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Cipher Mining (CIFR) Receives a Buy from Rosenblatt Securities

Tipranks - Fri Jun 26, 7:00AM CDT

Rosenblatt Securities analyst Chris Brendler reiterated a Buy rating on Cipher Mining today and set a price target of $30.00.

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According to TipRanks, Brendler is a 5-star analyst with an average return of 32.0% and a 52.23% success rate. Brendler covers the Financial sector, focusing on stocks such as TeraWulf Inc, Miami International Holdings, Inc., and Coinbase Global.

In a report released yesterday, BTIG also assigned a Buy rating to the stock with a $35.00 price target.

Based on Cipher Mining’s latest earnings release for the quarter ending March 23, the company reported a quarterly revenue of $34.84 million and a GAAP net loss of $114.32 million. In comparison, last year the company earned a revenue of $48.96 million and had a GAAP net loss of $38.98 million

Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CIFR in relation to earlier this year. Earlier this month, Cary Grossman, a Director at CIFR sold 15,000.00 shares for a total of $441,450.00.

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