Northern Trust Corp Has $8.54 Million Stake in Cipher Mining Inc. (NASDAQ:CIFR)

Northern Trust Corp boosted its position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 14.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,839,837 shares of the company's stock after purchasing an additional 228,569 shares during the period. Northern Trust Corp owned about 0.53% of Cipher Mining worth $8,537,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. V3 Holding Ltd bought a new position in shares of Cipher Mining during the 4th quarter valued at approximately $452,713,000. Vanguard Group Inc. increased its position in Cipher Mining by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company's stock valued at $84,318,000 after buying an additional 1,189,756 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Cipher Mining by 16.7% in the fourth quarter. Invesco Ltd. now owns 6,443,723 shares of the company's stock valued at $29,899,000 after purchasing an additional 924,262 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cipher Mining by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 5,727,990 shares of the company's stock valued at $26,583,000 after purchasing an additional 218,137 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Cipher Mining by 33.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,139,553 shares of the company's stock worth $14,568,000 after acquiring an additional 783,509 shares during the period. 12.26% of the stock is owned by hedge funds and other institutional investors.

Cipher Mining Stock Down 2.8%

Shares of CIFR stock traded down $0.10 on Friday, hitting $3.47. The company's stock had a trading volume of 15,830,404 shares, compared to its average volume of 11,945,212. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -26.69 and a beta of 2.61. 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 fifty-two week low of $1.86 and a fifty-two week high of $7.99. The firm's fifty day moving average price is $2.84 and its 200-day moving average price is $4.56.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CIFR shares. Cantor Fitzgerald cut their price target on Cipher Mining from $11.00 to $10.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Needham & Company LLC decreased their price target on Cipher Mining from $7.50 to $7.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. cut Cipher Mining from an "overweight" rating to a "neutral" rating in a research report on Thursday, March 13th. Canaccord Genuity Group restated a "buy" rating and issued a $8.00 price target on shares of Cipher Mining in a research report on Thursday, May 8th. Finally, HC Wainwright restated a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. One equities 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 company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $8.03.

Cipher Mining Company Profile

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.