Cipher Mining (NASDAQ:CIFR) Cut to “Market Perform” at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods downgraded shares of Cipher Mining (NASDAQ:CIFR) from an outperform rating to a market perform rating in a research report sent to investors on Wednesday, Marketbeat.com reports. The brokerage currently has $9.50 price objective on the stock.

Several other analysts also recently issued reports on the company. Rosenblatt Securities decreased their target price on Cipher Mining from $30.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday. Freedom Capital raised Cipher Mining to a “hold” rating in a research note on Friday, September 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cipher Mining in a research note on Monday, September 21st. Cantor Fitzgerald dropped their target price on shares of Cipher Mining from $19.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Rothschild & Co Redburn started coverage on shares of Cipher Mining in a research report on Monday, September 21st. They issued a “neutral” rating and a $18.00 target price for the company. Fifteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.25.

Cipher Mining Price Performance

Shares of Cipher Mining stock opened at $6.55 on Wednesday. The company has a 50 day moving average price of $13.24 and a 200 day moving average price of $17.47. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 9.69. Cipher Mining has a 52 week low of $5.07 and a 52 week high of $30.14.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings results on Monday, November 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.03. The company had revenue of $26.70 million for the quarter, compared to analysts’ expectations of $39.31 million. Cipher Mining had a negative net margin of 742.33% and a negative return on equity of 156.28%. The firm’s revenue for the quarter was down 62.8% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. As a group, equities research analysts predict that Cipher Mining will post -1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cipher Mining

Several hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC raised its stake in shares of Cipher Mining by 1.9% in the first quarter. Janus Henderson Group PLC now owns 4,373,982 shares of the company’s stock valued at $56,292,000 after acquiring an additional 81,192 shares in the last quarter. Wellington Management Group LLP increased its holdings 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 worth $97,652,000 after acquiring an additional 3,388,359 shares in the last quarter. Jennison Associates LLC increased its position in Cipher Mining by 48.7% during the first quarter. Jennison Associates LLC now owns 2,519,281 shares of the company’s stock worth $32,423,000 after acquiring an additional 824,618 shares during the period. Renaissance Technologies LLC bought a new stake in Cipher Mining in the first quarter valued at $24,486,000. Finally, Moore Capital Management LP purchased a new stake in Cipher Mining in the 2nd quarter worth approximately $35,077,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Key Stories Impacting Cipher Mining

Here are the key news stories impacting Cipher Mining this week:

• Positive Sentiment: A broad rebound in AI-infrastructure shares lifted CIFR, following a steep selloff tied to Texas political uncertainty. Article: TeraWulf Rises 4% After Q3 Beat and Google-Backed Anthropic Lease; IREN Surges 17%, Cipher Digital Climbs 6%
• Neutral Sentiment: CIFR reportedly rose after earnings, with its latest quarterly loss per share narrower than analysts expected. However, revenue missed estimates and fell 62.8% year over year, making the results mixed. Article: Cipher Mining Shares Climb Following Strong Earnings
• Negative Sentiment: Texas political developments have raised concerns about the outlook for data-center projects, weighing on Cipher and other former crypto miners repositioning as AI infrastructure providers. Article: Cipher Digital Stock Falls After Texas Governor Upset
• Negative Sentiment: Several analysts lowered their expectations: Bernstein cut its price target to $23 but kept an Outperform rating, while Keefe, Bruyette & Woods cut its rating to Market Perform. Reports also cite target cuts from Cantor Fitzgerald, Needham and Rosenblatt, and a pessimistic JPMorgan outlook. Article: Bernstein Lowers Cipher Mining Price Target Article: KBW Cuts Cipher Mining Rating to Market Perform

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.