Cipher Mining (NASDAQ:CIFR) Raised to Hold at Wall Street Zen

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

CIFR has been the subject of several other reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $27.00 price target on shares of Cipher Mining in a report on Monday, December 15th. Citigroup began coverage on shares of Cipher Mining in a report on Wednesday, November 19th. They issued an “outperform” rating on the stock. Rosenblatt Securities lifted their target price on Cipher Mining to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Citizens Jmp set a $30.00 price target on Cipher Mining in a research report on Wednesday, November 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cipher Mining in a research report on Monday, December 29th. Fourteen investment 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.11.

Cipher Mining Stock Performance

Shares of CIFR opened at $14.65 on Friday. The stock has a market capitalization of $5.79 billion, a PE ratio of -81.39 and a beta of 2.95. The business’s fifty day moving average price is $16.35 and its 200 day moving average price is $14.93. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.49 and a quick ratio of 2.49. Cipher Mining has a 12-month low of $1.86 and a 12-month high of $25.52.

Insider Buying and Selling at Cipher Mining

In related news, COO Patrick Arthur Kelly sold 35,569 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $15.08, for a total value of $536,380.52. Following the completion of the transaction, the chief operating officer directly owned 1,151,770 shares of the company’s stock, valued at $17,368,691.60. This represents a 3.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Cary M. Grossman sold 25,000 shares of Cipher Mining stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $19.00, for a total value of $475,000.00. Following the sale, the director directly owned 200,530 shares in the company, valued at $3,810,070. The trade was a 11.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 182,825 shares of company stock valued at $3,075,820. 2.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cipher Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Cipher Mining by 43.2% in the 4th quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock valued at $482,360,000 after buying an additional 9,865,533 shares in the last quarter. Situational Awareness LP lifted its stake in shares of Cipher Mining by 82.4% in the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock worth $154,524,000 after acquiring an additional 4,728,600 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cipher Mining by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock worth $120,519,000 after acquiring an additional 558,105 shares during the period. State Street Corp boosted its holdings in shares of Cipher Mining by 10.2% in the fourth quarter. State Street Corp now owns 8,078,423 shares of the company’s stock valued at $119,238,000 after acquiring an additional 745,030 shares in the last quarter. Finally, Value Aligned Research Advisors LLC increased its stake in shares of Cipher Mining by 45.9% during the fourth quarter. Value Aligned Research Advisors LLC now owns 7,447,495 shares of the company’s stock valued at $109,925,000 after acquiring an additional 2,342,958 shares during the period. 12.26% of the stock is currently owned by 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.