Vident Advisory LLC Acquires 965,648 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Vident Advisory LLC boosted its position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 29.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,250,078 shares of the company's stock after acquiring an additional 965,648 shares during the quarter. Vident Advisory LLC owned 1.22% of Cipher Mining worth $19,720,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. V3 Holding Ltd purchased a new stake in Cipher Mining during the fourth quarter valued at about $452,713,000. Vanguard Group Inc. boosted its position in Cipher Mining by 7.0% during the fourth 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 during the period. Invesco Ltd. boosted its position in Cipher Mining by 16.7% during the fourth quarter. Invesco Ltd. now owns 6,443,723 shares of the company's stock valued at $29,899,000 after buying an additional 924,262 shares during the period. Geode Capital Management LLC boosted its position in Cipher Mining by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 5,727,990 shares of the company's stock valued at $26,583,000 after buying an additional 218,137 shares during the period. Finally, Tidal Investments LLC boosted its position in Cipher Mining by 3.9% during the fourth quarter. Tidal Investments LLC now owns 3,887,949 shares of the company's stock valued at $18,040,000 after buying an additional 145,018 shares during the period. Institutional investors own 12.26% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Canaccord Genuity Group restated a "buy" rating and set a $8.00 price target on shares of Cipher Mining in a research report on Thursday, May 8th. 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 report on Wednesday, February 26th. 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 report on Tuesday, February 4th. HC Wainwright reiterated a "buy" rating on shares of Cipher Mining in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lowered shares of Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Cipher Mining presently has an average rating of "Buy" and a consensus price target of $8.03.

Cipher Mining Stock Up 1.7%

Shares of NASDAQ CIFR traded up $0.06 on Thursday, reaching $3.57. 20,710,711 shares of the company's stock traded hands, compared to its average volume of 11,880,475. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $7.99. The business's 50 day simple moving average is $2.82 and its two-hundred day simple moving average is $4.60. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -27.46 and a beta of 2.61. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01.

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

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.