Cipher Mining Inc. (NASDAQ:CIFR) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 19.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 596,507 shares of the company's stock after purchasing an additional 98,382 shares during the quarter. Bank of New York Mellon Corp owned 0.17% of Cipher Mining worth $2,768,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CIFR. Nisa Investment Advisors LLC increased its position in shares of Cipher Mining by 912.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company's stock worth $28,000 after acquiring an additional 5,432 shares during the period. KBC Group NV purchased a new stake in shares of Cipher Mining in the 4th quarter worth $46,000. Apollon Wealth Management LLC bought a new position in shares of Cipher Mining during the 4th quarter worth $49,000. FNY Investment Advisers LLC purchased a new stake in Cipher Mining in the fourth quarter worth about $51,000. Finally, Verition Fund Management LLC grew its holdings in Cipher Mining by 30.7% during the 3rd quarter. Verition Fund Management LLC now owns 13,130 shares of the company's stock worth $51,000 after acquiring an additional 3,086 shares in the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CIFR has been the topic of a number of recent research reports. Northland Securities increased their price objective on shares of Cipher Mining from $6.00 to $8.50 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Needham & Company LLC dropped 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. Keefe, Bruyette & Woods assumed coverage on Cipher Mining in a research report on Wednesday, January 8th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. cut Cipher Mining from an "overweight" rating to a "neutral" rating in a research note on Thursday, March 13th. Finally, Cantor Fitzgerald cut 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. One equities research 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $8.13.

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Cipher Mining Stock Up 9.6 %

CIFR stock traded up $0.28 during midday trading on Monday, reaching $3.20. 16,199,827 shares of the company were exchanged, compared to its average volume of 10,432,555. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -24.61 and a beta of 2.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. Cipher Mining Inc. has a 1-year low of $2.66 and a 1-year high of $7.99. The stock's 50-day simple moving average is $4.74 and its 200 day simple moving average is $5.01.

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.