Cipher Mining (NASDAQ:CIFR) PT Raised to $5.50

Cipher Mining (NASDAQ:CIFR) had its price objective increased by research analysts at HC Wainwright from $4.50 to $5.50 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 45.12% from the company’s current price.

A number of other brokerages have also weighed in on CIFR. Canaccord Genuity Group reaffirmed a “buy” rating and set a $5.50 target price on shares of Cipher Mining in a research report on Thursday, March 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price objective on shares of Cipher Mining in a research note on Thursday, March 28th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $5.00 price target on shares of Cipher Mining in a research note on Monday, April 22nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Cipher Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.42.

Cipher Mining Stock Down 15.2 %

CIFR traded down $0.68 during trading on Tuesday, reaching $3.79. 8,258,689 shares of the stock were exchanged, compared to its average volume of 8,471,780. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.60 and a current ratio of 4.60. The stock’s 50 day moving average price is $4.02 and its two-hundred day moving average price is $3.51. The stock has a market cap of $1.12 billion, a P/E ratio of -38.20 and a beta of 2.32. Cipher Mining has a twelve month low of $1.76 and a twelve month high of $5.75.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company had revenue of $43.42 million for the quarter, compared to analyst estimates of $35.73 million. Cipher Mining had a negative return on equity of 6.78% and a negative net margin of 20.32%. Equities analysts expect that Cipher Mining will post -0.15 EPS for the current year.

Institutional Trading of Cipher Mining

A number of large investors have recently added to or reduced their stakes in CIFR. New York State Common Retirement Fund increased its position in shares of Cipher Mining by 104.9% during the third quarter. New York State Common Retirement Fund now owns 10,921 shares of the company’s stock worth $25,000 after purchasing an additional 5,592 shares in the last quarter. Arizona State Retirement System acquired a new position in shares of Cipher Mining during the third quarter valued at approximately $33,000. Barclays PLC grew its stake in Cipher Mining by 93.4% during the 3rd quarter. Barclays PLC now owns 15,982 shares of the company’s stock valued at $37,000 after acquiring an additional 7,720 shares in the last quarter. Sloy Dahl & Holst LLC purchased a new position in shares of Cipher Mining during the 4th quarter worth $44,000. Finally, Wolverine Asset Management LLC acquired a new stake in Cipher Mining during the fourth quarter worth $49,000. Institutional investors own 12.26% of the company’s stock.

About Cipher Mining

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.