Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report)'s share price fell 9.2% on Monday . The company traded as low as $4.96 and last traded at $4.99. 4,313,803 shares were traded during mid-day trading, a decline of 62% from the average session volume of 11,275,271 shares. The stock had previously closed at $5.49.
Analyst Upgrades and Downgrades
Several analysts have issued reports on CIFR shares. Needham & Company LLC decreased their price target on shares of Cipher Mining from $7.50 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday. Northland Securities lifted their target price on Cipher Mining from $6.00 to $8.50 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. HC Wainwright restated a "buy" rating and set a $8.00 price target on shares of Cipher Mining in a research note on Wednesday. JPMorgan Chase & Co. upgraded Cipher Mining from a "neutral" rating to an "overweight" rating and set a $8.00 price objective for the company in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods initiated coverage on Cipher Mining in a report on Wednesday, January 8th. They set an "outperform" rating on the stock. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $8.31.
Read Our Latest Stock Report on Cipher Mining
Cipher Mining Trading Down 1.8 %
The company has a 50 day moving average of $5.35 and a 200 day moving average of $5.04. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -31.57 and a beta of 2.41. 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 Investors Weigh In On Cipher Mining
Institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted 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 purchasing an additional 5,432 shares during the last quarter. NewEdge Advisors LLC bought a new position in shares of Cipher Mining in the fourth quarter valued at approximately $29,000. Farther Finance Advisors LLC bought a new position in shares of Cipher Mining in the third quarter valued at approximately $33,000. W Advisors LLC acquired a new position in shares of Cipher Mining in the 3rd quarter worth approximately $45,000. Finally, KBC Group NV acquired a new position in shares of Cipher Mining in the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 12.26% of the company's stock.
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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