Shares of Cipher Mining Inc. (NASDAQ:CIFR – Get Free Report) were down 19.6% on Thursday after Sanford C. Bernstein lowered their price target on the stock from $32.00 to $23.00. Sanford C. Bernstein currently has an outperform rating on the stock. Cipher Mining traded as low as $5.11 and last traded at $5.2230. Approximately 27,962,085 shares were traded during trading, a decline of 12% from the average daily volume of 31,680,197 shares. The stock had previously closed at $6.50.
A number of other analysts have also weighed in on CIFR. Morgan Stanley reduced their target price on Cipher Mining from $54.00 to $51.50 and set an “overweight” rating on the stock in a research note on Monday, October 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a research note on Monday, September 21st. Keefe, Bruyette & Woods lowered shares of Cipher Mining from an “outperform” rating to a “market perform” rating and set a $9.50 price objective for the company. in a report on Wednesday. Wells Fargo & Company reduced their price objective on Cipher Mining from $25.00 to $15.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Chardan Capital reiterated a “buy” rating and issued a $32.00 target price on shares of Cipher Mining in a report on Tuesday, August 4th. Fifteen investment analysts have rated the stock with a Buy rating, four have given 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 target price of $24.25.
View Our Latest Stock Analysis on CIFR
Cipher Mining News Summary
Here are the key news stories impacting Cipher Mining this week:
- Positive Sentiment: Cipher’s AI-infrastructure transition is beginning to generate lease revenue. Recent coverage cited a Barber Lake lease expansion and as much as $16.6 billion in contracted revenue, supporting the longer-term growth case. Article: Cipher Digital books first HPC lease revenue as Bitcoin mining fades Article: CIFR Q3 Earnings Call Highlights Growth Plans and Cost Pressures
- Positive Sentiment: Some analysts still see substantial upside despite lowering estimates: Sanford C. Bernstein retained an “outperform” rating with a $23 target, while other firms have kept positive ratings at reduced targets. Sanford C. Bernstein recommendation
- Negative Sentiment: Election results are adding sector-specific uncertainty. Reports say Democratic midterm wins raised investor fears that tighter regulation could delay data-center construction and constrain AI infrastructure growth, weighing on Cipher and other data-center stocks. Article: Cipher Stock Plummets After Democrats’ Midterm Wins
- Negative Sentiment: Analyst sentiment has weakened: Keefe, Bruyette & Woods cut CIFR to “market perform,” and Cantor Fitzgerald, JPMorgan, Needham, and Rosenblatt lowered price targets. The lower estimates reinforce concerns about the stock’s near-term outlook, even where analysts continue to see upside. Article: Rating cut to Market Perform
- Negative Sentiment: Investors are also weighing AI-project funding needs. Coverage noted that an $850 million convertible-debt offering contributed to October’s steep decline, while the sector is favoring companies with credit-backed tenants and financing certainty. Article: Why Cipher Digital Stock Lost 53.9% in October
Institutional Investors Weigh In On Cipher Mining
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in shares of Cipher Mining by 237.7% during the first quarter. Bank of America Corp DE now owns 1,414,667 shares of the company’s stock worth $18,207,000 after buying an additional 995,735 shares in the last quarter. Moore Capital Management LP acquired a new stake in shares of Cipher Mining in the second quarter valued at about $35,077,000. Wellington Management Group LLP raised its position in shares of Cipher Mining by 567.1% in the second quarter. Wellington Management Group LLP now owns 3,985,806 shares of the company’s stock valued at $97,652,000 after buying an additional 3,388,359 shares during the last quarter. FirstWave Capital Management LLC purchased a new position in shares of Cipher Mining in the second quarter worth about $2,410,000. Finally, Fifth Third Bancorp purchased a new position in shares of Cipher Mining in the first quarter worth about $2,551,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.
Cipher Mining Trading Down 14.0%
The stock has a market capitalization of $2.55 billion, a PE ratio of -1.76 and a beta of 3.53. The company’s 50 day moving average price is $13.65 and its two-hundred day moving average price is $17.59. The company has a debt-to-equity ratio of 9.10, a current ratio of 1.69 and a quick ratio of 3.00.
Cipher Mining (NASDAQ:CIFR – Get Free Report) last announced its earnings results on Monday, November 2nd. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.03. The company had revenue of $26.70 million during the quarter, compared to analyst estimates of $39.31 million. Cipher Mining had a negative net margin of 742.33% and a negative return on equity of 161.74%. Cipher Mining’s revenue was down 62.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. As a group, analysts expect that Cipher Mining Inc. will post -1.36 earnings per share for the current year.
About Cipher Mining
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.
Read More
- Five stocks we like better than Cipher Mining
- The Fed Is Split on Rates—Why These 2 Treasury ETFs Could Have an Edge
- Gold’s 2026 Pullback Raises a Bigger Question: Buy the Metal or the Miners?
- Matador Resources Insider Buying and the Case for a Dividend Stock Rebound
- Datadog’s Post-Earnings Sell-Off: A Buying Opportunity in Plain Sight?
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.
