Invesco Ltd. Buys 924,262 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Invesco Ltd. grew its position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 16.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,443,723 shares of the company's stock after acquiring an additional 924,262 shares during the period. Invesco Ltd. owned about 1.85% of Cipher Mining worth $29,899,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC grew its position in shares of Cipher Mining by 90.4% in the fourth quarter. Private Advisor Group LLC now owns 200,940 shares of the company's stock valued at $932,000 after purchasing an additional 95,400 shares during the last quarter. Vanguard Group Inc. increased its position in Cipher Mining by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company's stock worth $84,318,000 after buying an additional 1,189,756 shares during the period. State Street Corp lifted its holdings in shares of Cipher Mining by 17.3% during the third quarter. State Street Corp now owns 6,919,189 shares of the company's stock worth $26,777,000 after buying an additional 1,019,949 shares in the last quarter. Geode Capital Management LLC boosted its position 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 valued at $21,327,000 after acquiring an additional 1,511,455 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Cipher Mining by 510.2% in the fourth quarter. JPMorgan Chase & Co. now owns 954,209 shares of the company's stock valued at $4,428,000 after acquiring an additional 797,824 shares in the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

Cipher Mining Price Performance

Shares of CIFR traded up $0.37 during trading hours on Tuesday, reaching $2.71. The stock had a trading volume of 18,680,163 shares, compared to its average volume of 10,767,779. 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 12 month low of $1.86 and a 12 month high of $7.99. The stock has a market capitalization of $994.44 million, a PE ratio of -20.73 and a beta of 2.65. The company's 50-day moving average is $3.37 and its two-hundred day moving average is $4.85.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. Needham & Company LLC dropped their price objective on Cipher Mining from $7.50 to $7.00 and set a "buy" rating for the company in a 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 on the stock. Rosenblatt Securities began coverage on shares of Cipher Mining in a research report on Friday, March 7th. They set a "buy" rating and a $6.50 price objective for the company. Finally, HC Wainwright reissued a "buy" rating and issued a $8.00 target price on shares of Cipher Mining in a report on Wednesday, February 26th. 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's stock. According to MarketBeat, Cipher Mining presently has a consensus rating of "Buy" and a consensus 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.