Brokerages Set Cipher Mining Inc. (NASDAQ:CIFR) Price Target at $8.14

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) has been given an average rating of "Buy" by the twelve brokerages that are presently covering the stock, Marketbeat reports. Ten investment 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 brokerages that have updated their coverage on the stock in the last year is $8.14.

A number of analysts have recently issued reports on CIFR shares. HC Wainwright restated a "buy" rating and set a $7.00 target price on shares of Cipher Mining in a research note on Friday, November 1st. Macquarie boosted their price objective on Cipher Mining from $6.00 to $7.25 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Cantor Fitzgerald decreased their target price on 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. raised Cipher Mining from a "neutral" rating to an "overweight" rating and set a $8.00 price target for the company in a report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods initiated coverage on Cipher Mining in a report on Wednesday, January 8th. They issued an "outperform" rating on the stock.

Hedge Funds Weigh In On Cipher Mining

Several hedge funds have recently bought and sold shares of CIFR. V3 Holding Ltd acquired a new stake in shares of Cipher Mining during the 4th quarter worth approximately $452,713,000. Lone Pine Capital LLC bought a new stake in Cipher Mining during the fourth quarter worth $10,878,000. Helix Partners Management LP acquired a new stake in shares of Cipher Mining in the 4th quarter valued at $10,426,000. Driehaus Capital Management LLC bought a new position in shares of Cipher Mining in the 4th quarter valued at $9,439,000. Finally, Tidal Investments LLC raised its holdings 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 buying an additional 1,584,874 shares in the last quarter. 12.26% of the stock is owned by institutional investors.

Cipher Mining Stock Performance

Shares of CIFR stock traded down $0.59 during trading on Friday, reaching $5.49. 16,605,560 shares of the company's stock were exchanged, compared to its average volume of 11,534,073. The firm's fifty day moving average price is $5.51 and its 200-day moving average price is $5.01. Cipher Mining has a twelve month low of $2.65 and a twelve month high of $7.99. The stock has a market capitalization of $1.91 billion, a PE ratio of -42.23 and a beta of 2.41. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01.

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.