Cipher Mining Inc. (NASDAQ:CIFR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Cipher Mining Inc. (NASDAQ:CIFR) have received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $25.4333.

Several analysts have weighed in on the company. Rosenblatt Securities lifted their price objective on Cipher Mining to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Citigroup began coverage on Cipher Mining in a research report on Wednesday, November 19th. They set an “outperform” rating on the stock. Morgan Stanley began coverage on Cipher Mining in a report on Monday. They issued an “overweight” rating and a $38.00 price objective for the company. HC Wainwright boosted their target price on shares of Cipher Mining to $30.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Citizens Jmp began coverage on shares of Cipher Mining in a research note on Wednesday, November 19th. They issued an “outperform” rating and a $30.00 price target for the company.

Insider Activity

In other news, Director Holly Morrow Evans sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $18.74, for a total value of $281,100.00. Following the sale, the director directly owned 195,512 shares of the company’s stock, valued at $3,663,894.88. The trade was a 7.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Cary M. Grossman sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $19.00, for a total value of $475,000.00. Following the transaction, the director directly owned 200,530 shares of the company’s stock, valued at approximately $3,810,070. This trade represents a 11.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 235,985 shares of company stock valued at $3,830,692. 2.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cipher Mining

A number of hedge funds have recently bought and sold shares of the company. Sherman Asset Management Inc. purchased a new position in Cipher Mining in the third quarter worth about $25,000. GAMMA Investing LLC increased 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 valued at $28,000 after acquiring an additional 1,286 shares in the last quarter. Hollencrest Capital Management purchased a new position in Cipher Mining in the 3rd quarter worth approximately $31,000. Danske Bank A S raised its holdings in Cipher Mining by 1,150.0% in the 4th quarter. Danske Bank A S now owns 2,500 shares of the company’s stock worth $37,000 after acquiring an additional 2,300 shares during the last quarter. Finally, CWM LLC lifted its position in Cipher Mining by 43.3% in the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock valued at $39,000 after acquiring an additional 804 shares in the last quarter. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Trading Up 2.0%

Shares of CIFR opened at $17.10 on Friday. Cipher Mining has a 1-year low of $1.86 and a 1-year high of $25.52. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.31. The firm’s 50-day moving average price is $16.84 and its 200-day moving average price is $14.34. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of -95.00 and a beta of 2.95.

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.