Cipher Mining Inc. (NASDAQ:CIFR – Get Free Report) shot up 7.9% during mid-day trading on Tuesday . The company traded as high as $22.29 and last traded at $22.16. Approximately 6,071,602 shares changed hands during trading, a decline of 77% from the average daily volume of 26,798,670 shares. The stock had previously closed at $20.54.
Wall Street Analyst Weigh In
A number of research firms have weighed in on CIFR. Jefferies Financial Group assumed coverage on shares of Cipher Mining in a research note on Thursday, May 14th. They issued a “buy” rating and a $32.00 target price on the stock. Sanford C. Bernstein initiated coverage on shares of Cipher Mining in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 price target on the stock. HC Wainwright upped their price objective on Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Rosenblatt Securities reissued a “buy” rating and set a $30.00 price objective on shares of Cipher Mining in a report on Thursday, June 25th. Finally, Morgan Stanley decreased their target price on Cipher Mining from $48.50 to $47.00 and set an “overweight” rating for the company in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cipher Mining presently has a consensus rating of “Moderate Buy” and an average price target of $28.22.
Read Our Latest Stock Report on CIFR
Cipher Mining Stock Up 15.8%
Cipher Mining (NASDAQ:CIFR – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The business had revenue of $34.84 million during the quarter, compared to analysts’ expectations of $36.12 million. The company’s revenue for the quarter was down 28.8% on a year-over-year basis. On average, sell-side analysts anticipate that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.
Insider Transactions at Cipher Mining
In related news, Director Wesley Hastie Williams sold 28,169 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $22.26, for a total transaction of $627,041.94. Following the sale, the director owned 129,976 shares of the company’s stock, valued at approximately $2,893,265.76. This represents a 17.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Holding Ltd V3 sold 1,800,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.62, for a total value of $47,916,000.00. Following the completion of the transaction, the insider owned 59,516,694 shares of the company’s stock, valued at approximately $1,584,334,394.28. This represents a 2.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,245,336 shares of company stock valued at $83,803,938. 2.63% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Cipher Mining
A number of institutional investors and hedge funds have recently modified their holdings of CIFR. Los Angeles Capital Management LLC purchased a new position in Cipher Mining during the fourth quarter valued at approximately $25,000. Arax Advisory Partners lifted its stake in Cipher Mining by 274.2% in the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock worth $27,000 after purchasing an additional 1,338 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Cipher Mining by 218.3% in the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock valued at $28,000 after purchasing an additional 1,286 shares during the period. Meeder Asset Management Inc. bought a new position in Cipher Mining in the 4th quarter valued at $28,000. Finally, Danske Bank A S grew its position in shares of Cipher Mining by 1,150.0% during the 4th quarter. Danske Bank A S now owns 2,500 shares of the company’s stock valued at $37,000 after purchasing an additional 2,300 shares in the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Articles
- Five stocks we like better than Cipher Mining
- Industrial and Utility Giants Boost Dividends as Data Center Tailwinds Build
- 2 ETFs to Access the World’s Best-Performing Stock Markets In 2026
- IREN’s $2.8 Billion AI Contract Haul Changes the Stock’s Story
- Alphabet Is Planning a New AI Chip. Here’s Why It Matters Ahead of Earnings
Receive News & Ratings for Cipher Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cipher Mining and related companies with MarketBeat.com's FREE daily email newsletter.
