Cipher Mining (NASDAQ:CIFR) Posts Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Cipher Mining (NASDAQ:CIFR) issued its quarterly earnings results on Tuesday. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.16, Zacks reports. Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%.

Cipher Mining Stock Down 9.5 %

Shares of NASDAQ:CIFR opened at $4.97 on Tuesday. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -38.23 and a beta of 2.41. The business has a 50-day moving average price of $5.50 and a 200 day moving average price of $5.04. Cipher Mining has a 12-month low of $2.65 and a 12-month high of $7.99.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods started coverage on Cipher Mining in a research note on Wednesday, January 8th. They set an “outperform” rating on the stock. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Cipher Mining in a research note on Friday, November 1st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a research note on Friday, November 1st. BTIG Research upped their price objective on Cipher Mining from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $7.50 price target on shares of Cipher Mining in a research note on Friday, January 31st. Ten investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Cipher Mining presently has a consensus rating of “Buy” and a consensus target price of $8.14.

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.