Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $2.65, but opened at $2.33. Cipher Mining shares last traded at $2.40, with a volume of 1,201,926 shares trading hands.
Analyst Ratings Changes
Several brokerages have commented on CIFR. Cantor Fitzgerald cut their target price on Cipher Mining from $11.00 to $10.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Keefe, Bruyette & Woods started coverage on shares of Cipher Mining in a report on Wednesday, January 8th. They issued an "outperform" rating for the company. Canaccord Genuity Group reiterated a "buy" rating and issued a $8.00 price objective on shares of Cipher Mining in a research report on Wednesday, February 26th. Needham & Company LLC decreased their target price 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. Finally, Rosenblatt Securities began coverage on Cipher Mining in a report on Friday, March 7th. They issued a "buy" rating and a $6.50 price target on the stock. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $8.13.
Check Out Our Latest Report on CIFR
Cipher Mining Stock Performance
The company has a market cap of $772.02 million, a P/E ratio of -16.15 and a beta of 2.65. The company's fifty day moving average is $4.18 and its 200 day moving average is $4.97. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its holdings in Cipher Mining by 912.9% during 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 period. NewEdge Advisors LLC purchased a new stake in shares of Cipher Mining during the fourth quarter valued at approximately $29,000. KBC Group NV bought a new position in shares of Cipher Mining in the fourth quarter worth approximately $46,000. Rafferty Asset Management LLC bought a new position in shares of Cipher Mining in the fourth quarter worth approximately $49,000. Finally, Apollon Wealth Management LLC purchased a new position in shares of Cipher Mining in the fourth quarter worth $49,000. 12.26% of the stock is 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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