Cipher Mining (NASDAQ:CIFR) Now Covered by Rosenblatt Securities

Rosenblatt Securities started coverage on shares of Cipher Mining (NASDAQ:CIFR - Get Free Report) in a note issued to investors on Friday, MarketBeat Ratings reports. The firm set a "buy" rating and a $6.50 price target on the stock. Rosenblatt Securities' target price indicates a potential upside of 104.40% from the stock's previous close.

A number of other research firms have also issued reports on CIFR. HC Wainwright reiterated a "buy" rating and issued a $8.00 target price on shares of Cipher Mining in a research note on Wednesday, February 26th. Keefe, Bruyette & Woods started coverage on shares of Cipher Mining in a research note on Wednesday, January 8th. They issued an "outperform" rating for the company. Cantor Fitzgerald dropped their price target on shares of Cipher Mining from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. BTIG Research upped their price objective on shares of Cipher Mining from $6.00 to $9.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Finally, Needham & Company LLC cut their price target on Cipher Mining from $7.50 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Eleven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $8.13.

Remove Ads

Cipher Mining Stock Up 3.2 %

Shares of NASDAQ:CIFR traded up $0.10 during midday trading on Friday, hitting $3.18. 13,484,765 shares of the company's stock traded hands, compared to its average volume of 14,068,562. Cipher Mining has a twelve month low of $2.65 and a twelve month high of $7.99. The company has a market cap of $1.17 billion, a PE ratio of -24.46 and a beta of 2.47. 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 firm's fifty day moving average price is $5.11 and its two-hundred day moving average price is $5.04.

Institutional Trading of Cipher Mining

Large investors have recently modified their holdings of the company. V3 Holding Ltd bought a new position in Cipher Mining in the 4th quarter worth approximately $452,713,000. Lone Pine Capital LLC acquired a new position in shares of Cipher Mining during the fourth quarter valued at $10,878,000. Helix Partners Management LP bought a new stake in shares of Cipher Mining during the fourth quarter valued at about $10,426,000. Driehaus Capital Management LLC acquired a new stake in Cipher Mining in the fourth quarter worth about $9,439,000. Finally, Tidal Investments LLC grew its position in Cipher Mining by 73.4% in the 3rd quarter. Tidal Investments LLC now owns 3,742,931 shares of the company's stock valued at $14,485,000 after buying an additional 1,584,874 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company's stock.

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.