Cipher Mining (NASDAQ:CIFR) Shares Gap Up to $4.27

Shares of Cipher Mining Inc. (NASDAQ:CIFR) gapped up before the market opened on Tuesday . The stock had previously closed at $4.27, but opened at $4.39. Cipher Mining shares last traded at $4.28, with a volume of 500,337 shares changing hands.

Analyst Ratings Changes

CIFR has been the topic of several analyst reports. HC Wainwright raised their price target on shares of Cipher Mining from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of Cipher Mining in a research report on Friday, June 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $6.00 target price (up previously from $5.50) on shares of Cipher Mining in a research report on Wednesday, May 8th. Finally, Cantor Fitzgerald initiated coverage on shares of Cipher Mining in a research report on Tuesday, June 11th. They issued an “overweight” rating and a $9.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Cipher Mining currently has an average rating of “Moderate Buy” and a consensus target price of $6.25.

Cipher Mining Trading Down 0.7 %

The company’s 50 day moving average price is $4.18 and its two-hundred day moving average price is $3.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.08 and a quick ratio of 8.08. The stock has a market capitalization of $1.31 billion, a PE ratio of 70.18 and a beta of 2.28.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.13 earnings per share for the quarter. The firm had revenue of $48.14 million for the quarter, compared to the consensus estimate of $50.05 million. Cipher Mining had a net margin of 13.54% and a return on equity of 4.66%.

Insider Transactions at Cipher Mining

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 466,915 shares of Cipher Mining stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $4.30, for a total transaction of $2,007,734.50. Following the transaction, the insider now directly owns 111,489,712 shares of the company’s stock, valued at $479,405,761.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 4,202,460 shares of company stock valued at $18,467,001. Corporate insiders own 2.25% of the company’s stock.

Hedge Funds Weigh In On Cipher Mining

Institutional investors have recently bought and sold shares of the company. Barclays PLC raised its stake in Cipher Mining by 93.4% during the third quarter. Barclays PLC now owns 15,982 shares of the company’s stock worth $37,000 after purchasing an additional 7,720 shares during the period. Sloy Dahl & Holst LLC purchased a new position in Cipher Mining during the fourth quarter worth about $44,000. Wolverine Asset Management LLC purchased a new stake in shares of Cipher Mining in the 4th quarter valued at approximately $49,000. Bellecapital International Ltd. purchased a new stake in shares of Cipher Mining in the 4th quarter valued at approximately $51,000. Finally, Calamos Advisors LLC purchased a new stake in shares of Cipher Mining in the 4th quarter valued at approximately $52,000. 12.26% of the stock is owned by hedge funds and other institutional investors.

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.