Cipher Mining (CIFR) Scheduled to Post Earnings on Thursday

Cipher Mining (NASDAQ:CIFR) will release its earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of ($0.06) per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). Cipher Mining had a net margin of 11.43% and a return on equity of 3.41%. The company had revenue of $36.81 million for the quarter, compared to analysts’ expectations of $39.17 million. During the same period last year, the firm posted ($0.05) earnings per share. On average, analysts expect Cipher Mining to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Cipher Mining Price Performance

CIFR opened at $5.39 on Wednesday. The stock has a market cap of $1.67 billion, a P/E ratio of 89.83 and a beta of 2.25. Cipher Mining has a 12 month low of $2.15 and a 12 month high of $7.99. 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 company has a fifty day simple moving average of $3.86 and a 200 day simple moving average of $4.23.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CIFR. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a research report on Thursday, August 29th. Needham & Company LLC raised their target price on shares of Cipher Mining from $5.00 to $7.50 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Compass Point upped their price target on shares of Cipher Mining from $7.50 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Stifel Canada upgraded shares of Cipher Mining to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, Macquarie began coverage on shares of Cipher Mining in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $6.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $7.21.

Insider Transactions at Cipher Mining

In other news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total value of $5,741,358.24. Following the sale, the insider now owns 107,748,228 shares of the company’s stock, valued at $325,399,648.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Patrick Arthur Kelly sold 89,742 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $4.37, for a total transaction of $392,172.54. Following the completion of the transaction, the chief operating officer now directly owns 717,431 shares of the company’s stock, valued at approximately $3,135,173.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total value of $5,741,358.24. Following the completion of the transaction, the insider now owns 107,748,228 shares of the company’s stock, valued at approximately $325,399,648.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,943,078 shares of company stock valued at $23,609,769 in the last ninety days. 2.25% of the stock is currently owned by corporate insiders.

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.