Cipher Mining’s (CIFR) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Cipher Mining (NASDAQ:CIFR) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $5.50 target price on the stock.

CIFR has been the topic of a number of other research reports. Cantor Fitzgerald dropped their target price on shares of Cipher Mining from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. cut shares of Cipher Mining from an “overweight” rating to a “neutral” rating in a research note on Thursday, March 13th. Keefe, Bruyette & Woods assumed coverage on Cipher Mining in a research note on Wednesday, January 8th. They set an “outperform” rating on the stock. Needham & Company LLC reduced their price objective on Cipher Mining from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of Cipher Mining in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Cipher Mining has a consensus rating of “Buy” and an average target price of $8.03.

Cipher Mining Trading Down 4.5 %

Shares of CIFR stock opened at $2.98 on Wednesday. Cipher Mining has a 12 month low of $1.86 and a 12 month high of $7.99. The company has a market cap of $1.11 billion, a PE ratio of -22.92 and a beta of 2.61. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $2.80 and its two-hundred day moving average is $4.70.

Cipher Mining (NASDAQ:CIFR) last posted its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $48.96 million for the quarter, compared to analyst estimates of $53.57 million. Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. Equities analysts predict that Cipher Mining will post -0.31 EPS for the current year.

Institutional Trading of Cipher Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. V3 Holding Ltd bought a new position in shares of Cipher Mining in the 4th quarter valued at about $452,713,000. Vanguard Group Inc. boosted its holdings in Cipher Mining by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company’s stock worth $84,318,000 after buying an additional 1,189,756 shares during the last quarter. Invesco Ltd. grew its position in shares of Cipher Mining by 16.7% during the 4th quarter. Invesco Ltd. now owns 6,443,723 shares of the company’s stock worth $29,899,000 after buying an additional 924,262 shares during the period. Geode Capital Management LLC increased its stake in Cipher Mining by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 5,727,990 shares of the company’s stock valued at $26,583,000 after purchasing an additional 218,137 shares in the last quarter. Finally, Vident Advisory LLC increased its holdings in shares of Cipher Mining by 29.4% in the fourth quarter. Vident Advisory LLC now owns 4,250,078 shares of the company’s stock worth $19,720,000 after acquiring an additional 965,648 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

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.