Intech Investment Management LLC Increases Stock Position in Cipher Mining Inc. (NASDAQ:CIFR)

Intech Investment Management LLC boosted its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 161.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,790 shares of the company’s stock after purchasing an additional 55,500 shares during the quarter. Intech Investment Management LLC’s holdings in Cipher Mining were worth $417,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its holdings in shares of Cipher Mining by 912.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company’s stock valued at $28,000 after buying an additional 5,432 shares during the last quarter. KBC Group NV purchased a new stake in Cipher Mining during the 4th quarter valued at approximately $46,000. Apollon Wealth Management LLC purchased a new stake in Cipher Mining during the 4th quarter valued at approximately $49,000. FNY Investment Advisers LLC purchased a new position in shares of Cipher Mining in the 4th quarter valued at approximately $51,000. Finally, Verition Fund Management LLC grew its stake in shares of Cipher Mining by 30.7% in the 3rd quarter. Verition Fund Management LLC now owns 13,130 shares of the company’s stock valued at $51,000 after purchasing an additional 3,086 shares during the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Trading Down 5.0 %

NASDAQ:CIFR opened at $3.04 on Wednesday. Cipher Mining Inc. has a 52-week low of $2.66 and a 52-week high of $7.99. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $4.67 and a 200-day simple moving average of $5.01. The company has a market capitalization of $1.12 billion, a PE ratio of -23.38 and a beta of 2.47.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Needham & Company LLC decreased 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. JPMorgan Chase & Co. cut shares of Cipher Mining from an “overweight” rating to a “neutral” rating in a research note on Thursday, March 13th. HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of Cipher Mining in a research note on Wednesday, February 26th. Cantor Fitzgerald reduced their price objective on shares of Cipher Mining from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $8.00 target price on shares of Cipher Mining in a research report on Wednesday, February 26th. One equities 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $8.13.

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.