Cipher Mining Inc. (NASDAQ:CIFR) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 25.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 699,247 shares of the company's stock after selling 237,715 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.27% of Cipher Mining worth $2,888,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CIFR. American International Group Inc. acquired a new position in shares of Cipher Mining in the second quarter worth about $25,000. New York State Common Retirement Fund raised its holdings in Cipher Mining by 104.9% in the 3rd quarter. New York State Common Retirement Fund now owns 10,921 shares of the company's stock worth $25,000 after purchasing an additional 5,592 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Cipher Mining in the 3rd quarter worth about $27,000. JPMorgan Chase & Co. grew its holdings in Cipher Mining by 72.5% in the second quarter. JPMorgan Chase & Co. now owns 21,173 shares of the company's stock valued at $29,000 after purchasing an additional 8,896 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in Cipher Mining in the first quarter valued at approximately $30,000. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CIFR. HC Wainwright reiterated a "buy" rating and set a $4.50 target price on shares of Cipher Mining in a research report on Tuesday, March 5th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $5.00 target price on shares of Cipher Mining in a research report on Thursday, March 28th. Canaccord Genuity Group restated a "buy" rating and set a $5.50 price target on shares of Cipher Mining in a research report on Thursday, March 28th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $5.00 price target on shares of Cipher Mining in a research note on Monday, March 18th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.25.

Cipher Mining Price Performance

Shares of NASDAQ CIFR traded up $0.26 during mid-day trading on Thursday, reaching $3.68. The company's stock had a trading volume of 5,560,610 shares, compared to its average volume of 8,837,585. Cipher Mining Inc. has a 1-year low of $1.76 and a 1-year high of $5.75. The stock has a market capitalization of $1.09 billion, a P/E ratio of -38.10 and a beta of 2.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.60 and a current ratio of 4.60. The stock has a 50-day moving average of $3.84 and a two-hundred day moving average of $3.35.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. Cipher Mining had a negative return on equity of 6.78% and a negative net margin of 20.32%. The business had revenue of $43.42 million for the quarter, compared to analysts' expectations of $35.73 million. On average, equities research analysts anticipate that Cipher Mining Inc. will post -0.15 EPS for the current fiscal year.

About Cipher Mining

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.