First Trust Advisors LP Grows Position in Cipher Mining Inc. (NASDAQ:CIFR)

First Trust Advisors LP raised its position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 40.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,158,838 shares of the company's stock after purchasing an additional 336,553 shares during the period. First Trust Advisors LP owned 0.33% of Cipher Mining worth $5,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CIFR. NewEdge Advisors LLC purchased a new position in shares of Cipher Mining in the fourth quarter worth about $29,000. XTX Topco Ltd lifted its stake in Cipher Mining by 165.0% in the 4th quarter. XTX Topco Ltd now owns 100,323 shares of the company's stock worth $465,000 after purchasing an additional 62,467 shares in the last quarter. Barclays PLC lifted its stake in Cipher Mining by 24.1% in the 4th quarter. Barclays PLC now owns 367,985 shares of the company's stock worth $1,708,000 after purchasing an additional 71,492 shares in the last quarter. Summit Investment Advisors Inc. grew its position in shares of Cipher Mining by 25.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 21,187 shares of the company's stock valued at $98,000 after purchasing an additional 4,272 shares in the last quarter. Finally, Phoenix Financial Ltd. grew its position in shares of Cipher Mining by 58.2% in the fourth quarter. Phoenix Financial Ltd. now owns 83,962 shares of the company's stock valued at $390,000 after purchasing an additional 30,890 shares in the last quarter. Hedge funds and other institutional investors own 12.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CIFR shares. Rosenblatt Securities began coverage on Cipher Mining in a research note on Friday, March 7th. They set a "buy" rating and a $6.50 price objective on the stock. Keefe, Bruyette & Woods started coverage on shares of Cipher Mining in a research report on Wednesday, January 8th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. cut Cipher Mining from an "overweight" rating to a "neutral" rating in a research note on Thursday, March 13th. Needham & Company LLC reduced their target price on Cipher Mining from $7.50 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Finally, HC Wainwright reiterated a "buy" rating and set a $8.00 price target on shares of Cipher Mining in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $8.13.

Cipher Mining Trading Down 0.8 %

NASDAQ:CIFR traded down $0.03 on Tuesday, reaching $2.96. 3,193,803 shares of the company's stock were exchanged, compared to its average volume of 10,996,871. The business has a fifty day moving average of $2.87 and a 200-day moving average of $4.76. 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 Inc. has a 52-week low of $1.86 and a 52-week high of $7.99. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -22.88 and a beta of 2.61.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its 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%. As a group, analysts expect that Cipher Mining Inc. will post -0.31 earnings per share for the current 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.