On July 31, Cipher Mining Inc. rose 5.1% overnight, trading at $23.81/share, with turnover of $290,000.

On the news front, Chardan recently initiated coverage on Cipher Mining Inc. with a Buy rating and a $32 price target. The average analyst target price stands at $32.75, implying significant upside from the current level. Previously, Morgan Stanley, Bernstein, Jefferies, and Macquarie had all assigned Buy or Outperform ratings, with Morgan Stanley holding the highest target at $42.50. Additionally, the company announced participation in upcoming investor and industry conferences, and the next quarterly earnings report is scheduled for release pre-market on August 4, with an expected EPS of -$0.24, fueling market anticipation for a business update.

The stock had previously experienced selling pressure amid broader AI infrastructure sector fund outflows, declining over 5% on July 29. The current rebound reflects improved sentiment supported by the accumulation of bullish analyst coverage and near-term earnings catalysts.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)