Cipher Mining Inc. (NASDAQ:CIFR) Receives Consensus Rating of “Buy” from Analysts

Shares of Cipher Mining Inc. (NASDAQ:CIFR) have earned an average recommendation of “Buy” from the thirteen analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, ten have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $8.13.

A number of research analysts have weighed in on the company. Needham & Company LLC decreased their price target on Cipher Mining from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Canaccord Genuity Group restated a “buy” rating and set a $8.00 target price on shares of Cipher Mining in a report on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of Cipher Mining in a research report on Wednesday, February 26th. JPMorgan Chase & Co. cut shares of Cipher Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, March 13th. Finally, Rosenblatt Securities started coverage on Cipher Mining in a research report on Friday, March 7th. They set a “buy” rating and a $6.50 price target on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CIFR. V3 Holding Ltd acquired a new stake in shares of Cipher Mining during the fourth quarter worth $452,713,000. Lone Pine Capital LLC acquired a new stake in Cipher Mining in the 4th quarter worth about $10,878,000. Helix Partners Management LP bought a new stake in Cipher Mining in the 4th quarter valued at about $10,426,000. Driehaus Capital Management LLC bought a new stake in Cipher Mining in the 4th quarter valued at about $9,439,000. Finally, Tidal Investments LLC grew its position in shares of Cipher Mining by 73.4% during the 3rd quarter. Tidal Investments LLC now owns 3,742,931 shares of the company’s stock worth $14,485,000 after purchasing an additional 1,584,874 shares in the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

Cipher Mining Trading Up 0.4 %

Shares of NASDAQ:CIFR opened at $2.33 on Friday. The stock has a market capitalization of $856.58 million, a PE ratio of -17.92 and a beta of 2.65. The company’s 50-day moving average price is $3.58 and its two-hundred day moving average price is $4.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57. Cipher Mining has a one year low of $1.86 and a one year high of $7.99.

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.