CIFR

Cantor Fitzgerald Initiates Coverage of Cipher Mining (CIFR) with Overweight Recommendation

On March 14, 2023, Cantor Fitzgerald initiated coverage of Cipher Mining with a Overweight recommendation.

Analyst Price Forecast Suggests 68.13% Upside

As of March 14, 2023, the average one-year price target for Cipher Mining is $3.06. The forecasts range from a low of $3.03 to a high of $3.15. The average price target represents an increase of 68.13% from its latest reported closing price of $1.82.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Cipher Mining is $105MM. The projected annual non-GAAP EPS is -$0.17.

What are Large Shareholders Doing?

CIFR / Cipher Mining Inc. Shares Held by Institutions

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,308K shares representing 0.53% ownership of the company. No change in the last quarter.

VITAX - Vanguard Information Technology Index Fund Admiral Shares holds 942K shares representing 0.38% ownership of the company. In it's prior filing, the firm reported owning 243K shares, representing an increase of 74.20%. The firm increased its portfolio allocation in CIFR by 56.09% over the last quarter.

Geode Capital Management holds 877K shares representing 0.35% ownership of the company. In it's prior filing, the firm reported owning 917K shares, representing a decrease of 4.62%. The firm decreased its portfolio allocation in CIFR by 60.75% over the last quarter.

IWM - iShares Russell 2000 ETF holds 831K shares representing 0.34% ownership of the company. In it's prior filing, the firm reported owning 796K shares, representing an increase of 4.25%. The firm decreased its portfolio allocation in CIFR by 57.96% over the last quarter.

Renaissance Technologies holds 645K shares representing 0.26% ownership of the company. In it's prior filing, the firm reported owning 35K shares, representing an increase of 94.56%. The firm increased its portfolio allocation in CIFR by 693.47% over the last quarter.

What is the Fund Sentiment?

There are 174 funds or institutions reporting positions in Cipher Mining. This is a decrease of 1 owner(s) or 0.57% in the last quarter. Average portfolio weight of all funds dedicated to CIFR is 0.08%, a decrease of 2.41%. Total shares owned by institutions decreased in the last three months by 58.00% to 15,460K shares. The put/call ratio of CIFR is 0.41, indicating a bullish outlook.

Cipher Mining Background Information
(This description is provided by the company.)

Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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