The difference in Cipher Mining (NASDAQ:CIFR) stock is $4.99

Cipher Mining Inc. Shares (NASDAQ:CIFR – Get Free Report) rose ahead of Friday’s market open. The stock had previously closed at $4.99 but opened at $5.10. Cipher Mining stock last traded at $5.10 on volume of 2,226,237 shares.

Analyst Upgrades and Downgrades

Many stock research analysts have recently published reports on the company. Cantor Fitzgerald addressed the topic of cipher mining in a research note on Tuesday, June 11. They gave the company an “overweight” rating and a $9.00 price target. HC Wainwright increased their price target on Cipher Mining from $5.50 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, June 6. In a report on Wednesday, May 8, Canaccord Genuity Group maintained a “buy” rating and set a price target on shares of Cipher Mining of $6.00 (up from $5.50). Ultimately, Needham & Company LLC reissued a “buy” rating and set a $5.00 price target on shares of Cipher Mining in a research report on Friday, June 7. One analyst rated the company’s shares with a hold rating, and five of them gave the company’s shares a buy rating. According to MarketBeat data, the average rating for the stock is “Moderate Buy” and the consensus price target is $6.25.

Download our latest report on CIFR

Cipher mining resource efficiency

The company’s 50-day moving average price is $4.05 and its 200-day moving average price is $3.70. The company has a current ratio of 8.08, a quick ratio of 8.08 and a debt to equity ratio of 0.02. The market value of the company’s shares is $1.53 billion, the PE ratio is 82.51 and the beta is 2.28.

Cipher Mining (NASDAQ:CIFR – Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter. Cipher Mining had a net margin of 13.54% and a return on equity of 4.66%. The company’s revenue for the quarter was $48.14 million, compared to the consensus estimate of $50.05 million.

Insiders place their bets

In other Cipher Mining news, Top Holdco BV major shareholder Bitfury sold 336,377 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $4.58, for a total transaction amount of $1,540,606.66. Following the sale, the insider now owns 115,145,728 shares of the company’s stock, valued at approximately $527,367,434.24. The transaction was disclosed in a legal filing filed with the SEC, which can be accessed through the SEC’s website. In the last quarter, insiders sold 2,154,996 shares of company stock worth $8,708,673. Insiders own 2.25% of the company’s shares.

Institutional trading in cipher mining

Several institutional investors and hedge funds have recently bought and sold shares of CIFR. First Financial Bankshares Inc acquired a new stake in Cipher Mining during the 4th quarter worth approximately $9,901,000. In the first quarter, Vanguard Group Inc. increased its stake in Cipher Mining shares by 62.0%. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock valued at $29,134,000 after purchasing an additional 2,164,383 shares during the period. Vident Advisory LLC increased its exposure to shares of Cipher Mining by 94.9% during the first quarter. Vident Advisory LLC now owns 2,240,261 shares of the company’s stock valued at $11,537,000 after purchasing an additional 1,090,811 shares during the period. Van ECK Associates Corp grew 38.9% in its Cipher Mining segment in the first quarter. Van ECK Associates Corp now owns 2,733,743 shares of the company’s stock valued at $14,079,000 after purchasing an additional 765,238 shares in the last quarter. Finally, Shariaportfolio Inc. acquired a new stake in shares of Cipher Mining during the fourth quarter worth approximately $2,460,000. Currently, 12.26% of the shares are held by institutional investors and hedge funds.

About extracting ciphers

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Cipher Mining Inc, together with its subsidiaries, develops and operates industrial-scale bitcoin mining data centers in the United States. The company was founded in 2020 and is headquartered in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding BV

Analyst Upgrades and Downgrades

Cipher mining resource efficiency

Insiders place their bets

Institutional trading in cipher mining

About extracting ciphers

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