Cipher Mining Inc. (NASDAQ:CIFR) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 184.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,334 shares of the company’s stock after buying an additional 15,791 shares during the period. Farther Finance Advisors LLC’s holdings in Cipher Mining were worth $113,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Tidal Investments LLC raised its position in Cipher Mining by 73.4% in the 3rd quarter. Tidal Investments LLC now owns 3,742,931 shares of the company’s stock valued at $14,485,000 after purchasing an additional 1,584,874 shares during the last quarter. Geode Capital Management LLC raised its position in 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 during the last quarter. Paloma Partners Management Co purchased a new stake in Cipher Mining in the 3rd quarter valued at $4,029,000. State Street Corp raised its position in Cipher Mining by 17.3% in the 3rd 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Cipher Mining by 71.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,356,044 shares of the company’s stock valued at $9,118,000 after purchasing an additional 977,963 shares during the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Analyst Ratings Changes

CIFR has been the subject of several research reports. Keefe, Bruyette & Woods initiated coverage on shares of Cipher Mining in a research report on Wednesday, January 8th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. downgraded shares of Cipher Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, March 13th. Rosenblatt Securities initiated coverage on shares of Cipher Mining in a research report on Friday, March 7th. They set a “buy” rating and a $6.50 price objective for the company. Canaccord Genuity Group restated a “buy” rating and set a $8.00 price objective on shares of Cipher Mining in a research report on Wednesday, February 26th. Finally, Needham & Company LLC cut their price objective on shares of Cipher Mining from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $8.13.

Cipher Mining Stock Performance

Shares of CIFR opened at $2.92 on Friday. The company has a 50-day simple moving average of $4.74 and a 200-day simple moving average of $4.98. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.07 billion, a PE ratio of -22.46 and a beta of 2.47. Cipher Mining Inc. has a 52-week low of $2.66 and a 52-week high of $7.99.

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.