Streetbeat News

CIFR

Cipher Mining Inc.

https://www.ciphermining.com

Industry

Financial - Capital Markets

Cipher Mining Inc., a technology company, operates in the bitcoin mining ecosystem in the United States. It engages in developing and growing a cryptocurrency mining business that specializes in bitcoin. The company was incorporated in 2021 and is based in New York, New York.

Open

6.92

Mkt cap

2.5B

Volume

14M

High

7.20

P/E Ratio

-47.73

52-wk high

7.99

Low

6.50

Div yield

N/A

52-wk low

2.15

Cipher Mining (NYSE:CIFR) has seen a decrease in short interest, now at 8.22% of its float, lower than the peer group average of 10.65%. This reduction from 14.06 million shares suggests a shift in market sentiment, potentially indicating a more bullish outlook among investors. The current short interest represents a 19.49% decrease and would take approximately 1.07 days to cover based on recent trading volumes.

Portfolio Pulse from Benzinga Insights

April 26, 2024 | 5:00 pm

Cipher Mining (NASDAQ:CIFR) has received mixed reviews from 11 analysts over the past quarter, with a shift towards more bullish ratings. The average 12-month price target has been adjusted to $5.05, down 15.83% from previous estimates. The company has shown significant financial growth, with a revenue increase of 1329.67% as of December 31, 2023, and outperforms in net margin, ROE, and ROA, while maintaining a low debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 6:00 pm

Needham analyst John Todaro reiterates a Buy rating on Cipher Mining (NASDAQ:CIFR) and maintains a $5 price target.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 2:50 pm

Cipher Mining shares are trading lower due to a decline in Bitcoin's value, reflecting the direct impact of cryptocurrency market fluctuations on the company's stock performance.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 7:41 pm

Shares of crypto-related stocks, including BTDR, COIN, MARA, MSTR, and RIOT, are trading lower due to a decline in Bitcoin's value.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 4:52 pm

JPMorgan's report anticipates the upcoming Bitcoin halving event on April 20 could significantly impact the mining industry, potentially leading to consolidation and business closures. The event is expected to reduce mining rewards by 50%, causing a 30%-40% decline in the industry's gross profits and a 13% decrease in the network hashrate. CleanSpark (NASDAQ:CLSK) is highlighted as well positioned to benefit from the halving, while Cipher Mining (NASDAQ:CIFR) may face challenges due to high overheads and tough hashrate comparisons.

Portfolio Pulse from Khyathi Dalal

April 11, 2024 | 4:50 pm

Today's whale activity in the Information Technology sector shows significant options trading on stocks like NVDA, AMD, MU, MSFT, AAPL, CLSK, PLTR, SMCI, CIFR, and NET. The trades indicate varying sentiments, with bullish calls on NVDA, AMD, MSFT, and SMCI, a neutral stance on AAPL and PLTR, and bearish sentiment on MU, CLSK, CIFR, and NET. The options activity, including both call and put options with varying expiration dates and strike prices, suggests traders are positioning for potential moves in these stocks.

Portfolio Pulse from Benzinga Insights

April 02, 2024 | 5:35 pm

Stryve Foods shares plummeted by 25% due to a significant fourth-quarter revenue miss. Other stocks experienced notable movements, with VivoPower International surging 315% after announcing a merger, and Acorda Therapeutics dropping 83.5% following a Chapter 11 bankruptcy filing. Various companies reported financial results, mergers, and other significant updates affecting their stock prices.

Portfolio Pulse from Avi Kapoor

April 02, 2024 | 5:23 pm

In Tuesday's intraday session, several Information Technology stocks experienced significant movements. Notably, XTI Aerospace (XTIA) surged 81.3%, while CXApp (CXAI) dropped 27.5%. Other notable movers include GSI Technology (GSIT) and Alarum Technologies (ALAR) with significant gains, and OMNIQ (OMQS) and Cipher Mining (CIFR) with notable losses. Some companies, such as Soluna Holdings (SLNH), OMNIQ (OMQS), Duos Technologies Group (DUOT), and Ondas Holdings (ONDS), reported their Q4 earnings, influencing their stock movements.

Portfolio Pulse from Benzinga Insights

April 02, 2024 | 4:30 pm

Cipher Mining Inc (NASDAQ:CIFR) shares fell alongside other bitcoin mining stocks as bitcoin's price dropped. The company reported mining 316 bitcoins last month, increasing its total holdings to 1,741. The decline in stock price is attributed to a decrease in bitcoin value, influenced by lower rate cut expectations from the Federal Reserve and an increase in the 10-year U.S. Treasury yield. Additionally, bitcoin mining rewards are set to halve later this month, a factor historically followed by market rallies.

Portfolio Pulse from Adam Eckert

April 02, 2024 | 1:29 pm

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