D. E. Shaw & Co. Inc. Takes $4.19 Million Position in Cipher Mining Inc. (NASDAQ:CIFR)

D. E. Shaw & Co. Inc. acquired a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 903,197 shares of the company's stock, valued at approximately $4,191,000. D. E. Shaw & Co. Inc. owned 0.26% of Cipher Mining as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CIFR. Driehaus Capital Management LLC acquired a new stake in Cipher Mining during the 4th quarter worth about $9,439,000. Captrust Financial Advisors acquired a new position in shares of Cipher Mining in the 4th quarter valued at about $54,000. Bank of America Corp DE boosted its position in shares of Cipher Mining by 47.3% during the 4th quarter. Bank of America Corp DE now owns 182,898 shares of the company's stock valued at $849,000 after purchasing an additional 58,742 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Cipher Mining during the fourth quarter worth approximately $118,000. Finally, Ameriprise Financial Inc. bought a new stake in Cipher Mining in the fourth quarter worth approximately $137,000. Institutional investors own 12.26% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Canaccord Genuity Group restated a "buy" rating and set a $8.00 price target on shares of Cipher Mining in a report on Thursday, May 8th. Needham & Company LLC cut their target price 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 reaffirmed a "buy" rating and issued a $5.50 price target on shares of Cipher Mining in a research note on Wednesday, May 7th. HC Wainwright reiterated a "buy" rating on shares of Cipher Mining in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut shares of Cipher Mining from an "overweight" rating to a "neutral" rating in a research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $8.03.

Cipher Mining Stock Down 7.1%

NASDAQ CIFR traded down $0.27 during trading hours on Wednesday, hitting $3.51. The company's stock had a trading volume of 57,525,859 shares, compared to its average volume of 11,812,705. The company has a market capitalization of $1.30 billion, a PE ratio of -27.00 and a beta of 2.61. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $7.99. The company's 50-day simple moving average is $2.81 and its two-hundred day simple moving average is $4.61.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, meeting 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 company had revenue of $48.96 million for the quarter, compared to analyst estimates of $53.57 million. Research analysts anticipate that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

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.