Key Takeaways:
- Cipher Mining (CIFR, Financial) reported generating 174 Bitcoin in April, selling 350 as part of its strategy.
- CIFR shares rose by 1.3% following the announcement.
- Analysts suggest a significant upside potential for CIFR, with an average target price of $7.24.
Cipher Mining Inc. (CIFR) recently announced their April production results, revealing the creation of approximately 174 Bitcoin. As part of their treasury management strategy, the company sold around 350 Bitcoin during the same period. Consequently, Cipher Mining's Bitcoin balance stood at approximately 855 Bitcoin at the end of the month. Following this announcement, the market responded positively, pushing CIFR shares up by 1.3% in post-market trading.
Wall Street Analysts' Forecast
In the realm of price targets, 11 analysts have provided one-year forecasts for Cipher Mining Inc. (CIFR, Financial), setting the average target price at $7.24. This projection includes a high estimate of $9.00 and a low of $4.00. Current evaluations suggest an impressive upside of 129.14% from the prevailing stock price of $3.16. For more in-depth data and analysis, visit the Cipher Mining Inc (CIFR) Forecast page.
The consensus from 11 brokerage firms indicates an average recommendation for Cipher Mining Inc. (CIFR, Financial) of 1.9, which translates to an "Outperform" status. The rating scale ranges from 1 to 5, with 1 representing a Strong Buy and 5 signaling a Sell.
