Cipher Mining (NASDAQ:CIFR) Price Target Cut to $23.00 by Analysts at Sanford C. Bernstein

Cipher Mining (NASDAQ:CIFR) had its target price trimmed by Sanford C. Bernstein from $32.00 to $23.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also commented on CIFR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cipher Mining in a report on Monday, September 21st. Keefe, Bruyette & Woods downgraded Cipher Mining from an “outperform” rating to a “market perform” rating and set a $9.50 target price for the company. in a research note on Wednesday. Chardan Capital reaffirmed a “buy” rating and set a $32.00 target price on shares of Cipher Mining in a research report on Tuesday, August 4th. Citigroup reiterated a “market outperform” rating on shares of Cipher Mining in a research note on Monday, August 10th. Finally, Rosenblatt Securities reduced their price target on Cipher Mining from $30.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday. Fifteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.25.

Cipher Mining Trading Down 20.0%

CIFR opened at $6.50 on Wednesday. The firm has a market capitalization of $2.97 billion, a P/E ratio of -2.12 and a beta of 3.53. The firm’s 50 day moving average is $13.65 and its 200-day moving average is $17.59. Cipher Mining has a 52-week low of $6.18 and a 52-week high of $30.14. The company has a quick ratio of 3.00, a current ratio of 1.69 and a debt-to-equity ratio of 9.10.

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

Institutional Investors Weigh In On Cipher Mining

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in shares of Cipher Mining by 567.1% in the 2nd quarter. Wellington Management Group LLP now owns 3,985,806 shares of the company’s stock valued at $97,652,000 after acquiring an additional 3,388,359 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Cipher Mining by 1.9% during the first quarter. Janus Henderson Group PLC now owns 4,373,982 shares of the company’s stock worth $56,292,000 after purchasing an additional 81,192 shares during the last quarter. Moore Capital Management LP bought a new position in Cipher Mining during the second quarter worth $35,077,000. Jennison Associates LLC boosted its holdings in Cipher Mining by 48.7% in the first quarter. Jennison Associates LLC now owns 2,519,281 shares of the company’s stock worth $32,423,000 after purchasing an additional 824,618 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Cipher Mining during the first quarter worth $24,486,000. Institutional investors and hedge funds 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: Coverage described Cipher’s quarterly results as strong, and its shares climbed after the report. The company’s loss per share was narrower than analysts expected, although revenue fell short of estimates and declined substantially year over year. Cipher Mining shares climb following earnings
• Positive Sentiment: Cipher has begun recording revenue from an HPC lease, while its Barber Lake expansion and development pipeline point to a growing AI-infrastructure business. These contracts could help offset the longer-term shift away from Bitcoin mining, though delivery and financing remain important. Cipher books first HPC lease revenue
• Neutral Sentiment: The reports highlight a large contracted-revenue base and a substantial power-development pipeline, but these are forward-looking opportunities rather than proof that projects will be completed on schedule or generate expected returns. Q3 earnings call highlights
• Negative Sentiment: Several firms lowered price targets, and Keefe, Bruyette & Woods cut its rating from “outperform” to “market perform,” setting a $9.50 target. The revisions signal reduced expectations after CIFR’s sharp decline, even though some firms retained positive ratings. KBW cuts Cipher Mining rating
• Negative Sentiment: Investors remain concerned that AI-data-center projects require heavy capital and could be delayed by tighter regulation. Sector-wide financing worries have also hurt CIFR, including after its convertible-debt offering. Regulatory concerns pressure Cipher stock

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.