Cipher Mining (NASDAQ:CIFR) Price Target Lowered to $48.50 at Morgan Stanley

Cipher Mining (NASDAQ:CIFR) had its price objective lowered by research analysts at Morgan Stanley from $53.50 to $48.50 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 94.50% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Zacks Research upgraded Cipher Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 25th. Jefferies Financial Group initiated coverage on Cipher Mining in a research note on Thursday, May 14th. They set a “buy” rating and a $32.00 price target on the stock. Needham & Company LLC upped their price objective on Cipher Mining from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cipher Mining in a research note on Friday, March 27th. Finally, Sanford C. Bernstein initiated coverage on Cipher Mining in a research note on Wednesday. They issued an “outperform” rating and a $32.00 price objective on the stock. Sixteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.69.

Cipher Mining Stock Performance

CIFR traded down $1.30 on Thursday, hitting $24.94. 8,604,007 shares of the stock traded hands, compared to its average volume of 27,583,320. Cipher Mining has a 52 week low of $3.29 and a 52 week high of $28.62. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13. The firm has a market capitalization of $10.20 billion, a PE ratio of -10.62 and a beta of 3.18. The business has a fifty day moving average price of $18.75 and a two-hundred day moving average price of $17.17.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The firm had revenue of $34.84 million for the quarter, compared to the consensus estimate of $36.12 million. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year. On average, research analysts predict that Cipher Mining will post -0.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Cipher Mining news, CEO Tyler Page sold 37,500 shares of the business’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $16.11, for a total value of $604,125.00. Following the transaction, the chief executive officer directly owned 8,263,862 shares in the company, valued at $133,130,816.82. The trade was a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wesley Hastie Williams sold 14,567 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $21.41, for a total transaction of $311,879.47. Following the completion of the transaction, the director owned 115,409 shares in the company, valued at approximately $2,470,906.69. This trade represents a 11.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 213,804 shares of company stock valued at $3,877,735. 2.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cipher Mining

A number of large investors have recently bought and sold shares of CIFR. Vanguard Group Inc. grew its position in Cipher Mining by 43.2% during the 4th quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock worth $482,360,000 after acquiring an additional 9,865,533 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in Cipher Mining during the 3rd quarter worth approximately $70,524,000. Value Aligned Research Advisors LLC bought a new stake in Cipher Mining during the 3rd quarter worth approximately $64,266,000. Situational Awareness LP grew its position in Cipher Mining by 82.4% during 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 last quarter. Finally, Janus Henderson Group PLC grew its position in Cipher Mining by 3,718.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,292,790 shares of the company’s stock worth $63,359,000 after acquiring an additional 4,180,362 shares during the last quarter. 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.