Cipher Mining (NASDAQ:CIFR) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Cipher Mining (NASDAQ:CIFR) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $8.00 price target on the stock.

Several other analysts have also recently issued reports on CIFR. BTIG Research raised their target price on Cipher Mining from $6.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods assumed coverage on Cipher Mining in a research report on Wednesday, January 8th. They issued an “outperform” rating on the stock. Northland Securities boosted their target price on Cipher Mining from $6.00 to $8.50 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald cut their price target on shares of Cipher Mining from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $7.00 price objective on shares of Cipher Mining in a research report on Friday, November 1st. Ten research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $8.31.

Cipher Mining Trading Up 2.0 %

Shares of CIFR opened at $4.18 on Wednesday. The stock has a market capitalization of $1.45 billion, a P/E ratio of -32.15 and a beta of 2.41. Cipher Mining has a twelve month low of $2.65 and a twelve month high of $7.99. 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 firm has a fifty day simple moving average of $5.35 and a two-hundred day simple moving average of $5.04.

Institutional Trading of Cipher Mining

A number of hedge funds and other institutional investors have recently modified their holdings of CIFR. Nisa Investment Advisors LLC boosted its stake in Cipher Mining by 912.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company’s stock worth $28,000 after acquiring an additional 5,432 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Cipher Mining during the fourth quarter valued at approximately $29,000. Farther Finance Advisors LLC bought a new stake in shares of Cipher Mining in the 3rd quarter worth approximately $33,000. W Advisors LLC purchased a new stake in shares of Cipher Mining in the 3rd quarter worth approximately $45,000. Finally, KBC Group NV purchased a new stake in shares of Cipher Mining in the 4th quarter worth approximately $46,000. 12.26% of the stock is owned by hedge funds and other institutional investors.

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.