Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report)'s stock price traded down 1.8% during trading on Friday . The stock traded as low as $2.96 and last traded at $2.98. 2,399,592 shares were traded during mid-day trading, a decline of 82% from the average session volume of 13,687,311 shares. The stock had previously closed at $3.03.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of Cipher Mining from an "overweight" rating to a "neutral" rating in a research report on Thursday, March 13th. Rosenblatt Securities started coverage on shares of Cipher Mining in a research report on Friday, March 7th. They set a "buy" rating and a $6.50 price target for the company. HC Wainwright reissued a "buy" rating and set a $8.00 price target on shares of Cipher Mining in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods started coverage on shares of Cipher Mining in a research report on Wednesday, January 8th. They set an "outperform" rating for the company. Finally, 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. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $8.13.
Read Our Latest Report on Cipher Mining
Cipher Mining Stock Performance
The firm has a market capitalization of $1.06 billion, a P/E ratio of -22.08 and a beta of 2.47. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. The business's 50 day simple moving average is $4.86 and its two-hundred day simple moving average is $5.02.
Institutional Trading of Cipher Mining
A number of institutional investors and hedge funds have recently bought and sold shares of the company. V3 Holding Ltd bought a new stake in shares of Cipher Mining in the fourth quarter worth approximately $452,713,000. Lone Pine Capital LLC bought a new stake in shares of Cipher Mining in the fourth quarter worth approximately $10,878,000. Helix Partners Management LP bought a new stake in shares of Cipher Mining in the fourth quarter worth approximately $10,426,000. Driehaus Capital Management LLC bought a new stake in shares of Cipher Mining in the fourth quarter worth approximately $9,439,000. Finally, Tidal Investments LLC grew its stake in shares of Cipher Mining by 73.4% in the third quarter. Tidal Investments LLC now owns 3,742,931 shares of the company's stock worth $14,485,000 after acquiring an additional 1,584,874 shares during the period. 12.26% of the stock is currently owned by institutional investors.
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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