Q3 2024 Earnings Estimate for Cipher Mining Inc. (NASDAQ:CIFR) Issued By Northland Capmk

Cipher Mining Inc. (NASDAQ:CIFR) – Research analysts at Northland Capmk issued their Q3 2024 earnings per share (EPS) estimates for Cipher Mining in a research report issued 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.

A number of other research analysts have also recently commented on CIFR. Stifel Canada upgraded Cipher Mining to a “strong-buy” rating in a research note on Tuesday, August 6th. Compass Point raised their target price on Cipher Mining from $7.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 target price on shares of Cipher Mining in a research report on Tuesday, September 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 target price on shares of Cipher Mining in a research report on Thursday, August 29th. Finally, Northland Securities assumed coverage on Cipher Mining in a research report on Wednesday, September 25th. They set an “outperform” rating and a $6.00 target price for the company. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $7.21.

Cipher Mining Stock Down 0.7 %

Shares of CIFR opened at $4.11 on Monday. Cipher Mining has a 52 week low of $2.15 and a 52 week high of $7.99. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 68.50 and a beta of 2.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.49 and a current ratio of 8.49. The stock has a fifty day moving average of $3.93 and a 200-day moving average of $4.21.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate 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 analysts’ expectations of $39.17 million. During the same period in the prior year, the company earned ($0.05) earnings per share.

Insider Buying and Selling

In related news, insider William Iwaschuk sold 150,000 shares of Cipher Mining stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total value of $591,000.00. Following the sale, the insider now owns 619,148 shares of the company’s stock, valued at approximately $2,439,443.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of Cipher Mining stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $2.87, for a total value of $5,456,191.44. Following the completion of the transaction, the insider now directly owns 102,044,892 shares in the company, valued at approximately $292,868,840.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 owns 619,148 shares of the company’s stock, valued at $2,439,443.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,462,980 shares of company stock valued at $20,795,679. 2.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Millennium Management LLC grew its position in Cipher Mining by 122.8% in the second 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 in the last quarter. First Financial Bankshares Inc purchased a new position in Cipher Mining in the fourth quarter worth $9,901,000. Vanguard Group Inc. grew its position in Cipher Mining by 62.0% in the first quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock worth $29,134,000 after acquiring an additional 2,164,383 shares in the last quarter. Vident Advisory LLC grew its position in Cipher Mining by 94.9% in the first quarter. Vident Advisory LLC now owns 2,240,261 shares of the company’s stock worth $11,537,000 after acquiring an additional 1,090,811 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Cipher Mining by 38.9% in the first quarter. Van ECK Associates Corp now owns 2,733,743 shares of the company’s stock worth $14,079,000 after acquiring an additional 765,238 shares in the last quarter. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Cipher Mining Company Profile

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.