Fintel reports that on September 15, 2023, BTIG initiated coverage of Cipher Mining (NASDAQ:CIFR) with a Buy recommendation.
Analyst Price Forecast Suggests 84.47% Upside
As of August 31, 2023, the average one-year price target for Cipher Mining is 5.20. The forecasts range from a low of 4.54 to a high of $6.30. The average price target represents an increase of 84.47% from its latest reported closing price of 2.82.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cipher Mining is 105MM, an increase of 87.09%. The projected annual non-GAAP EPS is -0.17.
What is the Fund Sentiment?
There are 184 funds or institutions reporting positions in Cipher Mining. This is an increase of 19 owner(s) or 11.52% in the last quarter. Average portfolio weight of all funds dedicated to CIFR is 0.14%, an increase of 82.39%. Total shares owned by institutions increased in the last three months by 44.39% to 20,777K shares. 
The put/call ratio of CIFR is 1.09, indicating a bearish outlook.
What are Other Shareholders Doing?
Geode Capital Management holds 1,407K shares representing 0.56% ownership of the company. In it's prior filing, the firm reported owning 1,067K shares, representing an increase of 24.15%. The firm increased its portfolio allocation in CIFR by 46.44% over the last quarter.
KOMP - SPDR S&P Kensho New Economies Composite ETF holds 1,359K shares representing 0.54% ownership of the company.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,308K shares representing 0.52% ownership of the company. No change in the last quarter.
Van Eck Associates holds 1,147K shares representing 0.46% ownership of the company. In it's prior filing, the firm reported owning 1,079K shares, representing an increase of 6.00%. The firm increased its portfolio allocation in CIFR by 37.52% over the last quarter.
VITAX - Vanguard Information Technology Index Fund Admiral Shares holds 1,054K shares representing 0.42% ownership of the company. In it's prior filing, the firm reported owning 929K shares, representing an increase of 11.84%. The firm increased its portfolio allocation in CIFR by 43.24% over the last quarter.
Cipher Mining Background Information
(This description is provided by the company.)
Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States.
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