Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) traded up 8.5% during trading on Wednesday . The company traded as high as $3.05 and last traded at $3.12. 7,756,403 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 10,409,648 shares. The stock had previously closed at $2.87.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Cantor Fitzgerald dropped their target price on Cipher Mining from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Northland Securities boosted their price target on Cipher Mining from $6.00 to $8.50 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Rosenblatt Securities assumed coverage on Cipher Mining in a report on Friday, March 7th. They issued a "buy" rating and a $6.50 price target for the company. Needham & Company LLC lowered their price target on Cipher Mining from $7.50 to $7.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $8.00 price objective on shares of Cipher Mining in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $8.13.
Get Our Latest Research Report on Cipher Mining
Cipher Mining Trading Down 2.7 %
The business's 50-day simple moving average is $4.74 and its two-hundred day simple moving average is $5.00. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -22.46 and a beta of 2.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57.
Institutional Trading of Cipher Mining
Institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its holdings in Cipher Mining by 912.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company's stock worth $28,000 after acquiring an additional 5,432 shares during the period. NewEdge Advisors LLC acquired a new position in shares of Cipher Mining during the fourth quarter worth $29,000. KBC Group NV purchased a new position in shares of Cipher Mining in the fourth quarter valued at $46,000. Apollon Wealth Management LLC purchased a new position in shares of Cipher Mining in the fourth quarter valued at $49,000. Finally, Rafferty Asset Management LLC acquired a new stake in Cipher Mining during the 4th quarter valued at $49,000. 12.26% of the stock is owned by hedge funds and other 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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