Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $2.58 and last traded at $2.64, with a volume of 11509404 shares. The stock had previously closed at $3.04.
Wall Street Analyst Weigh In
A number of research firms have issued reports on CIFR. JPMorgan Chase & Co. downgraded shares of Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. HC Wainwright reiterated a "buy" rating and issued a $8.00 price target on shares of Cipher Mining in a research note on Wednesday, February 26th. Canaccord Genuity Group reissued a "buy" rating and set a $8.00 price target on shares of Cipher Mining in a research report on Wednesday, February 26th. Cantor Fitzgerald dropped their price objective on Cipher Mining from $11.00 to $10.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Finally, Rosenblatt Securities assumed coverage on Cipher Mining in a report on Friday, March 7th. They set a "buy" rating and a $6.50 target price on the stock. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $8.13.
Get Our Latest Stock Report on Cipher Mining
Cipher Mining Stock Performance
The company has a 50 day simple moving average of $4.50 and a 200 day simple moving average of $4.99. 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 stock has a market cap of $852.90 million, a price-to-earnings ratio of -17.84 and a beta of 2.47.
Hedge Funds Weigh In On Cipher Mining
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its stake in shares of Cipher Mining by 912.9% in the 4th 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 last quarter. NewEdge Advisors LLC acquired a new position in Cipher Mining in the 4th quarter worth about $29,000. KBC Group NV bought a new position in Cipher Mining in the fourth quarter valued at about $46,000. Apollon Wealth Management LLC acquired a new stake in shares of Cipher Mining during the fourth quarter valued at about $49,000. Finally, Rafferty Asset Management LLC acquired a new position in shares of Cipher Mining in the fourth quarter valued at approximately $49,000. Institutional investors own 12.26% of the company's stock.
Cipher Mining Company Profile
(
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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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