Federated Hermes Inc. acquired a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 437,247 shares of the company's stock, valued at approximately $2,029,000. Federated Hermes Inc. owned about 0.13% of Cipher Mining at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of CIFR. Nisa Investment Advisors LLC boosted its holdings in shares of Cipher Mining by 912.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company's stock worth $28,000 after buying an additional 5,432 shares during the period. KBC Group NV bought a new stake in shares of Cipher Mining during the fourth quarter worth approximately $46,000. Apollon Wealth Management LLC acquired a new position in shares of Cipher Mining in the fourth quarter valued at approximately $49,000. FNY Investment Advisers LLC bought a new position in shares of Cipher Mining during the fourth quarter worth approximately $51,000. Finally, Verition Fund Management LLC lifted its holdings in Cipher Mining by 30.7% during the 3rd quarter. Verition Fund Management LLC now owns 13,130 shares of the company's stock worth $51,000 after purchasing an additional 3,086 shares during the last quarter. 12.26% of the stock is currently owned by institutional investors.
Cipher Mining Price Performance
Shares of CIFR stock traded up $0.04 on Friday, hitting $2.37. 5,674,960 shares of the company's stock were exchanged, compared to its average volume of 10,710,634. The company has a 50 day moving average of $3.51 and a 200 day moving average of $4.86. The stock has a market cap of $871.28 million, a P/E ratio of -18.23 and a beta of 2.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $7.99.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on CIFR shares. JPMorgan Chase & Co. cut Cipher Mining from an "overweight" rating to a "neutral" rating in a research report on Thursday, March 13th. Rosenblatt Securities started coverage on shares of Cipher Mining in a research report on Friday, March 7th. They set a "buy" rating and a $6.50 target price on the stock. Cantor Fitzgerald dropped their price target on shares of Cipher Mining from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Needham & Company LLC reduced their price target on Cipher Mining from $7.50 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods initiated coverage on Cipher Mining in a report on Wednesday, January 8th. They issued an "outperform" rating for the company. One research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $8.13.
Read Our Latest Report on CIFR
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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