Invesco Ltd. lifted its stake in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 16.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,443,723 shares of the company's stock after purchasing an additional 924,262 shares during the quarter. Invesco Ltd. owned 1.85% of Cipher Mining worth $29,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Cipher Mining by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company's stock worth $84,318,000 after acquiring an additional 1,189,756 shares during the last quarter. State Street Corp grew its stake in Cipher Mining by 17.3% in the third quarter. State Street Corp now owns 6,919,189 shares of the company's stock valued at $26,777,000 after purchasing an additional 1,019,949 shares in the last quarter. Geode Capital Management LLC increased its position in Cipher Mining by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 5,727,990 shares of the company's stock worth $26,583,000 after purchasing an additional 218,137 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Cipher Mining by 73.4% during the 3rd quarter. Tidal Investments LLC now owns 3,742,931 shares of the company's stock worth $14,485,000 after purchasing an additional 1,584,874 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Cipher Mining by 33.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,139,553 shares of the company's stock valued at $14,568,000 after buying an additional 783,509 shares during the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.
Cipher Mining Stock Performance
Cipher Mining stock traded up $0.18 during mid-day trading on Wednesday, reaching $2.92. The company had a trading volume of 4,106,788 shares, compared to its average volume of 10,766,506. The company has a 50 day moving average of $3.31 and a 200-day moving average of $4.84. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $7.99. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -22.46 and a beta of 2.65.
Wall Street Analyst Weigh In
Several brokerages have recently commented on CIFR. Keefe, Bruyette & Woods assumed coverage on shares of Cipher Mining in a research note on Wednesday, January 8th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. cut shares of Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. Needham & Company LLC cut their target price on Cipher Mining from $7.50 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. HC Wainwright reiterated a "buy" rating and set a $8.00 price target on shares of Cipher Mining in a research note on Wednesday, February 26th. Finally, Cantor Fitzgerald cut their price objective on Cipher Mining from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $8.13.
Read Our Latest Stock Analysis on Cipher Mining
About Cipher Mining
(
Free Report)
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.
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