Shares of Cipher Mining Inc. (NASDAQ:CIFR – Get Free Report) have earned an average rating of “Moderate Buy” from the nineteen research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, fifteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $28.3125.
Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cipher Mining in a research report on Wednesday, June 24th. Jefferies Financial Group assumed coverage on Cipher Mining in a report on Thursday, May 14th. They set a “buy” rating and a $32.00 target price on the stock. Rosenblatt Securities restated a “buy” rating and issued a $30.00 target price on shares of Cipher Mining in a research note on Thursday, June 25th. BTIG Research lifted their price target on Cipher Mining from $25.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Finally, HC Wainwright lifted their price target on Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, May 6th.
View Our Latest Stock Analysis on Cipher Mining
Cipher Mining Stock Performance
Cipher Mining (NASDAQ:CIFR – Get Free Report) last announced its 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 business had revenue of $34.84 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 28.8% on a year-over-year basis. On average, equities analysts forecast that Cipher Mining will post -0.8 earnings per share for the current fiscal year.
Insider Transactions at Cipher Mining
In other news, CEO Tyler Page sold 112,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $21.19, for a total transaction of $2,383,875.00. Following the transaction, the chief executive officer directly owned 9,084,225 shares in the company, valued at approximately $192,494,727.75. This represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cary M. Grossman sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $29.43, for a total transaction of $441,450.00. Following the sale, the director directly owned 143,829 shares in the company, valued at $4,232,887.47. This trade represents a 9.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,245,336 shares of company stock worth $83,803,938. Corporate insiders own 2.63% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. CoreCap Advisors LLC lifted its holdings in Cipher Mining by 41.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,700 shares of the company’s stock worth $42,000 after buying an additional 500 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Cipher Mining in the 4th quarter valued at $25,000. Arax Advisory Partners increased its stake in shares of Cipher Mining by 274.2% in the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock valued at $27,000 after buying an additional 1,338 shares during the period. GAMMA Investing LLC raised 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 worth $28,000 after acquiring an additional 1,286 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Cipher Mining during the fourth quarter worth $28,000. Institutional investors 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.
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