Cipher Mining’s (CIFR) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Cipher Mining (NASDAQ:CIFR) in a research report released on Wednesday,Benzinga reports. HC Wainwright currently has a $8.00 price objective on the stock.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 target price for the company in a report on Tuesday, December 10th. Macquarie lifted their price objective on Cipher Mining from $6.00 to $7.25 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and issued a $7.50 target price on shares of Cipher Mining in a research report on Friday, January 31st. Keefe, Bruyette & Woods started coverage on shares of Cipher Mining in a report on Wednesday, January 8th. They set an “outperform” rating on the stock. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $7.00 price objective on shares of Cipher Mining in a report on Friday, November 1st. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $8.31.

Cipher Mining Trading Up 2.0 %

NASDAQ:CIFR opened at $4.18 on Wednesday. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -32.15 and a beta of 2.41. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average price is $5.35 and its 200-day moving average price is $5.04. Cipher Mining has a 52 week low of $2.65 and a 52 week high of $7.99.

Institutional Trading of Cipher Mining

Several large investors have recently added to or reduced their stakes in CIFR. Mackenzie Financial Corp boosted its stake in shares of Cipher Mining by 26.6% during the 4th quarter. Mackenzie Financial Corp now owns 13,095 shares of the company’s stock worth $61,000 after acquiring an additional 2,754 shares during the last quarter. GTS Securities LLC bought a new position in Cipher Mining in the 4th quarter worth $60,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Cipher Mining by 71.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 370,594 shares of the company’s stock valued at $1,720,000 after purchasing an additional 153,921 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in Cipher Mining during the fourth quarter valued at about $5,378,000. Finally, Vennlight Capital Management LP purchased a new stake in Cipher Mining in the fourth quarter worth about $1,370,000. 12.26% of the stock is currently owned by institutional investors.

About Cipher Mining

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.