In a report released on December 18, Josh Siegler from Cantor Fitzgerald assigned a Buy rating to Cipher Mining (CIFR – Research Report), with a price target of $6.00. The company’s shares closed yesterday at $3.59.
Siegler covers the Financial sector, focusing on stocks such as Bitfarms, TeraWulf Inc, and Cleanspark. According to TipRanks, Siegler has an average return of 28.0% and a 54.65% success rate on recommended stocks.
Cipher Mining has an analyst consensus of Strong Buy, with a price target consensus of $5.20.
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Based on Cipher Mining’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $30.3 million and a GAAP net loss of $17.71 million. In comparison, last year the company had a net profit of $59.29 million
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CIFR in relation to earlier this year.
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Cipher Mining (CIFR) Company Description:
Good Works Acquisition Corp is a blank check company.
Read More on CIFR:
- Cipher Mining purchases 7.1 EH/s of Antminer T21 miners
- Cipher Mining Purchases 7.1 EH/s of New Miners and Option to Purchase an Additional 8.7 EH/s of Latest Generation Miners from Bitmain
- Cipher Mining Announces the Closing of its Acquisition of Black Pearl
- Cipher Mining reports 433 bitcoin mined in November
- Cipher Mining Announces November 2023 Operational Update
