DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Reduces Position in Cipher Mining Inc. (NASDAQ:CIFR)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lessened its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 24.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 264,547 shares of the company's stock after selling 86,161 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned approximately 0.08% of Cipher Mining worth $1,227,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CIFR. Nisa Investment Advisors LLC boosted its stake in shares of Cipher Mining by 912.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company's stock valued at $28,000 after purchasing an additional 5,432 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of Cipher Mining during the fourth quarter valued at approximately $29,000. KBC Group NV purchased a new stake in shares of Cipher Mining during the fourth quarter valued at approximately $46,000. Apollon Wealth Management LLC purchased a new stake in shares of Cipher Mining during the fourth quarter valued at approximately $49,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Cipher Mining during the fourth quarter valued at approximately $51,000. Hedge funds and other institutional investors own 12.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CIFR. Canaccord Genuity Group restated a "buy" rating and set a $8.00 target price on shares of Cipher Mining in a report on Thursday, May 8th. Rosenblatt Securities restated a "buy" rating and set a $5.50 target price on shares of Cipher Mining in a report on Wednesday, May 7th. Needham & Company LLC decreased their price objective on Cipher Mining from $7.50 to $7.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. HC Wainwright reiterated a "buy" rating on shares of Cipher Mining in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. downgraded Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $8.03.

Cipher Mining Stock Down 4.2%

Shares of NASDAQ CIFR traded down $0.14 during trading on Thursday, reaching $3.17. The company had a trading volume of 22,205,107 shares, compared to its average volume of 11,426,898. Cipher Mining Inc. has a 12-month low of $1.86 and a 12-month high of $7.99. The stock has a market cap of $1.18 billion, a PE ratio of -24.38 and a beta of 2.61. The business's 50-day moving average is $2.77 and its 200 day moving average is $4.66. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, hitting analysts' consensus estimates of ($0.11). Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. The firm had revenue of $48.96 million for the quarter, compared to analysts' expectations of $53.57 million. As a group, 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.