Cipher Mining Inc. Expected to Earn Q3 2024 Earnings of ($0.06) Per Share (NASDAQ:CIFR)

Cipher Mining Inc. (NASDAQ:CIFR) – Equities research analysts at Northland Capmk issued their Q3 2024 earnings per share (EPS) estimates for shares of Cipher Mining in a report released on Wednesday, September 25th. Northland Capmk analyst M. Grondahl expects that the company will post earnings of ($0.06) per share for the quarter. Northland Capmk currently 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.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) 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 business had revenue of $36.81 million during the quarter, compared to the consensus estimate of $39.17 million. During the same quarter in the previous year, the company posted ($0.05) EPS.

CIFR has been the topic of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 target price on shares of Cipher Mining in a research note on Tuesday, September 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price objective on shares of Cipher Mining in a research note on Thursday, August 29th. Needham & Company LLC boosted their target price on shares of Cipher Mining from $5.00 to $7.50 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Stifel Canada upgraded shares of Cipher Mining to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, Northland Securities assumed coverage on shares of Cipher Mining in a report on Wednesday, September 25th. They set an “outperform” rating and a $6.00 price target for the company. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Cipher Mining has a consensus rating of “Buy” and a consensus price target of $7.21.

Cipher Mining Stock Down 7.5 %

Shares of NASDAQ CIFR opened at $3.58 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.49 and a quick ratio of 8.49. The firm’s 50-day moving average is $3.88 and its two-hundred day moving average is $4.22. Cipher Mining has a 12-month low of $2.15 and a 12-month high of $7.99. The company has a market capitalization of $1.11 billion, a PE ratio of 59.67 and a beta of 2.24.

Insider Activity

In related news, 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 sale, the insider now directly owns 107,748,228 shares of the company’s stock, valued at $325,399,648.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $3.02, for a total transaction of $5,741,358.24. Following the completion of the sale, the insider now owns 107,748,228 shares of the company’s stock, valued at $325,399,648.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William Iwaschuk sold 150,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was 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 $2,439,443.12. The disclosure for this sale can be found here. Insiders sold a total of 6,462,980 shares of company stock valued at $20,795,679 in the last 90 days. 2.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cipher Mining

Institutional investors have recently bought and sold shares of the business. Amalgamated Bank raised its stake in shares of Cipher Mining by 321.8% in the 2nd quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock valued at $25,000 after acquiring an additional 4,557 shares during the period. Janney Montgomery Scott LLC purchased a new position in Cipher Mining in the first quarter valued at about $52,000. Xponance Inc. acquired a new position in shares of Cipher Mining during the second quarter worth about $45,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Cipher Mining in the first quarter worth about $59,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Cipher Mining in the first quarter worth about $74,000. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

About Cipher Mining

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.