1 day Ago By ABMN Staff
Shares of Cipher Mining Inc. ( NASDAQ:CIFR – Get Free Report ) rose 6.8% during mid-day trading on Friday .
The company traded as high as $5.18 and last traded at $5.16.
Approximately 1,955,749 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 4,339,396 shares. The stock had previously closed at $4.83.
Analysts Set New Price Targets Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.
00 target price on the stock in a research report on Tuesday, December 10th. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Cipher Mining in a research report on Friday, November 1st.
Northland Capmk upgraded 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 price objective on shares of Cipher Mining in a report on Thursday, October 3rd.
Finally, Northland Securities upped their target price on shares of Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.
Nine research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $8.
03. Get Our Latest Analysis on Cipher Mining Cipher Mining Stock Performance Cipher Mining ( NASDAQ:CIFR – Get Free Report ) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.
26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.18).
The firm had revenue of $24.10 million for the quarter, compared to analyst estimates of $25.84 million.
Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%.
During the same period last year, the company earned ($0.07) EPS. Analysts forecast that Cipher Mining Inc.
will post -0.31 EPS for the current fiscal year. Insider Transactions at Cipher Mining In other Cipher Mining news, major shareholder Top Holdco B.
V. Bitfury sold 1,000,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $6.
22, for a total value of $6,220,000.00. Following the transaction, the insider now owns 99,047,588 shares of the company’s stock, valued at approximately $616,075,997.
36. This represents a 1.00 % decrease in their ownership of the stock.
The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website . Also, COO Patrick Arthur Kelly sold 89,742 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $4.
37, for a total value of $392,172.54. Following the transaction, the chief operating officer now owns 717,431 shares in the company, valued at approximately $3,135,173.
47. This trade represents a 11.12 % decrease in their position.
The disclosure for this sale can be found here . Insiders sold a total of 1,446,623 shares of company stock worth $9,000,561 in the last quarter. 2.
25% of the stock is owned by company insiders. Institutional Trading of Cipher Mining Hedge funds have recently modified their holdings of the company. Amalgamated Bank grew its holdings in Cipher Mining by 321.
8% during the second quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock valued at $25,000 after purchasing an additional 4,557 shares during the period. Farther Finance Advisors LLC bought a new position in shares of Cipher Mining during the third quarter worth $33,000.
Xponance Inc. acquired a new position in shares of Cipher Mining in the 2nd quarter valued at $45,000. W Advisors LLC bought a new stake in shares of Cipher Mining in the 3rd quarter valued at $45,000.
Finally, Prospect Financial Services LLC acquired a new stake in Cipher Mining during the 3rd quarter worth $47,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.
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.
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