Cipher Mining (NASDAQ:CIFR) Trading 9.4% Higher

Cipher Mining Inc. (NASDAQ:CIFR)’s stock price shot up 9.4% on Friday . The company traded as high as $4.40 and last traded at $4.30. 1,742,141 shares changed hands during trading, a decline of 79% from the average session volume of 8,478,415 shares. The stock had previously closed at $3.93.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 price objective on shares of Cipher Mining in a report on Thursday, March 28th. Canaccord Genuity Group reissued a “buy” rating and issued a $5.50 target price on shares of Cipher Mining in a research note on Thursday, March 28th. HC Wainwright reaffirmed a “buy” rating and set a $4.50 price target on shares of Cipher Mining in a research note on Tuesday, March 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $5.00 price objective on shares of Cipher Mining in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.25.

Cipher Mining Trading Up 5.3 %

The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.02. The business’s fifty day moving average is $4.00 and its 200-day moving average is $3.48. The stock has a market capitalization of $1.23 billion, a PE ratio of -41.40 and a beta of 2.32.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $43.42 million during the quarter, compared to the consensus estimate of $35.73 million. Cipher Mining had a negative return on equity of 6.78% and a negative net margin of 20.32%. As a group, analysts anticipate that Cipher Mining Inc. will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Cipher Mining

A number of hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC increased its holdings in shares of Cipher Mining by 107.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 693,097 shares of the company’s stock valued at $2,862,000 after acquiring an additional 358,897 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in shares of Cipher Mining in the 4th quarter valued at about $49,000. Swiss National Bank purchased a new stake in shares of Cipher Mining in the third quarter worth approximately $255,000. Van ECK Associates Corp boosted its holdings in shares of Cipher Mining by 22.3% during the third quarter. Van ECK Associates Corp now owns 1,403,549 shares of the company’s stock worth $3,270,000 after purchasing an additional 256,097 shares during the period. Finally, Barclays PLC grew its position in Cipher Mining by 93.4% during the third quarter. Barclays PLC now owns 15,982 shares of the company’s stock valued at $37,000 after purchasing an additional 7,720 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Company Profile

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.