Cipher Mining (NASDAQ:CIFR) Stock Rating Upgraded by Wall Street Zen

Cipher Mining (NASDAQ:CIFR) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Friday.

A number of other brokerages have also recently weighed in on CIFR. Wells Fargo & Company set a $18.00 price objective on Cipher Mining in a research note on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Cipher Mining in a report on Monday, December 29th. BTIG Research reaffirmed a “buy” rating and issued a $25.00 target price on shares of Cipher Mining in a research report on Wednesday, November 5th. Macquarie increased their price target on shares of Cipher Mining from $16.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Northland Securities set a $27.50 price objective on shares of Cipher Mining in a research note on Tuesday, November 4th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cipher Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.73.

Cipher Mining Stock Performance

Shares of CIFR stock opened at $17.57 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.49 and a current ratio of 2.49. The firm has a market cap of $6.94 billion, a P/E ratio of -97.61 and a beta of 2.94. The firm’s 50 day moving average price is $16.98 and its 200-day moving average price is $13.45. Cipher Mining has a one year low of $1.86 and a one year high of $25.52.

Cipher Mining (NASDAQ:CIFR) last posted its earnings results on Monday, November 3rd. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.07. The firm had revenue of $106.69 million during the quarter, compared to the consensus estimate of $79.13 million. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. As a group, equities research analysts predict that Cipher Mining will post -0.31 EPS for the current year.

Insider Buying and Selling

In other news, COO Patrick Arthur Kelly sold 35,569 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $15.08, for a total value of $536,380.52. Following the sale, the chief operating officer directly owned 1,151,770 shares in the company, valued at approximately $17,368,691.60. This trade represents a 3.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Iwaschuk sold 173,094 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $22.52, for a total transaction of $3,898,076.88. Following the transaction, the insider owned 1,054,488 shares of the company’s stock, valued at approximately $23,747,069.76. The trade was a 14.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 444,117 shares of company stock valued at $8,340,332 over the last ninety days. 2.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Cipher Mining

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tyche Wealth Partners LLC boosted its position in shares of Cipher Mining by 119.0% during the 4th quarter. Tyche Wealth Partners LLC now owns 115,000 shares of the company’s stock worth $1,697,000 after acquiring an additional 62,500 shares in the last quarter. Sippican Capital Advisors raised its position in shares of Cipher Mining by 151.2% during the 4th quarter. Sippican Capital Advisors now owns 52,750 shares of the company’s stock worth $779,000 after acquiring an additional 31,750 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Cipher Mining during the fourth quarter worth approximately $55,000. Rathbones Group PLC purchased a new stake in Cipher Mining during the fourth quarter worth approximately $159,000. Finally, Formidable Asset Management LLC acquired a new position in Cipher Mining in the fourth quarter valued at approximately $659,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

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.