock valued at $212,000 after acquiring an additional 1,886 shares in the last quarter. Finally, Sherman Asset Management Inc. bought a new position in shares of Cipher Mining in the third quarter worth about $25,000. 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.