Federated Hermes Inc. Purchases New Stake in Cipher Mining Inc. (NASDAQ:CIFR)

Federated Hermes Inc. bought a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 437,247 shares of the company's stock, valued at approximately $2,029,000. Federated Hermes Inc. owned 0.13% of Cipher Mining at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Helix Partners Management LP acquired a new position in shares of Cipher Mining in the fourth quarter worth $10,426,000. Tidal Investments LLC lifted its position in Cipher Mining by 73.4% during the third quarter. Tidal Investments LLC now owns 3,742,931 shares of the company's stock valued at $14,485,000 after buying an additional 1,584,874 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 worth $21,327,000 after buying an additional 1,511,455 shares during the period. Vanguard Group Inc. grew its position in Cipher Mining by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company's stock valued at $84,318,000 after acquiring an additional 1,189,756 shares in the last quarter. Finally, State Street Corp grew its holdings in Cipher Mining by 17.3% during the 3rd quarter. State Street Corp now owns 6,919,189 shares of the company's stock valued at $26,777,000 after purchasing an additional 1,019,949 shares in the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

Cipher Mining Price Performance

Shares of Cipher Mining stock opened at $2.42 on Monday. The firm has a fifty day moving average price of $3.79 and a two-hundred day moving average price of $4.92. Cipher Mining Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $7.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57. The company has a market cap of $889.66 million, a PE ratio of -18.61 and a beta of 2.65.

Analysts Set New Price Targets

A number of research firms recently commented on CIFR. Canaccord Genuity Group reiterated a "buy" rating and issued a $8.00 price target on shares of Cipher Mining in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered shares of Cipher Mining from an "overweight" rating to a "neutral" rating in a research note on Thursday, March 13th. HC Wainwright restated a "buy" rating and set a $8.00 price objective on shares of Cipher Mining in a research note on Wednesday, February 26th. Cantor Fitzgerald decreased their price target on Cipher Mining from $11.00 to $10.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Finally, Keefe, Bruyette & Woods began coverage on shares of Cipher Mining in a report on Wednesday, January 8th. They issued an "outperform" rating on the stock. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Cipher Mining has a consensus rating of "Buy" and a consensus price target of $8.13.

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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.

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