Cipher Mining Inc. (NASDAQ:CIFR) Shares Acquired by Invesco Ltd.

Invesco Ltd. boosted its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 16.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,443,723 shares of the company’s stock after buying an additional 924,262 shares during the quarter. Invesco Ltd.’s holdings in Cipher Mining were worth $29,899,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Cipher Mining by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company’s stock valued at $84,318,000 after buying an additional 1,189,756 shares during the period. State Street Corp grew its holdings in Cipher Mining by 17.3% in the third 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 during the period. Geode Capital Management LLC grew its holdings in Cipher Mining by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 5,727,990 shares of the company’s stock valued at $26,583,000 after purchasing an additional 218,137 shares during the period. Tidal Investments LLC increased 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 worth $14,485,000 after purchasing an additional 1,584,874 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in 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 purchasing an additional 783,509 shares during the period. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Cipher Mining Price Performance

Shares of CIFR stock opened at $2.37 on Friday. The firm has a fifty day simple moving average of $3.51 and a 200-day simple moving average of $4.86. The company has a market capitalization of $871.28 million, a PE ratio of -18.23 and a beta of 2.65. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $7.99. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Cantor Fitzgerald lowered their price objective on shares of Cipher Mining from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Rosenblatt Securities initiated coverage on Cipher Mining in a report on Friday, March 7th. They issued a “buy” rating and a $6.50 price objective on the stock. Needham & Company LLC reduced their price objective 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. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Cipher Mining in a research report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Cipher Mining in a research report on Wednesday, January 8th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target 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.