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

Invesco Ltd. raised its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 16.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,443,723 shares of the company’s stock after purchasing an additional 924,262 shares during the quarter. Invesco Ltd. owned 1.85% of Cipher Mining worth $29,899,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Private Advisor Group LLC boosted its stake 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 buying an additional 95,400 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of 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 purchasing an additional 1,189,756 shares in the last quarter. State Street Corp grew its stake in shares of Cipher Mining by 17.3% during the 3rd quarter. State Street Corp now owns 6,919,189 shares of the company’s stock worth $26,777,000 after purchasing an additional 1,019,949 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cipher Mining by 37.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,509,853 shares of the company’s stock valued at $21,327,000 after purchasing an additional 1,511,455 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Cipher Mining by 33.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,139,553 shares of the company’s stock valued at $14,568,000 after purchasing an additional 783,509 shares in the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

Cipher Mining Price Performance

NASDAQ:CIFR opened at $2.37 on Friday. Cipher Mining Inc. has a 12-month low of $1.86 and a 12-month high of $7.99. The firm has a market cap of $871.28 million, a price-to-earnings ratio of -18.23 and a beta of 2.65. The company’s 50-day moving average is $3.51 and its two-hundred day moving average is $4.86. 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 Ratings Changes

CIFR has been the topic of several recent analyst reports. Needham & Company LLC lowered their target price on shares of Cipher Mining from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of Cipher Mining in a report on Wednesday, February 26th. JPMorgan Chase & Co. cut Cipher Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, March 13th. Cantor Fitzgerald lowered their target price on Cipher Mining from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, Rosenblatt Securities assumed coverage on Cipher Mining in a research note on Friday, March 7th. They set a “buy” rating and a $6.50 price target for the company. One 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 company’s stock. Based on data from MarketBeat.com, Cipher Mining has an average 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.