Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) fell 4.2% during mid-day trading on Tuesday . The stock traded as low as $3.05 and last traded at $3.07. 1,039,988 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 10,432,114 shares. The stock had previously closed at $3.20.
Analysts Set New Price Targets
Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods started coverage on shares of Cipher Mining in a report on Wednesday, January 8th. They set an "outperform" rating on the stock. Northland Securities raised their price target on shares of Cipher Mining from $6.00 to $8.50 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. lowered Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. HC Wainwright restated a "buy" rating and issued a $8.00 target price on shares of Cipher Mining in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $8.00 target price 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 given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Cipher Mining currently has a consensus rating of "Buy" and an average price target of $8.13.
Check Out Our Latest Research Report on CIFR
Cipher Mining Stock Down 1.1 %
The company has a market capitalization of $843.71 million, a PE ratio of -17.58 and a beta of 2.47. The stock's fifty day moving average is $4.50 and its two-hundred day moving average is $5.00. 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
Institutional investors and hedge funds have recently modified their holdings of the stock. V3 Holding Ltd purchased a new position in Cipher Mining in the fourth quarter valued at approximately $452,713,000. Lone Pine Capital LLC bought a new stake in shares of Cipher Mining in the fourth quarter valued at $10,878,000. Helix Partners Management LP purchased a new position in shares of Cipher Mining during the 4th quarter valued at $10,426,000. Driehaus Capital Management LLC purchased a new position in shares of Cipher Mining during the 4th quarter valued at $9,439,000. Finally, Tidal Investments LLC grew its stake in shares of Cipher Mining by 73.4% during the 3rd 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 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.
Further Reading
Before you consider Cipher Mining, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cipher Mining wasn't on the list.
While Cipher Mining currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
