BTIG analyst Gregory Lewis maintained a Buy rating on Cipher Mining (CIFR – Research Report) on December 28 and set a price target of $6.00. The company’s shares closed last Friday at $4.13.
Lewis covers the Energy sector, focusing on stocks such as Frontline, TechnipFMC, and Golar LNG. According to TipRanks, Lewis has an average return of -1.2% and a 47.42% success rate on recommended stocks.
Currently, the analyst consensus on Cipher Mining is a Strong Buy with an average price target of $5.20, representing a 25.91% upside. In a report released on December 18, Cantor Fitzgerald also assigned a Buy rating to the stock with a $6.00 price target.
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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:
- Unusually active option classes on open December 28th
- Cipher Mining call volume above normal and directionally bullish
- Unusually active option classes on open December 26th
- 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
