Cipher Mining Inc. (NASDAQ:CIFR) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. raised its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 61.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 455,041 shares of the company's stock after acquiring an additional 173,906 shares during the quarter. American Century Companies Inc. owned approximately 0.13% of Cipher Mining worth $2,111,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Private Advisor Group LLC boosted its position in shares of Cipher Mining by 90.4% during the fourth quarter. Private Advisor Group LLC now owns 200,940 shares of the company's stock valued at $932,000 after buying an additional 95,400 shares during the period. State Street Corp lifted its stake in shares of Cipher Mining by 17.3% during the 3rd quarter. State Street Corp now owns 6,919,189 shares of the company's stock worth $26,777,000 after acquiring an additional 1,019,949 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Cipher Mining by 37.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,509,853 shares of the company's stock valued at $21,327,000 after acquiring an additional 1,511,455 shares during the period. Charles Schwab Investment Management Inc. grew its position in Cipher Mining by 33.3% in 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 acquiring an additional 783,509 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Cipher Mining by 47.4% in the third quarter. The Manufacturers Life Insurance Company now owns 98,941 shares of the company's stock worth $383,000 after purchasing an additional 31,815 shares during the period. Hedge funds and other institutional investors own 12.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Cipher Mining in a report on Wednesday, January 8th. They set an "outperform" rating for the company. Needham & Company LLC decreased their price target 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. HC Wainwright reissued a "buy" rating and issued a $8.00 price objective on shares of Cipher Mining in a research note on Wednesday, February 26th. Cantor Fitzgerald reduced their price objective on Cipher Mining from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. cut Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $8.13.

Cipher Mining Price Performance

CIFR traded up $0.20 on Friday, hitting $2.42. 7,360,972 shares of the company's stock were exchanged, compared to its average volume of 10,709,779. Cipher Mining Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $7.99. The stock has a market cap of $889.66 million, a price-to-earnings ratio of -18.61 and a beta of 2.65. The firm has a 50-day moving average price of $3.79 and a 200-day moving average price of $4.92. 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 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.