Cibc World Markets Corp Purchases Shares of 18,954 Cipher Mining Inc. (NASDAQ:CIFR)

Cibc World Markets Corp bought a new stake in Cipher Mining Inc. (NASDAQ:CIFR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 18,954 shares of the company’s stock, valued at approximately $88,000.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in Cipher Mining by 17.3% in the 3rd quarter. State Street Corp now owns 6,919,189 shares of the company’s stock worth $26,777,000 after purchasing an additional 1,019,949 shares during the period. Geode Capital Management LLC grew its holdings in shares of Cipher Mining by 37.8% in the third quarter. Geode Capital Management LLC now owns 5,509,853 shares of the company’s stock worth $21,327,000 after purchasing an additional 1,511,455 shares during the last quarter. Tidal Investments LLC increased its stake 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 worth $14,485,000 after buying an additional 1,584,874 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Cipher Mining by 33.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,139,553 shares of the company’s stock valued at $14,568,000 after buying an additional 783,509 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Cipher Mining by 11.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,471,822 shares of the company’s stock valued at $6,829,000 after buying an additional 147,915 shares during the period. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Cipher Mining Stock Performance

Shares of CIFR stock opened at $2.54 on Friday. The company’s fifty day moving average price is $4.56 and its 200-day moving average price is $4.98. The stock has a market cap of $933.78 million, a PE ratio of -19.54 and a beta of 2.47. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. Cipher Mining Inc. has a 12 month low of $2.52 and a 12 month high of $7.99.

Wall Street Analyst Weigh In

CIFR has been the subject of several recent analyst reports. Needham & Company LLC lowered their price objective on shares of Cipher Mining from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut Cipher Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, March 13th. Cantor Fitzgerald reduced their target price on Cipher Mining from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $8.00 price target on shares of Cipher Mining in a research note on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods began coverage on shares of Cipher Mining in a research report on Wednesday, January 8th. They set an “outperform” rating on the stock. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Cipher Mining currently has a consensus 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.