733,717 Shares in Cipher Mining Inc. (NASDAQ:CIFR) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 733,717 shares of the company's stock, valued at approximately $3,404,000. Point72 Asset Management L.P. owned about 0.21% of Cipher Mining at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its stake in Cipher Mining by 67.2% during the 4th quarter. ProShare Advisors LLC now owns 57,037 shares of the company's stock valued at $265,000 after purchasing an additional 22,924 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Cipher Mining during the fourth quarter valued at $680,000. Lazard Asset Management LLC increased its position in shares of Cipher Mining by 33,025.4% in the 4th quarter. Lazard Asset Management LLC now owns 22,194 shares of the company's stock valued at $101,000 after acquiring an additional 22,127 shares during the period. D. E. Shaw & Co. Inc. purchased a new position in Cipher Mining in the 4th quarter worth $4,191,000. Finally, Driehaus Capital Management LLC purchased a new position in Cipher Mining in the 4th quarter worth $9,439,000. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Cipher Mining Stock Down 2.8%

Shares of CIFR traded down $0.10 during midday trading on Monday, hitting $3.47. The company had a trading volume of 15,830,404 shares, compared to its average volume of 11,945,212. Cipher Mining Inc. has a 1 year low of $1.86 and a 1 year high of $7.99. The firm has a market capitalization of $1.16 billion, a P/E ratio of -26.69 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 company's 50-day simple moving average is $2.84 and its 200-day simple moving average is $4.55.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $53.57 million. As a group, sell-side analysts expect that Cipher Mining Inc. will post -0.31 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on CIFR shares. Canaccord Genuity Group reiterated a "buy" rating and issued a $8.00 price target on shares of Cipher Mining in a report on Thursday, May 8th. Rosenblatt Securities reiterated a "buy" rating and issued a $5.50 target price on shares of Cipher Mining in a research report on Wednesday, May 7th. HC Wainwright reaffirmed a "buy" rating on shares of Cipher Mining in a research note on Tuesday, May 6th. Cantor Fitzgerald reduced their target price on shares of Cipher Mining from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Finally, Needham & Company LLC lowered 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. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Cipher Mining presently has an average rating of "Buy" and an average price target of $8.03.

Cipher Mining 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.