Charles Schwab Investment Management Inc. Raises Stock Holdings in Cipher Mining Inc. (NASDAQ:CIFR)

Charles Schwab Investment Management Inc. lifted its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 33.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,139,553 shares of the company's stock after acquiring an additional 783,509 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.90% of Cipher Mining worth $14,568,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its position in shares of Cipher Mining by 912.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company's stock valued at $28,000 after purchasing an additional 5,432 shares during the last quarter. KBC Group NV purchased a new stake in Cipher Mining in the fourth quarter worth approximately $46,000. Apollon Wealth Management LLC purchased a new stake in Cipher Mining in the fourth quarter worth approximately $49,000. FNY Investment Advisers LLC bought a new position in Cipher Mining during the fourth quarter valued at approximately $51,000. Finally, Verition Fund Management LLC raised its stake in shares of Cipher Mining by 30.7% during the third 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 currently owned by hedge funds and other institutional investors.

Cipher Mining Trading Up 9.6 %

Shares of NASDAQ CIFR traded up $0.28 during midday trading on Monday, hitting $3.20. 16,199,827 shares of the company traded hands, compared to its average volume of 10,432,555. Cipher Mining Inc. has a 12-month low of $2.66 and a 12-month high of $7.99. The firm has a market cap of $1.18 billion, a P/E ratio of -24.61 and a beta of 2.47. The stock has a 50-day moving average price of $4.74 and a 200 day moving average price of $5.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57.

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Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CIFR. Rosenblatt Securities assumed coverage on Cipher Mining in a research note on Friday, March 7th. They set a "buy" rating and a $6.50 price objective on the stock. Cantor Fitzgerald reduced their price target on Cipher Mining from $11.00 to $10.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. downgraded Cipher Mining from an "overweight" rating to a "neutral" rating in a research report on Thursday, March 13th. Canaccord Genuity Group restated a "buy" rating and issued a $8.00 target price on shares of Cipher Mining in a report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods began coverage on shares of Cipher Mining in a report on Wednesday, January 8th. They set an "outperform" rating for the company. One investment 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. According to MarketBeat, Cipher Mining presently has an average rating of "Buy" and an average price target 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.