Cipher Mining (NASDAQ:CIFR – Get Free Report)‘s stock had its “overweight” rating restated by investment analysts at Cantor Fitzgerald in a research report issued on Thursday, Benzinga reports. They presently have a $5.00 price objective on the stock. Cantor Fitzgerald’s price target would indicate a potential downside of 4.03% from the stock’s previous close.
Other equities research analysts also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price objective on shares of Cipher Mining in a research note on Monday, March 18th. Canaccord Genuity Group restated a “buy” rating and set a $5.50 price target on shares of Cipher Mining in a report on Wednesday, March 6th. Finally, HC Wainwright reissued a “buy” rating and set a $4.50 price objective on shares of Cipher Mining in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.25.
View Our Latest Stock Analysis on Cipher Mining
Cipher Mining Price Performance
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank boosted its holdings in Cipher Mining by 7.1% in the 1st quarter. Swiss National Bank now owns 116,500 shares of the company’s stock valued at $424,000 after purchasing an additional 7,700 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Cipher Mining during the first quarter valued at approximately $51,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Cipher Mining by 32.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 26,750 shares of the company’s stock valued at $97,000 after purchasing an additional 6,500 shares in the last quarter. Citigroup Inc. boosted its stake in Cipher Mining by 879.7% during the first quarter. Citigroup Inc. now owns 103,215 shares of the company’s stock worth $376,000 after buying an additional 92,680 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Cipher Mining by 14.7% in the 1st quarter. BlackRock Inc. now owns 233,677 shares of the company’s stock valued at $850,000 after buying an additional 30,031 shares in the last quarter. 12.26% of the stock is owned by institutional investors.
Cipher Mining Company Profile
Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.
Recommended Stories
- Five stocks we like better than Cipher Mining
- How to Invest in Blue Chip Stocks
- 3 Value Stocks Too Small For Buffett’s Portfolio
- The How And Why of Investing in Oil Stocks
- Foot Locker Builds Up Another Head of Steam; Gains Imminent
- What is the NASDAQ Stock Exchange?
- Disney Stock Catches 3 Upgrades In a Single Week
Receive News & Ratings for Cipher Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cipher Mining and related companies with MarketBeat.com's FREE daily email newsletter.