Cipher Mining Inc. (NASDAQ:CIFR) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 510.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 954,209 shares of the company's stock after acquiring an additional 797,824 shares during the period. JPMorgan Chase & Co. owned approximately 0.27% of Cipher Mining worth $4,428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in CIFR. Nisa Investment Advisors LLC increased its position in 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 buying an additional 5,432 shares in the last quarter. KBC Group NV acquired a new stake in Cipher Mining in the 4th quarter worth approximately $46,000. Apollon Wealth Management LLC acquired a new stake in Cipher Mining in the 4th quarter worth approximately $49,000. FNY Investment Advisers LLC acquired a new position in Cipher Mining during the 4th quarter valued at approximately $51,000. Finally, Xponance Inc. raised its holdings in shares of Cipher Mining by 17.8% in the fourth quarter. Xponance Inc. now owns 14,151 shares of the company's stock worth $66,000 after buying an additional 2,140 shares during the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

Cipher Mining Price Performance

Shares of NASDAQ CIFR traded down $0.03 during mid-day trading on Monday, reaching $2.34. The company's stock had a trading volume of 8,680,430 shares, compared to its average volume of 10,733,009. The stock has a 50-day moving average of $3.44 and a two-hundred day moving average of $4.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. The stock has a market capitalization of $860.25 million, a P/E ratio of -18.00 and a beta of 2.65. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $7.99.

Analyst Ratings Changes

CIFR has been the subject of a number of research reports. Canaccord Genuity Group reaffirmed a "buy" rating and set a $8.00 price target on shares of Cipher Mining in a research report on Wednesday, February 26th. JPMorgan Chase & Co. downgraded shares of Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. HC Wainwright reaffirmed a "buy" rating and issued a $8.00 price objective on shares of Cipher Mining in a report on Wednesday, February 26th. Needham & Company LLC reduced their price target on Cipher Mining from $7.50 to $7.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Finally, Rosenblatt Securities assumed coverage on shares of Cipher Mining in a research note on Friday, March 7th. They issued a "buy" rating and a $6.50 target price for the company. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $8.13.

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.