Cipher Mining (NASDAQ:CIFR - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.16, Zacks reports. Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. The company had revenue of $42.22 million during the quarter, compared to analyst estimates of $41.45 million.
Cipher Mining Trading Up 2.8 %
CIFR stock traded up $0.11 during midday trading on Friday, reaching $4.08. The company's stock had a trading volume of 39,031,536 shares, compared to its average volume of 13,909,815. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -31.38 and a beta of 2.41. Cipher Mining has a 1 year low of $2.65 and a 1 year high of $7.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. The stock has a fifty day simple moving average of $5.31 and a two-hundred day simple moving average of $5.03.
Analysts Set New Price Targets
CIFR has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded Cipher Mining from a "neutral" rating to an "overweight" rating and set a $8.00 price target for the company in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods initiated coverage on shares of Cipher Mining in a research note on Wednesday, January 8th. They set an "outperform" rating on the stock. Needham & Company LLC reduced their price target on shares of Cipher Mining from $7.50 to $7.00 and set a "buy" rating for the company in a research note on Wednesday. HC Wainwright reissued a "buy" rating and set a $8.00 price objective on shares of Cipher Mining in a report on Wednesday. Finally, BTIG Research raised their target price on shares of Cipher Mining from $6.00 to $9.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Ten analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $8.31.
Check Out Our Latest Analysis on Cipher Mining
Cipher Mining Company Profile
(
Get Free Report)
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.
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