Nuveen Asset Management LLC Sells 1,920,039 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Nuveen Asset Management LLC decreased its holdings in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 63.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,119,802 shares of the company's stock after selling 1,920,039 shares during the quarter. Nuveen Asset Management LLC owned 0.32% of Cipher Mining worth $5,196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CIFR. V3 Holding Ltd acquired a new stake in Cipher Mining in the 4th quarter worth about $452,713,000. Lone Pine Capital LLC acquired a new stake in Cipher Mining in the 4th quarter worth about $10,878,000. Helix Partners Management LP acquired a new stake in Cipher Mining in the 4th quarter worth about $10,426,000. Driehaus Capital Management LLC acquired a new stake in Cipher Mining in the 4th quarter worth about $9,439,000. Finally, Vanguard Group Inc. raised its stake in Cipher Mining by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company's stock worth $84,318,000 after purchasing an additional 1,189,756 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company's stock.

Cipher Mining Price Performance

Shares of Cipher Mining stock traded up $0.13 during midday trading on Monday, hitting $3.25. 17,119,213 shares of the company traded hands, compared to its average volume of 12,194,829. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -25.00 and a beta of 2.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. The firm's fifty day moving average price is $2.87 and its 200-day moving average price is $4.42. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $7.99.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting 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 analyst estimates of $53.57 million. As a group, sell-side analysts forecast that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CIFR shares. Needham & Company LLC dropped their target price on shares of Cipher Mining from $7.50 to $7.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Rosenblatt Securities restated a "buy" rating and issued a $5.50 target price on shares of Cipher Mining in a research report on Wednesday, May 7th. JPMorgan Chase & Co. cut shares of Cipher Mining from an "overweight" rating to a "neutral" rating in a research report on Thursday, March 13th. Cantor Fitzgerald dropped their target price 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. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $8.00 target price on shares of Cipher Mining in a research report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Cipher Mining currently has an average rating of "Buy" and an average target price 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.