Cipher Mining Inc. (NASDAQ:CIFR) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Cipher Mining Inc. (NASDAQ:CIFR) have been assigned an average recommendation of “Moderate Buy” from the twenty analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $24.25.

CIFR has been the topic of several research analyst reports. Rothschild & Co Redburn began coverage on Cipher Mining in a research note on Monday, September 21st. They issued a “neutral” rating and a $18.00 price objective on the stock. Rosenblatt Securities reduced their price objective on Cipher Mining from $30.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, November 3rd. HC Wainwright reissued a “buy” rating on shares of Cipher Mining in a research report on Monday, November 2nd. Needham & Company LLC lowered their target price on Cipher Mining from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, November 3rd. Finally, Sanford C. Bernstein lowered their target price on Cipher Mining from $32.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday.

Cipher Mining Stock Performance

Shares of CIFR stock opened at $6.55 on Friday. The company has a debt-to-equity ratio of 9.10, a quick ratio of 3.00 and a current ratio of 1.69. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -2.13 and a beta of 3.53. Cipher Mining has a 52 week low of $5.07 and a 52 week high of $30.14. The firm’s 50-day simple moving average is $13.24 and its two-hundred day simple moving average is $17.47.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Monday, November 2nd. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.03. Cipher Mining had a negative net margin of 742.33% and a negative return on equity of 161.74%. The firm had revenue of $26.70 million during the quarter, compared to the consensus estimate of $39.31 million. During the same period in the prior year, the firm earned $0.10 EPS. The company’s revenue was down 62.8% compared to the same quarter last year. As a group, equities analysts forecast that Cipher Mining will post -1.36 earnings per share for the current year.

Institutional Investors Weigh In On Cipher Mining

Large investors have recently added to or reduced their stakes in the company. Fulcrum Asset Management LLP boosted its position in Cipher Mining by 257.6% during the third quarter. Fulcrum Asset Management LLP now owns 68,861 shares of the company’s stock worth $1,137,000 after purchasing an additional 49,605 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Cipher Mining by 17.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 203,586 shares of the company’s stock valued at $3,147,000 after purchasing an additional 30,832 shares during the period. Pictet Asset Management Holding SA raised its position in shares of Cipher Mining by 5.8% in the third quarter. Pictet Asset Management Holding SA now owns 61,804 shares of the company’s stock valued at $978,000 after purchasing an additional 3,365 shares during the period. CenterBook Partners LP bought a new stake in shares of Cipher Mining in the third quarter valued at approximately $691,000. Finally, Kestra Advisory Services LLC lifted its stake in shares of Cipher Mining by 5.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 88,548 shares of the company’s stock valued at $1,401,000 after buying an additional 4,510 shares in the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Trending Headlines about Cipher Mining

Here are the key news stories impacting Cipher Mining this week:

• Positive Sentiment: A broad rebound in AI-infrastructure shares lifted CIFR, following a steep selloff tied to Texas political uncertainty. Article: TeraWulf Rises 4% After Q3 Beat and Google-Backed Anthropic Lease; IREN Surges 17%, Cipher Digital Climbs 6%
• Neutral Sentiment: CIFR reportedly rose after earnings, with its latest quarterly loss per share narrower than analysts expected. However, revenue missed estimates and fell 62.8% year over year, making the results mixed. Article: Cipher Mining Shares Climb Following Strong Earnings
• Negative Sentiment: Texas political developments have raised concerns about the outlook for data-center projects, weighing on Cipher and other former crypto miners repositioning as AI infrastructure providers. Article: Cipher Digital Stock Falls After Texas Governor Upset
• Negative Sentiment: Several analysts lowered their expectations: Bernstein cut its price target to $23 but kept an Outperform rating, while Keefe, Bruyette & Woods cut its rating to Market Perform. Reports also cite target cuts from Cantor Fitzgerald, Needham and Rosenblatt, and a pessimistic JPMorgan outlook. Article: Bernstein Lowers Cipher Mining Price Target Article: KBW Cuts Cipher Mining Rating to Market Perform

Cipher Mining Company Profile

Cipher Mining Inc (NASDAQ: CIFR) is a bitcoin mining company that develops and operates large-scale data center infrastructure in the United States. The company uses specialized application-specific integrated circuit (ASIC) computers to validate transactions on the Bitcoin network and earn bitcoin rewards.

Cipher focuses on securing access to cost-effective power, building and managing mining facilities, and deploying high-performance computing equipment. Its operations are supported by power infrastructure, cooling systems, networking equipment and other data center technologies required for energy-intensive digital asset mining.

The company was formed through the combination of Cipher Mining Technologies Inc and Good Works Acquisition Corp.