Brevan Howard Capital Management LP Sells 270,274 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Brevan Howard Capital Management LP decreased its holdings in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 73.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,939 shares of the company's stock after selling 270,274 shares during the quarter. Brevan Howard Capital Management LP's holdings in Cipher Mining were worth $464,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CIFR. Nisa Investment Advisors LLC raised its position in shares of Cipher Mining by 912.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company's stock valued at $28,000 after buying an additional 5,432 shares in the last quarter. NewEdge Advisors LLC bought a new position in Cipher Mining during the 4th quarter worth $29,000. KBC Group NV acquired a new position in Cipher Mining in the 4th quarter valued at $46,000. Apollon Wealth Management LLC bought a new stake in shares of Cipher Mining during the 4th quarter valued at $49,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Cipher Mining during the 4th quarter worth $51,000. Institutional investors own 12.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CIFR shares. Needham & Company LLC reduced their price objective on shares of Cipher Mining from $7.50 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Rosenblatt Securities restated a "buy" rating and set a $5.50 price objective on shares of Cipher Mining in a research report on Wednesday, May 7th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $8.00 target price on shares of Cipher Mining in a report on Thursday, May 8th. JPMorgan Chase & Co. cut Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Cipher Mining in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $8.03.

Cipher Mining Trading Up 8.9%

NASDAQ CIFR traded up $0.28 during trading hours on Tuesday, reaching $3.43. The company's stock had a trading volume of 15,889,835 shares, compared to its average volume of 11,341,664. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $7.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57. The stock has a market cap of $1.27 billion, a P/E ratio of -26.38 and a beta of 2.61. The firm has a fifty day simple moving average of $2.78 and a 200-day simple moving average of $4.68.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). The company had revenue of $48.96 million for the quarter, compared to analysts' expectations of $53.57 million. Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. Equities analysts forecast that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.

About Cipher Mining

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.