On February 7, 2023, HC Wainwright & Co. upgraded their outlook for Cipher Mining from Neutral to Buy.
Analyst Price Forecast Suggests 9.20% Downside
As of February 8, 2023, the average one-year price target for Cipher Mining is $1.53. The forecasts range from a low of $1.52 to a high of $1.58. The average price target represents a decrease of 9.20% from its latest reported closing price of $1.68.
The projected annual revenue for Cipher Mining is $105MM. The projected annual EPS is $-0.17.
What are large shareholders doing?
CPOAX - Morgan Stanley Insight Fund A holds 3,039,698 shares representing 1.23% ownership of the company. No change in the last quarter.
Point72 Hong Kong holds 2,744,418 shares representing 1.11% ownership of the company. In it's prior filing, the firm reported owning 3,442,830 shares, representing a decrease of 25.45%. The firm decreased its portfolio allocation in CIFR by 30.46% over the last quarter.
MACGX - Discovery Portfolio Shares holds 2,392,437 shares representing 0.97% ownership of the company. No change in the last quarter.
Brighthouse Funds Trust I - Morgan Stanley Discovery Portfolio holds 1,901,166 shares representing 0.77% ownership of the company. No change in the last quarter.
Weiss Multi-Strategy Advisers holds 1,819,919 shares representing 0.74% ownership of the company. In it's prior filing, the firm reported owning 1,831,719 shares, representing a decrease of 0.65%. The firm decreased its portfolio allocation in CIFR by 20.25% over the last quarter.
Fund Sentiment
There are 171 funds or institutions reporting positions in Cipher Mining. This is a decrease of 8 owner(s) or 4.47%.
Average portfolio weight of all funds dedicated to US:CIFR is 0.0887%, a decrease of 1.3286%. Total shares owned by institutions decreased in the last three months by 2.66% to 36,578K shares.
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.
