First Trust Advisors LP Has $5.38 Million Holdings in Cipher Mining Inc. (NASDAQ:CIFR)

First Trust Advisors LP lifted its stake in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 40.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,158,838 shares of the company's stock after purchasing an additional 336,553 shares during the quarter. First Trust Advisors LP owned 0.33% of Cipher Mining worth $5,377,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Cipher Mining by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company's stock worth $84,318,000 after buying an additional 1,189,756 shares during the period. Invesco Ltd. grew its position in Cipher Mining by 16.7% during the 4th quarter. Invesco Ltd. now owns 6,443,723 shares of the company's stock worth $29,899,000 after purchasing an additional 924,262 shares in the last quarter. Geode Capital Management LLC raised its stake in Cipher Mining by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 5,727,990 shares of the company's stock valued at $26,583,000 after purchasing an additional 218,137 shares during the period. Tidal Investments LLC lifted its holdings in shares of Cipher Mining by 73.4% in the third quarter. Tidal Investments LLC now owns 3,742,931 shares of the company's stock valued at $14,485,000 after purchasing an additional 1,584,874 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Cipher Mining by 33.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,139,553 shares of the company's stock worth $14,568,000 after buying an additional 783,509 shares during the period. Hedge funds and other institutional investors own 12.26% of the company's stock.

Cipher Mining Stock Performance

CIFR traded up $0.04 on Friday, hitting $3.16. The company had a trading volume of 13,023,082 shares, compared to its average volume of 11,026,351. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -24.31 and a beta of 2.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57. The company's fifty day moving average price is $2.90 and its 200 day moving average price is $4.77. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $7.99.

Analyst Ratings Changes

Several research analysts recently weighed in on CIFR shares. Needham & Company LLC dropped their price target 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. Canaccord Genuity Group reaffirmed a "buy" rating and set a $8.00 price objective on shares of Cipher Mining in a research report on Wednesday, February 26th. HC Wainwright reiterated a "buy" rating and issued a $8.00 target price on shares of Cipher Mining in a research report on Wednesday, February 26th. Cantor Fitzgerald decreased 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 note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lowered Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Cipher Mining currently has an average rating of "Buy" and an average target price of $8.13.

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.