Cipher Mining Inc. (NASDAQ:CIFR) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,727,990 shares of the company's stock after purchasing an additional 218,137 shares during the quarter. Geode Capital Management LLC owned 1.65% of Cipher Mining worth $26,583,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CIFR. Xponance Inc. lifted its stake 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 acquiring an additional 2,140 shares in the last quarter. Tobam raised its position in shares of Cipher Mining by 22.7% in the 4th quarter. Tobam now owns 18,023 shares of the company's stock valued at $84,000 after purchasing an additional 3,336 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Cipher Mining by 14.4% during the 4th quarter. Victory Capital Management Inc. now owns 29,747 shares of the company's stock valued at $138,000 after buying an additional 3,751 shares during the last quarter. Navellier & Associates Inc. grew its position in shares of Cipher Mining by 11.6% during the fourth quarter. Navellier & Associates Inc. now owns 36,274 shares of the company's stock worth $168,000 after buying an additional 3,756 shares in the last quarter. Finally, Corebridge Financial Inc. increased its stake in shares of Cipher Mining by 4.3% in the fourth quarter. Corebridge Financial Inc. now owns 100,691 shares of the company's stock worth $467,000 after buying an additional 4,162 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company's stock.

Cipher Mining Stock Performance

Shares of CIFR traded up $0.18 during midday trading on Wednesday, hitting $2.92. 4,106,788 shares of the stock traded hands, compared to its average volume of 10,766,506. 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 1-year low of $1.86 and a 1-year high of $7.99. The business's 50 day moving average price is $3.31 and its two-hundred day moving average price is $4.84. The firm has a market capitalization of $1.07 billion, a PE ratio of -22.46 and a beta of 2.65.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Cantor Fitzgerald reduced their price objective on shares of Cipher Mining from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. 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. Rosenblatt Securities started coverage on Cipher Mining in a report on Friday, March 7th. They issued a "buy" rating and a $6.50 price objective for the company. JPMorgan Chase & Co. downgraded Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. Finally, Needham & Company LLC lowered their price target on Cipher Mining from $7.50 to $7.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus 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.