Cipher Mining (CIFR) Scheduled to Post Earnings on Thursday

Cipher Mining (NASDAQ:CIFR - Get Free Report) is set to issue its quarterly earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of ($0.06) per share for the quarter. Investors interested in registering for the company's conference call can do so using this link.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, meeting analysts' consensus estimates of ($0.05). The company had revenue of $36.81 million during the quarter, compared to analysts' expectations of $39.17 million. Cipher Mining had a return on equity of 3.41% and a net margin of 11.43%. During the same period last year, the business posted ($0.05) EPS. On average, analysts expect Cipher Mining to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Cipher Mining Stock Up 8.4 %

Shares of CIFR traded up $0.43 during mid-day trading on Thursday, hitting $5.59. 10,115,233 shares of the company's stock were exchanged, compared to its average volume of 9,078,824. The stock's 50-day moving average is $3.80 and its 200-day moving average is $4.21. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.49 and a current ratio of 8.49. Cipher Mining has a fifty-two week low of $2.15 and a fifty-two week high of $7.99. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 93.08 and a beta of 2.25.

Analysts Set New Price Targets

Several brokerages have commented on CIFR. Northland Capmk raised shares of Cipher Mining to a "strong-buy" rating in a research report on Wednesday, September 25th. Cantor Fitzgerald reissued an "overweight" rating and set a $9.00 target price on shares of Cipher Mining in a research note on Thursday, October 3rd. Macquarie began coverage on Cipher Mining in a report on Tuesday, September 24th. They set an "outperform" rating and a $6.00 price target on the stock. Northland Securities assumed coverage on Cipher Mining in a research note on Wednesday, September 25th. They issued an "outperform" rating and a $6.00 price objective for the company. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $7.00 price objective on shares of Cipher Mining in a research report on Thursday, August 29th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $7.21.

Insider Buying and Selling

In related news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of Cipher Mining stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total value of $5,741,358.24. Following the completion of the transaction, the insider now owns 107,748,228 shares in the company, valued at $325,399,648.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total transaction of $5,741,358.24. Following the completion of the sale, the insider now owns 107,748,228 shares in the company, valued at approximately $325,399,648.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Patrick Arthur Kelly sold 89,742 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $4.37, for a total transaction of $392,172.54. Following the sale, the chief operating officer now owns 717,431 shares of the company's stock, valued at $3,135,173.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,943,078 shares of company stock worth $17,389,769 over the last 90 days. 2.25% of the stock is owned by insiders.

Cipher Mining Company Profile

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.