Charles Schwab Investment Management Inc. Raises Holdings in Cipher Mining Inc. (NASDAQ:CIFR)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 33.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,139,553 shares of the company’s stock after buying an additional 783,509 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.90% of Cipher Mining worth $14,568,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CIFR. Nisa Investment Advisors LLC grew its holdings in Cipher Mining by 912.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company’s stock worth $28,000 after purchasing an additional 5,432 shares during the last quarter. KBC Group NV purchased a new position in Cipher Mining in the fourth quarter worth $46,000. Apollon Wealth Management LLC purchased a new position in Cipher Mining in the fourth quarter worth $49,000. Verition Fund Management LLC grew its holdings in Cipher Mining by 30.7% in the third quarter. Verition Fund Management LLC now owns 13,130 shares of the company’s stock worth $51,000 after purchasing an additional 3,086 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Cipher Mining in the fourth quarter worth $51,000. 12.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CIFR shares. Keefe, Bruyette & Woods started coverage on shares of Cipher Mining in a report on Wednesday, January 8th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. lowered shares of Cipher Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, March 13th. Northland Securities lifted their price objective on shares of Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Needham & Company LLC lowered 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 note on Wednesday, February 26th. Finally, Rosenblatt Securities started coverage on shares of Cipher Mining in a research note on Friday, March 7th. They set a “buy” rating and a $6.50 price objective for the company. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Cipher Mining presently has an average rating of “Buy” and a consensus target price of $8.13.

Cipher Mining Trading Down 2.0 %

NASDAQ CIFR opened at $3.00 on Friday. The company has a market capitalization of $1.10 billion, a PE ratio of -23.08 and a beta of 2.47. The company has a fifty day moving average of $4.78 and a 200 day moving average of $4.99. Cipher Mining Inc. has a 1 year low of $2.66 and a 1 year high of $7.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57.

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.