Shares of Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $2.18 and last traded at $2.30, with a volume of 6787813 shares trading hands. The stock had previously closed at $2.32.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $8.00 price objective on shares of Cipher Mining in a research note on Wednesday, February 26th. 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 report on Tuesday, February 4th. Keefe, Bruyette & Woods initiated coverage on shares of Cipher Mining in a research note on Wednesday, January 8th. They issued an "outperform" rating on the stock. Rosenblatt Securities assumed coverage on shares of Cipher Mining in a research note on Friday, March 7th. They set a "buy" rating and a $6.50 target price for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $8.00 price target on shares of Cipher Mining in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $8.13.
View Our Latest Research Report on Cipher Mining
Cipher Mining Stock Down 9.1 %
The stock has a market cap of $772.02 million, a price-to-earnings ratio of -16.15 and a beta of 2.65. The firm's fifty day moving average price is $4.18 and its two-hundred day moving average price is $4.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57.
Institutional Trading of Cipher Mining
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CIFR. Nisa Investment Advisors LLC grew its stake in Cipher Mining by 912.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company's stock valued at $28,000 after acquiring an additional 5,432 shares during the period. NewEdge Advisors LLC bought a new position in shares of Cipher Mining in the 4th quarter worth $29,000. KBC Group NV acquired a new stake in Cipher Mining in the 4th quarter valued at $46,000. Apollon Wealth Management LLC bought a new stake in Cipher Mining during the 4th quarter valued at $49,000. Finally, Rafferty Asset Management LLC acquired a new position in Cipher Mining during the fourth quarter worth $49,000. 12.26% of the stock is owned by institutional investors.
About Cipher Mining
(
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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