Cipher Mining Inc. (NASDAQ:CIFR) Receives $27.69 Consensus Price Target from Analysts

Shares of Cipher Mining Inc. (NASDAQ:CIFR) have earned an average rating of “Moderate Buy” from the nineteen research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $27.6875.

Several equities research analysts recently commented on CIFR shares. Wall Street Zen lowered shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a report on Sunday, March 1st. Morgan Stanley lowered their target price on shares of Cipher Mining from $53.50 to $48.50 and set an “overweight” rating on the stock in a research note on Thursday, June 4th. Jefferies Financial Group assumed coverage on shares of Cipher Mining in a research note on Thursday, May 14th. They set a “buy” rating and a $32.00 target price on the stock. HC Wainwright lifted their target price on shares of Cipher Mining from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a research note on Friday, March 27th.

Cipher Mining Price Performance

Shares of NASDAQ CIFR opened at $26.03 on Thursday. The firm has a market cap of $10.65 billion, a PE ratio of -11.17 and a beta of 3.18. The firm has a fifty day moving average of $20.36 and a 200 day moving average of $17.65. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13. Cipher Mining has a one year low of $3.29 and a one year high of $28.62.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The company had revenue of $34.84 million during the quarter, compared to analysts’ expectations of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.Cipher Mining’s revenue was down 28.8% on a year-over-year basis. As a group, research analysts predict that Cipher Mining will post -0.8 EPS for the current fiscal year.

Insider Activity at Cipher Mining

In other Cipher Mining news, major shareholder Holding Ltd V3 sold 1,200,000 shares of Cipher Mining stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $25.49, for a total transaction of $30,588,000.00. Following the sale, the insider owned 58,316,694 shares of the company’s stock, valued at $1,486,492,530.06. The trade was a 2.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Wesley Hastie Williams sold 14,567 shares of Cipher Mining stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $21.41, for a total transaction of $311,879.47. Following the sale, the director directly owned 115,409 shares in the company, valued at approximately $2,470,906.69. This trade represents a 11.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,178,236 shares of company stock worth $81,848,926 over the last 90 days. Corporate insiders own 2.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CIFR. Millennium Management LLC acquired a new position in shares of Cipher Mining during the 1st quarter valued at about $9,316,000. Goldman Sachs Group Inc. boosted its position in shares of Cipher Mining by 52.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock valued at $10,765,000 after acquiring an additional 1,610,073 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Cipher Mining during the 2nd quarter valued at about $98,000. Prudential Financial Inc. boosted its position in shares of Cipher Mining by 113.7% during the 2nd quarter. Prudential Financial Inc. now owns 31,595 shares of the company’s stock valued at $151,000 after acquiring an additional 16,810 shares during the last quarter. Finally, XTX Topco Ltd boosted its position in shares of Cipher Mining by 65.2% during the 2nd quarter. XTX Topco Ltd now owns 29,708 shares of the company’s stock valued at $142,000 after acquiring an additional 11,725 shares during the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

About Cipher Mining

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.