According to Fintel reports on June 6, 2023, Compass Point initiated coverage of Cipher Mining (NASDAQ:CIFR) and recommended buying its shares.
The average one-year price target for Cipher Mining as of June 2, 2023, is $3.57, with the low and high estimates at $3.03 and $4.20, respectively. This represents an increase of 49.37% from its latest reported closing price of $2.39.
Cipher Mining is projected to generate annual revenue of $105 million, an increase of 321.39%. Meanwhile, the projected annual non-GAAP EPS is -$0.17.
There are currently 165 funds or institutions reporting positions in the company, with an average portfolio weight of all funds dedicated to CIFR of 0.08%, representing an increase of 0.81%. The put/call ratio of CIFR is 0.90, indicating a bullish outlook.
The top shareholders of Cipher Mining are Vanguard Total Stock Market Index Fund Investor Shares, Van Eck Associates, Geode Capital Management, and Vanguard Information Technology Index Fund Admiral Shares, respectively.
Cipher Mining, Inc. is a Bitcoin mining ecosystem based in the United States.
Key filings for the company are available on relevant platforms.
Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect those of Nasdaq, Inc.
Source: Fintel
