Cipher Mining Inc. (NASDAQ:CIFR) Given Average Rating of “Buy” by Brokerages

Cipher Mining Inc. (NASDAQ:CIFR) has been given a consensus rating of “Buy” by the twelve brokerages that are covering the firm, MarketBeat reports. Ten analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $8.31.

CIFR has been the subject of several recent research reports. Keefe, Bruyette & Woods initiated coverage on shares of Cipher Mining in a research report on Wednesday, January 8th. They issued an “outperform” rating for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $8.00 price target on shares of Cipher Mining in a research report on Wednesday. Northland Securities raised their price target on shares of Cipher Mining from $6.00 to $8.50 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of Cipher Mining in a research report on Wednesday. Finally, Macquarie raised their price target on shares of Cipher Mining from $6.00 to $7.25 and gave the company an “outperform” rating in a research report on Thursday, November 7th.

Institutional Investors Weigh In On Cipher Mining

Institutional investors have recently modified their holdings of the company. Voya Investment Management LLC lifted its position in Cipher Mining by 3.6% in the fourth quarter. Voya Investment Management LLC now owns 59,135 shares of the company’s stock valued at $274,000 after acquiring an additional 2,036 shares during the last quarter. Victory Capital Management Inc. lifted its position in Cipher Mining by 8.8% in the third quarter. Victory Capital Management Inc. now owns 25,996 shares of the company’s stock valued at $101,000 after acquiring an additional 2,101 shares during the last quarter. Xponance Inc. lifted its position in Cipher Mining by 17.8% in the fourth quarter. Xponance Inc. now owns 14,151 shares of the company’s stock valued at $66,000 after acquiring an additional 2,140 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Cipher Mining by 17.4% in the fourth quarter. Russell Investments Group Ltd. now owns 14,524 shares of the company’s stock valued at $67,000 after acquiring an additional 2,149 shares during the last quarter. Finally, Vima LLC lifted its position in Cipher Mining by 11.3% in the third quarter. Vima LLC now owns 24,656 shares of the company’s stock valued at $95,000 after acquiring an additional 2,504 shares during the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

Cipher Mining Stock Down 5.0 %

Cipher Mining stock opened at $3.97 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. Cipher Mining has a fifty-two week low of $2.65 and a fifty-two week high of $7.99. The company has a market capitalization of $1.38 billion, a PE ratio of -30.54 and a beta of 2.41. The firm has a 50 day moving average price of $5.31 and a 200 day moving average price of $5.03.

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.