Northland Capmk Weighs in on Cipher Mining Inc.’s Q3 2024 Earnings (NASDAQ:CIFR)

by · The Markets Daily

Cipher Mining Inc. (NASDAQ:CIFR – Free Report) – Analysts at Northland Capmk issued their Q3 2024 EPS estimates for shares of Cipher Mining in a research note issued to investors on Wednesday, September 25th. Northland Capmk analyst M. Grondahl anticipates that the company will earn ($0.06) per share for the quarter. Northland Capmk has a “Strong-Buy” rating on the stock. The consensus estimate for Cipher Mining’s current full-year earnings is ($0.05) per share. Northland Capmk also issued estimates for Cipher Mining’s Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.03) EPS, Q1 2025 earnings at ($0.04) EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at $0.00 EPS, Q4 2025 earnings at $0.00 EPS and FY2025 earnings at ($0.05) EPS.

Cipher Mining (NASDAQ:CIFR – Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). Cipher Mining had a return on equity of 3.41% and a net margin of 11.43%. The firm had revenue of $36.81 million during the quarter, compared to the consensus estimate of $39.17 million. During the same quarter in the prior year, the business posted ($0.05) earnings per share.

Several other analysts have also recently issued reports on CIFR. Macquarie began coverage on shares of Cipher Mining in a report on Tuesday, September 24th. They issued an “outperform” rating and a $6.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 target price on shares of Cipher Mining in a research note on Tuesday, September 3rd. Stifel Canada upgraded Cipher Mining to a “strong-buy” rating in a research note on Tuesday, August 6th. Northland Securities initiated coverage on Cipher Mining in a report on Wednesday, September 25th. They issued an “outperform” rating and a $6.00 price objective for the company. Finally, HC Wainwright increased their target price on Cipher Mining from $5.50 to $6.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cipher Mining presently has an average rating of “Buy” and an average price target of $7.21.

View Our Latest Report on Cipher Mining

Cipher Mining Stock Performance

Shares of CIFR opened at $3.58 on Monday. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 59.67 and a beta of 2.24. The company has a quick ratio of 8.49, a current ratio of 8.49 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $3.88 and its two-hundred day moving average is $4.22. Cipher Mining has a 52-week low of $2.15 and a 52-week high of $7.99.

Insiders Place Their Bets

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of Cipher Mining stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $2.74, for a total value of $5,209,046.88. Following the completion of the transaction, the insider now directly owns 103,946,004 shares in the company, valued at $284,812,050.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $2.74, for a total value of $5,209,046.88. Following the sale, the insider now directly owns 103,946,004 shares in the company, valued at $284,812,050.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Iwaschuk sold 150,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total transaction of $591,000.00. Following the transaction, the insider now directly owns 619,148 shares of the company’s stock, valued at approximately $2,439,443.12. The disclosure for this sale can be found here. Insiders have sold 6,462,980 shares of company stock valued at $20,795,679 over the last quarter. Insiders own 2.25% of the company’s stock.

Institutional Investors Weigh In On Cipher Mining

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Cipher Mining by 62.0% during the first quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock worth $29,134,000 after buying an additional 2,164,383 shares during the period. Millennium Management LLC boosted its position in Cipher Mining by 122.8% during the 2nd quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock worth $22,123,000 after acquiring an additional 2,938,184 shares during the period. Van ECK Associates Corp grew its stake in shares of Cipher Mining by 0.8% in the second quarter. Van ECK Associates Corp now owns 2,755,829 shares of the company’s stock worth $11,437,000 after purchasing an additional 22,086 shares in the last quarter. First Financial Bankshares Inc acquired a new position in shares of Cipher Mining during the fourth quarter valued at $9,901,000. Finally, Vident Advisory LLC raised its stake in 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 in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

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.V.

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