Vanguard Group Inc. Raises Stock Holdings in Cipher Mining Inc. (NASDAQ:CIFR)

Vanguard Group Inc. raised its stake in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,172,080 shares of the company's stock after purchasing an additional 1,189,756 shares during the quarter. Vanguard Group Inc. owned 5.22% of Cipher Mining worth $84,318,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CIFR. Private Advisor Group LLC grew its position in Cipher Mining by 90.4% in the 4th 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 last quarter. State Street Corp lifted its stake in shares of Cipher Mining by 17.3% in 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 period. Geode Capital Management LLC boosted its holdings 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cipher Mining by 33.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,139,553 shares of the company's stock worth $14,568,000 after acquiring an additional 783,509 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Cipher Mining by 61.9% during the fourth quarter. American Century Companies Inc. now owns 455,041 shares of the company's stock worth $2,111,000 after acquiring an additional 173,906 shares during the period. Institutional investors and hedge funds own 12.26% of the company's stock.

Cipher Mining Price Performance

NASDAQ:CIFR traded down $0.11 during mid-day trading on Tuesday, hitting $2.34. 1,526,248 shares of the company's stock traded hands, compared to its average volume of 10,655,779. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. The company has a market cap of $858.41 million, a PE ratio of -17.96 and a beta of 2.65. The firm's 50 day simple moving average is $3.72 and its 200 day simple moving average is $4.90. Cipher Mining Inc. has a 1 year low of $1.86 and a 1 year high of $7.99.

Analyst Ratings Changes

A number of brokerages have weighed in on CIFR. JPMorgan Chase & Co. lowered Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. Needham & Company LLC decreased their price target on Cipher Mining from $7.50 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Cantor Fitzgerald cut their price objective on Cipher Mining from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Canaccord Genuity Group reissued a "buy" rating and issued a $8.00 target price on shares of Cipher Mining in a report on Wednesday, February 26th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $8.00 price target on shares of Cipher Mining in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Cipher Mining currently has a consensus 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.