Cipher Mining (NASDAQ:CIFR) Price Target Raised to $30.00

Cipher Mining (NASDAQ:CIFR) had its price target hoisted by Rosenblatt Securities from $24.00 to $30.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

Several other equities research analysts have also weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $40.50 target price on shares of Cipher Mining in a report on Monday, April 27th. Keefe, Bruyette & Woods dropped their price objective on shares of Cipher Mining from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, March 11th. Cantor Fitzgerald dropped their price objective on shares of Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Zacks Research upgraded shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cipher Mining in a report on Friday, March 27th. Fourteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cipher Mining presently has an average rating of “Moderate Buy” and a consensus price target of $26.29.

Cipher Mining Trading Down 0.6%

CIFR opened at $20.55 on Wednesday. The firm’s fifty day moving average is $15.99 and its two-hundred day moving average is $16.83. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.79 and a current ratio of 3.13. The firm has a market cap of $8.41 billion, a PE ratio of -8.82 and a beta of 3.13. Cipher Mining has a twelve month low of $2.95 and a twelve month high of $25.52.

Cipher Mining (NASDAQ:CIFR) last posted its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The firm had revenue of $34.84 million during the quarter, compared to analyst estimates of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The company’s revenue was down 28.8% compared to the same quarter last year. Equities research analysts anticipate that Cipher Mining will post -0.9 EPS for the current year.

Insider Buying and Selling at Cipher Mining

In related news, Director Cary M. Grossman sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $21.82, for a total value of $436,400.00. Following the completion of the transaction, the director owned 150,530 shares of the company’s stock, valued at approximately $3,284,564.60. This trade represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Patrick Arthur Kelly sold 35,568 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $14.98, for a total transaction of $532,808.64. Following the completion of the transaction, the chief operating officer directly owned 1,441,508 shares of the company’s stock, valued at approximately $21,593,789.84. This trade represents a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 196,398 shares of company stock valued at $3,347,410 over the last quarter. 2.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Cipher Mining by 43.2% in the fourth quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock valued at $482,360,000 after purchasing an additional 9,865,533 shares in the last quarter. Situational Awareness LP grew its position in Cipher Mining by 82.4% in the fourth quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock valued at $154,524,000 after purchasing an additional 4,728,600 shares in the last quarter. Geode Capital Management LLC grew its position in Cipher Mining by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock valued at $120,519,000 after purchasing an additional 558,105 shares in the last quarter. State Street Corp grew its position in 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 purchasing an additional 745,030 shares in the last quarter. Finally, Value Aligned Research Advisors LLC grew its position in Cipher Mining by 45.9% in 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 purchasing an additional 2,342,958 shares in the last quarter. 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: Rosenblatt Securities raised its price target on Cipher Mining to $30 from $24 and reiterated a buy rating, signaling confidence in further upside. Rosenblatt Securities Raises Price Target on Cipher Mining
• Positive Sentiment: Keefe, Bruyette & Woods lifted its target to $27 from $23 and kept an outperform rating, which reinforced the bullish analyst trend. Cipher Mining Price Target Raised by Keefe, Bruyette & Woods
• Positive Sentiment: HC Wainwright also reportedly increased its price target to $30, adding another vote of confidence in Cipher Mining’s outlook. Cipher Mining Given New Price Target at HC Wainwright
• Positive Sentiment: News coverage highlighted Cipher Mining’s momentum tied to large AI campus leases and a $2.2 billion financing, which supports the company’s growth story and could attract momentum investors. Cipher Digital Is Up After Massive AI Campus Leases And Financing
• Neutral Sentiment: Cipher Mining said it will participate in several upcoming investor and industry conferences, which may help keep the company visible but does not change fundamentals by itself. Cipher Digital Announces Participation in Upcoming Investor and Industry Conferences
• Negative Sentiment: Director Cary M. Grossman sold 20,000 shares, trimming his stake by 11.73%, which can be viewed as a mild confidence signal against the stock. Cary M. Grossman Insider Sale SEC Filing
• Negative Sentiment: Director Wesley Hastie Williams sold 28,169 shares, reducing his position by 17.81%, adding a second insider-sale headline that may temper enthusiasm. Wesley Hastie Williams Insider Sale SEC Filing

Cipher Mining Company Profile

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.