Deutsche Bank AG Has $899,000 Stock Holdings in Cipher Mining Inc. (NASDAQ:CIFR)

Deutsche Bank AG cut its stake in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 63.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,677 shares of the company's stock after selling 337,379 shares during the period. Deutsche Bank AG owned about 0.06% of Cipher Mining worth $899,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in Cipher Mining by 912.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company's stock valued at $28,000 after buying an additional 5,432 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Cipher Mining during the fourth quarter worth about $29,000. KBC Group NV acquired a new stake in shares of Cipher Mining during the fourth quarter worth about $46,000. Apollon Wealth Management LLC acquired a new stake in shares of Cipher Mining during the fourth quarter worth about $49,000. Finally, Captrust Financial Advisors acquired a new position in Cipher Mining in the 4th quarter valued at about $54,000. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CIFR has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. Cantor Fitzgerald decreased their price objective on Cipher Mining from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $8.00 target price on shares of Cipher Mining in a research report on Thursday, May 8th. HC Wainwright reaffirmed a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. Finally, 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 research note on Wednesday, February 26th. 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. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $8.03.

Cipher Mining Stock Down 3.7%

NASDAQ CIFR traded down $0.12 on Friday, reaching $3.13. The stock had a trading volume of 22,956,020 shares, compared to its average volume of 12,175,361. The business has a 50 day moving average price of $2.87 and a 200 day moving average price of $4.43. 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 1 year low of $1.86 and a 1 year high of $7.99. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -24.08 and a beta of 2.61.

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