Cipher Mining (NASDAQ:CIFR) Stock Rating Lowered by JPMorgan Chase & Co.

Cipher Mining (NASDAQ:CIFR) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Thursday, Marketbeat Ratings reports.

A number of other research analysts have also commented on CIFR. Cantor Fitzgerald lowered their price target on Cipher Mining from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. 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 research report on Wednesday, February 26th. Northland Securities upped their price target on Cipher Mining from $6.00 to $8.50 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of Cipher Mining in a research report on Wednesday, February 26th. Finally, Rosenblatt Securities assumed coverage on Cipher Mining in a research report on Friday, March 7th. They issued a “buy” rating and a $6.50 target price for the company. One investment 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 data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $8.13.

Cipher Mining Trading Up 0.3 %

CIFR opened at $3.04 on Thursday. The business has a 50 day simple moving average of $4.96 and a two-hundred day simple moving average of $5.00. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -23.38 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. Cipher Mining has a one year low of $2.65 and a one year high of $7.99.

Institutional Trading of Cipher Mining

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp grew its stake in shares of Cipher Mining by 26.6% in the 4th quarter. Mackenzie Financial Corp now owns 13,095 shares of the company’s stock worth $61,000 after buying an additional 2,754 shares during the last quarter. GTS Securities LLC purchased a new stake in shares of Cipher Mining in the 4th quarter worth approximately $60,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cipher Mining by 71.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 370,594 shares of the company’s stock worth $1,720,000 after buying an additional 153,921 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Cipher Mining in the 4th quarter worth approximately $5,378,000. Finally, Vennlight Capital Management LP purchased a new stake in shares of Cipher Mining in the 4th quarter worth approximately $1,370,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

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.