Private Advisor Group LLC Buys 95,400 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Private Advisor Group LLC raised its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 90.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,940 shares of the company’s stock after purchasing an additional 95,400 shares during the period. Private Advisor Group LLC owned 0.06% of Cipher Mining worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. New York State Common Retirement Fund raised its holdings in Cipher Mining by 70.8% during the 4th quarter. New York State Common Retirement Fund now owns 55,982 shares of the company’s stock valued at $260,000 after buying an additional 23,200 shares during the period. Rhumbline Advisers raised its stake in shares of Cipher Mining by 23.1% in the fourth quarter. Rhumbline Advisers now owns 270,106 shares of the company’s stock valued at $1,253,000 after acquiring an additional 50,630 shares during the period. Apollon Wealth Management LLC purchased a new stake in shares of Cipher Mining in the fourth quarter valued at $49,000. Tobam lifted its holdings in shares of Cipher Mining by 22.7% in the 4th quarter. Tobam now owns 18,023 shares of the company’s stock worth $84,000 after acquiring an additional 3,336 shares during the last quarter. Finally, TRU Independence Asset Management 2 LLC boosted its stake in shares of Cipher Mining by 66.9% during the 4th quarter. TRU Independence Asset Management 2 LLC now owns 56,760 shares of the company’s stock worth $263,000 after purchasing an additional 22,760 shares during the period. 12.26% of the stock is owned by institutional investors.

Cipher Mining Stock Performance

Shares of Cipher Mining stock opened at $4.08 on Friday. Cipher Mining Inc. has a 12 month low of $2.65 and a 12 month high of $7.99. The stock’s fifty day moving average price is $5.28 and its 200-day moving average price is $5.03. The firm has a market cap of $1.42 billion, a P/E ratio of -31.38 and a beta of 2.41. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01.

Wall Street Analyst Weigh In

CIFR has been the topic of a number of recent analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a $8.00 price objective on shares of Cipher Mining in a research report on Wednesday. BTIG Research increased their price target on Cipher Mining from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, November 15th. JPMorgan Chase & Co. upgraded Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price objective for the company in a report on Tuesday, December 10th. Macquarie upped their price objective on Cipher Mining from $6.00 to $7.25 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of Cipher Mining in a research report on Wednesday. Ten research analysts have rated the stock with 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 target price of $8.31.

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.