Cipher Mining (NASDAQ:CIFR) Stock Price Up 5.3% – What’s Next?

Shares of Cipher Mining Inc. (NASDAQ:CIFR) were up 5.3% during trading on Tuesday . The stock traded as high as $19.05 and last traded at $18.6220. Approximately 11,034,435 shares were traded during trading, a decline of 49% from the average daily volume of 21,740,438 shares. The stock had previously closed at $17.68.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Compass Point initiated coverage on shares of Cipher Mining in a research note on Monday, September 15th. They set a “buy” rating for the company. JMP Securities set a $30.00 price objective on Cipher Mining in a report on Wednesday, November 19th. Needham & Company LLC boosted their target price on Cipher Mining from $15.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Northland Securities set a $27.50 target price on Cipher Mining in a research report on Tuesday, November 4th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $27.00 price target on shares of Cipher Mining in a report on Monday, December 15th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.73.

Cipher Mining Stock Up 4.1%

The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.31. The business’s 50-day simple moving average is $17.23 and its 200-day simple moving average is $12.71. The company has a market capitalization of $7.27 billion, a PE ratio of -102.34 and a beta of 2.94.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.07. The firm had revenue of $106.69 million for the quarter, compared to analyst estimates of $79.13 million. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. As a group, equities research analysts anticipate that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling at Cipher Mining

In other Cipher Mining news, major shareholder Holding Ltd V3 sold 2,167,684 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $21.06, for a total value of $45,651,425.04. Following the completion of the transaction, the insider directly owned 61,852,537 shares of the company’s stock, valued at approximately $1,302,614,429.22. The trade was a 3.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Wesley Hastie Williams sold 49,867 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $16.08, for a total transaction of $801,861.36. Following the sale, the director directly owned 158,145 shares in the company, valued at $2,542,971.60. The trade was a 23.97% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 3,138,657 shares of company stock worth $64,808,727. Insiders own 2.63% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. World Equity Group Inc. acquired a new stake in shares of Cipher Mining during the 4th quarter valued at about $307,000. Wealth Management Partners LLC acquired a new stake in Cipher Mining in the fourth quarter valued at approximately $340,000. Lauer Wealth LLC acquired a new position in shares of Cipher Mining during the 4th quarter worth approximately $207,000. DKM Wealth Management Inc. grew its stake in Cipher Mining by 15.1% in the 4th quarter. DKM Wealth Management Inc. now owns 14,361 shares of the company’s stock valued at $212,000 after acquiring an additional 1,886 shares during the period. Finally, Scott Capital Advisors LLC increased its holdings in Cipher Mining by 300.0% in the 4th quarter. Scott Capital Advisors LLC now owns 40,000 shares of the company’s stock worth $590,000 after acquiring an additional 30,000 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

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.